Global Connectivity - Investment in new company

Global Connectivity

31/12/2024 12:00

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RNS Number : 7420R  Global Connectivity PLC  31 December 2024

31 December 2024

 

 

 

 

("GCON" or the "Company")

 

Investment in new company

 

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, is pleased to announce that it has
invested £100,000.00 into a Company called PLUG Group Limited ("PLUG") by way
of £50,000.00 of new shares issued by PLUG and £50,000.00 shares purchased
from a founder of PLUG. The shares were purchased at £2.00 each for 4 per
cent of PLUG at a post money valuation of £2,500,000.00.

 

PLUG is a company developing commercial opportunities to extract
decommissioned copper cables for Carriers including Telefonica Brazil. PLUG
uses both direct-pull methods as well as a pump-extract method developed by
Fast2Fibre UK for which PLUG has the exclusive rights to use their technology
in South America.

 

Dr. Keith Harris, Executive Chairman, commented: "We are delighted to be
making an investment in a technology business that is both one that focuses on
connectivity and communications, with a strong and large international
element. PLUG has in turn access to some fascinating technology and is focused
in a large market in Brazil where there is a need for better technology. We
are delighted to be bringing this news to shareholders on the last day of the
year which has proven to be one of net asset growth 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
(mailto:info@globalconnectivityplc.com)

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

 

Claire Louise Noyce

AQSE Stock Exchange Corporate Advisor and 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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