Global Connectivity - Subscriptions due update

Global Connectivity

06/01/2025 15:00

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RNS Number : 2888S  Global Connectivity PLC  06 January 2025

6 January 2025

 

 

 

 

("GCON" or the "Company")

 

Subscriptions due update

 

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 further to the announcements on 18 December 2024 and 31
December 2024 regarding the unpaid share capital, the Company now confirms
that it is still yet to hear as to how Mr. Barry Hersh, a former consultant of
the Company, intends to settle his £375,000.00 debt, for his 37,500,000
Ordinary Shares, which became overdue on 1 January 2025.

 

As a result of this debt, and to prevent further sales of these unpaid for
shares, the Company has exercised its lien over the 18,662,500 shares which
are directly held by Mr Hersh, which represents 5.67% of the newly reduced
share capital, as a result of which Mr Hersh will not be permitted to trade
those shares unless and until they have been paid for. The Company is now
considering what further steps to take in relation to the unpaid shares and
will update the market as necessary.

 

 

 

 

 

--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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