Global Connectivity - Further investment in Voneus

Global Connectivity

29/01/2025 07:00

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RNS Number : 0143V  Global Connectivity PLC  29 January 2025

29 January 2025

 

 

 

("GCON" or the "Company")

 

Further investment in Voneus

 

Global Connectivity plc (AQSE: GCON), a company focused on communication
services and technologies that enhance connectivity, and a shareholder in
leading UK broadband provider Voneus Limited through its investment in Rural
Broadband Solutions Holdings Limited and a shareholder in PLUG Group Limited,
announces that on 15 January, a further combined capital investment of
£6,198,805 was made into Voneus by its shareholders.

 

On 21 November 2024, we reported a valuation of £11.7m, which equated to 3.2p
per GCON share. With this latest investment, RBSHL's stake in Voneus remained
at 41% after Voneus invested £2,543,236 of the total round of £6,198,805. As
in November, Global Connectivity plc again elected not to invest and now owns
a 9.0% stake in RBSHL's common equity.

 

The intrinsic value of Voneus should be expected to have increased at the
point of future investment, which serves to mitigate the effects of dilution
for GCON.

 

 

 

 

--ENDS--

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain.

 

The Directors of the Company accept responsibility for the content of this
announcement.

 

 

For more information, contact:

 

Dr. Keith Harris

Executive Chairman

Global Connectivity plc

Email:  info@globalconnectivityplc.com

https://www.globalconnectivityplc.com/
(https://www.globalconnectivityplc.com/)

 

Claire Louise Noyce

AQSE Stock Exchange Corporate Advisor and AQSE Corporate Broker

Hybridan LLP

Tel: +44 20 3764 2341

Email: claire.noyce@hybridan.com (mailto:claire.noyce@hybridan.com)

www.hybridan.com (http://www.hybridan.com)

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