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Good Life Plus PLC - London-based luxury prize draw and rewards provider - Raises £750,000 from a cornerstone investor through subscription to new convertible loan notes. Says it is issuing up to 1.5 million notes of 100 pence each, and private investment vehicle Boatside Investments Ltd has subscribed for half of this amount. Notes that Boatside is associated with Sportingbet PLC founder Mark Blandford. Says the notes remain open for investment until June 10, 2026. The loan notes expire on June 30, 2028, and carry a 10% coupon which will accrue until maturity, at which point they will either be repaid or convert into new shares at 2.15 pence each. Also, the notes automatically convert if Good Life Plus conducts a qualifying fundraise defined as an equity raise of £1 million or above, ‘to the extent that the aggregate holdings associated with Mark Blandford and his related parties remain below 30%’. Shares would then be either equal to the fundraise price or 2.15p, whichever is lower. Chief Executive Charlie Chadd says: ‘We are delighted to have secured further investment from our largest shareholder, representing both their confidence in our progress to date and the scalability of our business model. This additional capital will support the acceleration of our growth initiatives and the pursuit of new opportunities, driving further upside throughout the remainder of the year.’ Current stock price: 1.85 pence 12-month change: up 32% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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