Gfinity Regulatory News (GFIN)

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

18 December 2020

Gfinity plc

("Gfinity" or the "Company")

Appointment of Non-Executive Director

Gfinity plc (AIM: GFIN), a world-leading esports and gaming solutions provider, is pleased to announce the appointment of Len Rinaldi as Non-Executive Director with immediate effect. Len will join the company's Audit and Remuneration Committees.

Mr Rinaldi spent the last twelve years with Apple, the multinational technology company. Most recently, he was the General Manager for Apple Western Europe, a role he held for seven years. In this role, Mr Rinaldi was responsible for all partner relationships across all Apple products, software and services with $20bn portfolio under management. Mr Rinaldi joined Apple in 2007, and served as Apple's CFO EMEIA for five years, during which time he oversaw significant revenue growth at the division from $7bn to $40bn.

Mr Rinaldi has held previous senior leadership roles at Alcatel Lucent SA and Lucent Technologies. He has also served as a board member at Apple India (2010-2012) and Apple France (2007-2012) and brings significant global expertise, working across the US, Europe, the Middle East, Africa and China.

As part of his appointment, the Company is entering into an option arrangement with Mr Rinaldi. Under the terms of the option arrangement Mr Rinaldi will be granted an option over 2,000,000 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares").

The options will be exercisable at 3.6p per share (the "Exercise Price"), being the average closing mid-market share price in the 30 days leading up to the date of the grant. 1,500,000 of the options will vest on the date of grant; 500,000 of the options will vest one year following the date of grant.

The new options will expire on 18 December 2030 if not exercised.

Due to the option arrangement being entered into by the Company and Mr Rinaldi, Mr Rinaldi is not considered to be independent by the directors of the Company.

Neville Upton, Founder and Chairman of Gfinity said: "The Board and I are delighted to welcome Len to Gfinity. He is a respected global operator with a proven track record of growing businesses. Len brings a wealth of insight and experience that will be invaluable to the company as it looks accelerate its growth strategy over the next two to three years. CEO John Clarke and his senior team will benefit greatly from Len's leadership experience."

Len Rinaldi said: "I am excited to join a rapidly growing and ambitious business that has clear strategic priorities in place. Gfinity has a strong business model that can take it to the next level, and I look forward to working with John and the leadership team to help the business fully realise its ambitions."

The following details in relation to the appointment of Mr Leonard (Len) Richard Rinaldi JR (aged 53) are disclosed in accordance with Schedule 2(g) of the AIM Rules:

There is no further information to be disclosed in relation to Len Rinaldi's appointment pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

ENDS

Enquiries:

 About Gfinity

Gfinity (AIM: GFIN) is a world leading esports business. Created by gamers for the world's 2.7 billion gamers, Gfinity has a unique understanding of this fast-growing global community. It uses this expertise both to provide advisory services and to design, develop and deliver unparalleled experiences and winning strategies for game publishers, sports rights holders, commercial partners and media companies.

Gfinity connects its partners with the esports community in authentic and innovative ways. This consists of on‑ and off-line competitions and industry‑leading content production. Relationships include EA SPORTS, Activision Blizzard, F1 Esports Series and the Forza Racing Championship.

Gfinity connects directly with tens of millions of gamers each month through its digital media group, Gfinity Digital Media. Gfinity Digital Media includes websites such as: Gfinityesports, RealSport101 and StealthOptional and their respective social channels.

All Gfinity services are underpinned by the Company's proprietary technology platform delivering a level playing field for all competitors and supporting scalable multi-format leagues, ladders and knockout competitions.