Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

GAME Digital PLC (GMD)

  Print      Mail a friend

Monday 12 February, 2018

GAME Digital PLC

Collaboration agreement & new borrowing facilities

RNS Number : 5189E
GAME Digital PLC
12 February 2018

12 February 2018


GAME Digital plc

Game and Sports Direct collaboration agreement and new £55 million borrowing facilities


GAME Digital plc ("GAME Digital", the "Company" or the "Group"), is pleased to announce that it has entered into a collaboration agreement with Retail Limited ("Sports Direct") (the "Collaboration Agreement").  GAME Spain Holdings Limited ("GSHL"), a subsidiary of the Company, has also entered into a loan agreement with Sports Direct for facilities of up to £55 million on an unsecured basis (the "Facilities Agreement").

The Collaboration Agreement covers the rollout of BELONG and GAME Retail Limited ("GAME Retail") stores, including plans to enter into concession agreements with Sports Direct, pursuant to which BELONG arenas and/or GAME Retail stores will be sited in selected Sports Direct locations.  BELONG is the Group's competitive gaming and esports experience centred around physical 'arenas', bringing both casual and competitive gaming to communities nationwide, in city and town centres and in major shopping centres.

As part of the Collaboration Agreement, Sports Direct has acquired a 50% interest in the rights of the BELONG intellectual property for cash consideration of £3.2 million, and a 50% profit share of future profits of BELONG and associated Venues (as defined below).

The Facilities Agreement comprises a £20 million working capital facility and a £35 million capital expenditure facility, which GAME may utilise to fund the Venues envisaged under the Collaboration Agreement, including the costs for new Venues and ongoing development of the BELONG website and its related tournament management system.

Martyn Gibbs, GAME Digital Chief Executive Officer, said:

"I am delighted that through the Collaboration Agreement we are able to accelerate the implementation of a key element of our transformational strategy to move from a seller of physical products to providing gaming experiences.  As more consumer focus and spend moves to experiences, we are well advanced in delivering unique, world class gaming at both local and national level.  Having launched the BELONG brand just over a year ago, we have now opened 19 arenas and are very encouraged by the popularity and performance of these locations.  We look forward to collaborating with Sports Direct to increase the availability and scale of BELONG and to capitalise on the increasing overlap between sports and esports fans by bringing this unique experience to a wider consumer base."

Jon Kempster, Sports Direct's Chief Financial Officer, said:

"We are very happy to partner with Game in building an increased presence in the esports market through the BELONG brand. This is a very good example of building a commercial relationship via our strategic investment approach."


BELONG is the Group's competitive gaming and esports experience centred around physical 'arenas', bringing both casual and competitive gaming to communities nationwide, in city and town centres and in major shopping centres.  Each arena houses a 'tribe', creating an emotional identity for players to connect with and represent across a range of competitive and community activities, including Arena Clash, BELONG's own grassroots esports tournament.

The arenas provide dedicated space for both PC and console gamers to play with friends, compete in tournaments, enjoy gaming nights, celebrate new games and technology launches and share game themed events and experiences.

A redeveloped website will launch later this month to provide a home for existing BELONG gamers to engage with the brand, whilst also bringing in new customers to their local arena. will allow gamers to reserve their station online ahead of their visit, and provide details of all the exciting upcoming community events and tournaments in their local arena.

The Group has also developed a tournament management system for competitions and events which includes rich functionality, such as team management invitations and applications, single and double elimination features, a rewards mechanic and other important tournament features.  The tournament management system has a development roadmap to offer greater appeal and enjoyment to new and existing customers, including additional tournament formats and leader boards, as well as integration into


Further details on the Collaboration Agreement

The Collaboration Agreement covers the opening of a number of different venue formats, being (i) standalone BELONG arenas, (ii) BELONG arenas located in or next to GAME Retail stores, (iii) BELONG arenas located in Sports Direct stores, (iv) GAME Retail stores located in Sports Direct stores and (v) BELONG arenas and GAME Retail stores located in Sports Direct stores (each a "Venue").  The Group's 19 existing BELONG arenas will also be treated as Venues under the Collaboration Agreement, but the Collaboration Agreement does not apply to standalone GAME Retail stores.

Profits from such Venues will be shared between GAME Retail and Sports Direct, with GAME Retail receiving at least a 50% share.  Where a BELONG arena, a GAME Retail store or a BELONG arena and a GAME Retail store is located in a Sports Direct store, GAME will not share in the profits of that particular Sports Direct store, other than in relation to the profits of the applicable Venue.

GAME Retail will fund the opening of new Venues and will have access to facilities pursuant to the Facilities Agreement to accelerate its planned opening schedule.  GAME Retail and Sports Direct will equally fund the continued development of the online booking software and tournament management system linked to live-gaming events.

New Venues will be opened only if both GAME Retail and Sports Direct agree following a proposal and as part of an approval process.  GAME Retail will continue to own the fixtures and fittings of the Venues.

The Collaboration Agreement also includes provisions regarding the transfer of the business and assets of the BELONG arena business to a new corporate entity in which both the GAME Group and the Sports Direct group would be equal shareholders, subject to obtaining any necessary approvals or regulatory clearances at such time.  It is envisaged that this transfer would take place, save for within the first 12 months, within the initial five year term of the Collaboration Agreement (although the Collaboration Agreement may, in certain circumstances, continue for up to 10 years).

Further details on the Facilities Agreement

GSHL entered into a loan agreement for facilities of up to £55 million on an unsecured basis.  GSHL is a direct subsidiary of GAME Digital plc and is the indirect parent company of GAME Stores Iberia SLU, the Group's Spanish trading company.  The Facilities Agreement comprises a £20 million working capital facility (the "Working Capital Facility") and additionally a £35 million capital expenditure facility (the "Capex Facility").

Interest on borrowings under each of the Working Capital Facility and the Capex Facility shall accrue at 2.5 per cent per annum above the Barclays Bank PLC base rate (such base rate being subject to a floor of 0.5 per cent).

The Working Capital Facility is available until 31 January 2019, with the option to request for an extension. An arrangement fee is payable at the outset and on any extension of the Working Capital Facility.

The Capex Facility is available for drawing until 31 January 2023, with repayments commencing from around two years after the initial draw down of each loan under the Capex Facility (each a "Loan"), and repayable in five equal annual instalments. There is no arrangement fee and no commitment fee in relation to the Capex Facility.

The Facilities Agreement does not include any financial covenants, but does include certain customary restrictions, amongst other things, in relation to mergers, acquisitions, the incurrence of indebtedness and guarantees and disposals, in each case subject to certain exceptions.


Related Party Transaction

As Sports Direct International plc holds a 25.75% shareholding in the Group, Sports Direct is a related party of the Company and this announcement is therefore made in accordance with Listing Rule 11.1.10R.


This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

- Ends -


GAME Digital plc

+44 (0) 1256 784 000

Martyn Gibbs

Chief Executive Officer



Citigate Dewe Rogerson


Jos Bieneman

+44 (0) 207 282 2851

Michael Russell



About GAME Digital plc

Listed on the London Stock Exchange in June 2014, GAME Digital plc is dedicated to delivering an authoritative range of specialist gaming products and services to the gaming communities of the UK, Spain and beyond, providing more ways for gamers to enjoy more games and unique gaming experiences, more often.  GAME's UK and Spanish retail businesses are the market leaders in those geographical areas, operating a total of over 560 stores across the two areas, a fully integrated omni-channel offer, including the multi-award winning GAME App, and over 4.5 million active customers across its Reward programmes.  GAME is developing its proposition with the continued expansion of BELONG, the Group's leisure experience, which brings video-gaming to high streets, shopping centres and communities nationwide.  Through its esports and events activities, the Group is delivering unparalleled consumer gaming experiences directly, and on behalf of third parties, including its flagship event, Insomnia, the UK's largest gaming festival.  The Group's visual recognition and augmented reality business, Ads Reality, is pioneering the use of new technologies to reach gamers and business partners outside its main markets.

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t