Regulatory Filing Reveals Vinod Koshny as Head of Guild Esports Investor Compassare Holdings

Guild Esports issues 67M shares to Compassare Holdings chairman

Publicly traded, London-based esports organization Guild Esports (LSE: GILD; OTCQB: GULDF) has filed additional regulatory news service documents linked to its most recent £250K GBP ($319K USD) financing round from Compassare Holdings.

In a May 13 filing, Guild Esports informed its shareholders that the lender exercised its right to convert the £250K convertible loan into  66,666,667 new shares. As part of that filing, the British esports organization also shared that it “does not currently have sufficient headroom” to issue those shares without the publication of a new prospectus. Guild is in the process of preparing and publishing that new prospectus.

In a May 28 filing, Guild Esports’ shareholders were informed of a new major shareholder in the company. The document outlined Compassare Holdings Chairman Koshy Vinod as the person obligated to make the notification. Furthermore, the document informs shareholders that Compassare now controls 8.28% of voting rights.

Compassare Holdings, better known as Compassare Group (كومباسير جروب – ش م ح) in the United Arab Emirates (UAE), is an investment firm established as a free zone company in the Dubai Silicon Oasis.

The transaction is the conclusion of a “convertible loan note agreement” with Compassare Holdings for £250K, or roughly $319K. Under the terms of the agreement, Compassare provided Guild with the principal amount of £250K on a one-year term at an interest rate of 8%. In April Guild said that it expected to pay back the note by March 25, 2025, with interest. The company will use the proceeds for “working capital requirements.”

Compassare executed its right under the agreement to convert the principal amount into “new ordinary shares of £0.001 each in the Company at any time at least 30 days before the final payment date, with a conversion price of £0.00375, equal to a 25% premium to the Company’s share price as of March 28, 2024.”

Guild Esports, which has a minority investment from football star David Beckham, currently competes in Counter-Strike 2, EA FC 24, Fortnite, Street Fighter 6, and sim racing. Guild is also receiving funds from the Saudi Arabian government-backed gaming and esports festival, the Esports World Cup and is one of 30 international teams selected to be part of its incentive program, the Esports World Cup Club Support Program.