Andrew Ellis Secures Controlling Stake in Worldlink Sport

Worldlink Group Plc, the UK listed Company with patents on providing changing data in real-time for mobile devices, today announced that Across the Line Limited, a company funded by London based property and football entrepreneur Mr. Andrew Ellis, has acquired a 51% controlling stake of its rapidly growing sports and gaming division Worldlink Sport Limited.

In consideration for the investment in Worldlink Sport, Across the Line Limited will provide £1.3m ($2m) to fund upfront commitments required on certain contracts, plus working capital up to a maximum of a further £1.2m ($1.87m) to fund future deals (the “Ellis investment”). Worldlink will receive a revenue stream of 15% of Worldlink Sport’s future net revenues.

Additionally Worldlink has issued £25,000 ($39,000) (250,000) of warrants exercisable at 10 pence per share, £25,000 (125,000) of warrants exercisable at 20 pence per share, £25,000 (83,333) of warrants exercisable at 30 pence per share and £25,000 worth of warrants exercisable at the price at which the Company’s shares are trading following lifting of the Company’s suspension from trading. All warrants are exercisable for a period of 12 months from 11 July 2012.

The Company and Across the Line Limited each has an option to acquire the other shareholders’ shares in Worldlink Sport at its fair value following the signing of Worldlink Sport’s accounts to 31 December 2013 and 31 December 2014. If both parties choose to exercise the option, the party which offers the highest price will be deemed to have exercised the option.

Worldlink Sport has recently entered into Heads of Agreement with multiple high profile sports rights including Premier League teams Sunderland AFC and Newcastle United together with its licensed bookmaking partner, Betbutler as Official Betting and Gaming Partner. Worldlink Sport will now finance these agreements via the Ellis investment and hopes to be able to announce further significant high profile sports rights deals in the near future.

Neil Riches commented: “We are delighted with the agreement reached with Andrew Ellis and the investment into Worldlink Sport Limited. We have concluded many significant deals in the sports market that will mean Worldlink is now a major player in this sector and we look forward to announcing further deals shortly.”

Andrew Ellis added “I am extremely pleased to be involved in Worldlink Sport. Worldlink are bringing amazing new technology to the betting and gaming sector which is going to provide sports fans a superior betting experience. We are confident that Worldlink Sport will become one of the leading companies in the sports and gaming sector with the rights that we are in the process of acquiring.”

This follows Worldlink agreeing a major partnership with iSportconnect.