Worldlink signs heads of terms
Worldlink Group Plc (“Worldlink” or the “Company”) are pleased to announce that it has signed heads of terms with 3 Premier League Football Clubs under which Worldlink becomes the official betting and gaming partner of those clubs. Under these heads of terms there are certain financial commitments which need to be met by the Company. The Company is currently reviewing various options with regards to the financing of these commitments.
The Company is also negotiating similar heads of terms with another Premier League Club and is in advanced talks with a number of other major footballing and sporting organisations.
These deals, both signed and under negotiation, if successfully completed, would significantly increase the revenue generating potential of the Group.
The shares have been suspended this morning due to the late filing of their accounts. It looks to us as if there may be a capital raising as part of the re-list reading between the lines above, certainly absent a settlement in the near term in their case with City Index. I am particularly encouraged by the “would significantly increase the revenue generating potential of the Group” line. Interesting to see at what price they return…