REG - Gfinity PLC - Director/PDMR Shareholding

GfinityAnnouncement

26/09/2024 15:00

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RNS Number : 8625F  Gfinity PLC  26 September 2024

For immediate release

26 September 2024

Gfinity PLC

("Gfinity" or the "Company")

Director / PDMR Shareholding

Issue of equity

 

The Board of Gfinity plc (AIM:GFIN) is pleased to announce that further to the
announcement earlier today ("Announcement"), David Halley has now subscribed
£30,000 for 200,000,000 new Ordinary Shares ("Subscription Share") at a
subscription price of 0.015p per new Ordinary Share "(Subscription Price")
("Subscription").

The 200,000,000 Subscription Shares issued pursuant to the Subscription will
rank pari passu with the existing Ordinary Shares and application will be
made for admission of the Subscription Shares to be admitted to trading on AIM
on or around 4 October 2024 ("Admission"). The proceeds of the Subscription
will provide additional working capital for the Company.

 

Voting Rights

In accordance with the Disclosure and Transparency Rules of the Financial
Conduct Authority ("FCA"), the total issued share capital on Admission will
consist of 3,599,029,913 ordinary shares of 0.01p each, none of which are to
be held in treasury. Therefore, the total number of voting rights in the
Company on Admission is 3,599,029,913.

 

The above mentioned figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in the Company, under the
FCA's Disclosure and Transparency Rules.

 

Related Party

David Halley is a director of the Company and the Subscription is being
treated as a related party transaction pursuant to Rule 13 of the AIM Rules
for Companies. Accordingly, the Independent Directors (being the Board other
than David Halley) consider, having consulted with the Company's nominated
adviser, Beaumont Cornish, that the Subscription is fair and reasonable
insofar as Gfinity's Shareholders are concerned. In particular the Directors
have taken into account that the Subscription Price of 0.015p per Subscription
Share is the same as the Conversion Price of the Notes, the terms of which
were set out in the Announcement earlier today.

 

Other Information

A copy of this announcement is available at the Company's website:
www.gfinityplc.com (http://www.gfinityplc.com) . Words and phrase defined in
the Announcement will have the same meaning in this announcement.

 

Enquiries:

 Gfinity Plc                    David Halley      +44 (0)7516 948427

 Beaumont Cornish Limited       Roland Cornish    +44 (0)207 628 3396

 Nominated Adviser and Broker   Michael Cornish   www.beaumontcornish.co.uk (http://www.beaumontcornish.co.uk/)

 

Further Information

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and will not
be responsible to anyone else for providing the protections afforded to the
clients of Beaumont Cornish or for providing advice in relation to such
proposals. Beaumont Cornish has not authorised the contents of, or any part
of, this document and no liability whatsoever is accepted by Beaumont Cornish
for the accuracy of any information, or opinions contained in this document or
for the omission of any information. Beaumont Cornish as nominated adviser to
the Company owes certain responsibilities to the London Stock Exchange which
are not owed to the Company, the Directors, Shareholders, or any other person.

ENDS

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