REG - GSTechnologies Ltd - Completion of the Acquisition of Angra Limited

GSTechnologiesAnnouncement

08/03/2022 07:00

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RNS Number : 9213D  GSTechnologies Ltd  08 March 2022

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

8 March 2022

GSTechnologies Limited

("GST" or the "Company" or the "Group")

Completion of the Acquisition of Angra Limited

GSTechnologies Limited (LSE: GST), the fintech and information technology
solutions company, is pleased to announce the completion of the Company's
acquisition of Angra Limited ("Angra"), a UK-based foreign exchange and
payment services company (the "Acquisition"). This follows Financial Conduct
Authority ("FCA") approval for the change of control of Angra, announced on 18
February 2022, and the completion of all outstanding matters in connection
with the Acquisition.

Angra, which operates under the AngraFX brand name, is an established FCA
approved Authorised Payment Institution ("API"), conducting fast, secure and
low-cost foreign exchange business and payment services internationally.  GST
intends to utilise Angra as the basis on which to build the UK arm of its
planned blockchain-enabled neobanking business based on three initial
use-cases: international money transfers, borderless accounts, and private
stablecoin.

Tone Goh, Chairman of GST, commented: "We are very pleased to have completed
the acquisition of Angra and we look forward to working with their management
and employees as we seek to rapidly progress our plans.  As previously
outlined, Angra will form a cornerstone for the development of our blockchain
enabled neobanking business, providing an established, appropriately-regulated
base on which to build our planned UK business.

"We are continuing to rapidly progress our overall fintech business plan, in
conjunction with our collaboration partner, Wise MPay, and I look forward to
providing further updates in due course."

Enquiries:

 The Company
 Tone Goh, Executive Chairman                          +65 6444 2988
 Financial Adviser
 VSA Capital Limited                                   +44 (0)20 3005 5000
 Simon Barton / Pascal Wiese
 Broker
 ETX Capital                                           +44 (0)20 7392 1400
 Tom Curran / Thomas Smith
 Financial PR & Investor Relations
 IFC Advisory Limited                                  +44 20 (0) 3934 6630

 Tim Metcalfe / Graham Herring / Florence Chandler

For more information please see: https://gstechnologies.co.uk/
(https://gstechnologies.co.uk/)

 

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