REG - Gfinity PLC - Issue of Equity

GfinityAnnouncement

07/05/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250507:nRSG5634Ha&default-theme=true

RNS Number : 5634H  Gfinity PLC  07 May 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA
OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE
RELEVANT SECURITIES LAWS OF SUCH JURISDICTION .

 

This Announcement does not constitute a prospectus or offering memorandum or
an offer in respect of any securities and is not intended to provide the basis
for any investment decision in respect of Gfinity PLC or other evaluation of
any securities of Gfinity PLC or any other entity and should not be considered
as a recommendation that any investor should subscribe for or purchase any
such securities.

 

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR"). In addition, market soundings (as defined in UK MAR) were
taken in respect of certain of the matters contained in this Announcement,
with the result that certain persons became aware of such inside information,
as permitted by UK MAR. Upon the publication of this Announcement, this inside
information is now considered to be in the public domain and such persons
shall therefore cease to be in possession of inside information.

 

 

For immediate release

7 May 2025

Gfinity PLC

("Gfinity" or the "Company")

Issue of equity

The Board is pleased to announce that the Company has today raised £300,000
conditional on Admission, through a Company arranged subscription with third
parties ("Subscription") at a price of 0.07 pence per new Ordinary Share (the
"Issue Price").

David Halley, CEO of Gfinity, commented:

"This funding, coupled with the continued development of Connected IQ
technology, allows us to take Connected IQ through to industry wide adoption,
and is reflective of the efficient model built by the team. With the Digital
Media Group currently profitable on a monthly basis and Yentra.AI expected to
be cash flow positive from the outset, we will utilise this capital primarily
to build out our sales infrastructure for Connected IQ in both the UK and USA
to accommodate advertising agency interest in both countries."

 

Fundraising

The Company has today raised £300,000, conditional on Admission, through a
Company arranged subscription with third parties ("Subscription") at a price
of 0.07 pence per New Ordinary Share (the "Issue Price") through the issue of
428,571,428 new Ordinary Shares ("Subscription Shares").  The proceeds
(before expenses) from the Subscription will be used to develop the
commercialisation of CIQ, new business opportunities and provide general
working capital.

In addition, the Company will issue 214,285,714 new warrants ("Warrants")
pursuant to the Fundraising on the basis of one-half Warrant for every
Subscription Share. Holders of the Warrants may subscribe for one new Ordinary
Share in the Company at a price of 0.15p for 18 months commencing on issuance.

The Subscription Shares will, when issued, rank pari passu in all respects
with the existing Ordinary Shares. Application is being made for the
428,571,428 Subscription Shares to be admitted to trading on AIM and Admission
is expected to take place on or around 16 May 2025.

 

Other Information

A copy of this announcement is available at the Company's website:
www.gfinityplc.com (http://www.gfinityplc.com)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for
the release of this announcement on behalf of the Company was David Halley,
Chief Executive.

 

 

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.

Forward Looking Statements

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'' ''could'' "should" ''envisage''
''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those
variations or comparable expressions including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors' current expectations and assumptions regarding the Company's
future growth, results of operations, performance, future capital and other
expenditures, competitive advantages, business prospects and opportunities.
Such forward looking statements reflect the Directors' current beliefs and
assumptions and are based on information currently available to the Directors.
A number of factors could cause actual results to differ materially from the
results discussed in the forward-looking statements including risks associated
with vulnerability to general economic and business conditions competition
environmental and other regulatory changes actions by governmental authorities
the availability of capital markets reliance on key personnel uninsured and
underinsured losses and other factors many of which are beyond the control of
the Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions. The Company cannot assure investors that actual results will be
consistent with such forward looking statements.

 

 

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEBLGDUCBGDGUL