REG - GSTechnologies Ltd - Loan Facility Cancellation

GSTechnologiesAnnouncement

29/03/2023 07:00

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RNS Number : 5322U  GSTechnologies Ltd  29 March 2023

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").

29 March 2023

GSTechnologies Limited

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

Loan Facility Cancellation

 

GSTechnologies Limited (LSE: GST), the fintech company, announces that the
Company has cancelled the Loan Facility announced on 28 December 2022 and
therefore the second installment of US$800,000 will no longer be available to
be drawn down.

As announced on 28 December 2022, the Company entered into an unsecured
convertible loan facility to receive funding of up to US$1.6 million.  The
first installment of US$800,000 was drawn down and up to a further US$800,000
was available to be drawn down from 26 June 2023.  However, having reviewed
the capital requirements of the Company the Directors no longer wish to have
the Loan Facility available for utilisation later this year and have therefore
cancelled the Loan Facility.  A total of US$285,000 principal amount remains
outstanding under the Loan Facility from the first installment, with the
remainder already having been converted into the Company's equity as
previously announced.

Capitalised terms not otherwise defined in this announcement have the same
meanings as ascribed to them in the Company's announcement of 28 December
2022.

Enquiries:

 The Company
 Tone Goh, Executive Chairman                            +65 6444 2988
 Financial Adviser
 VSA Capital Limited                                     +44 (0)20 3005 5000
 Simon Barton / Thomas Jackson
 Broker
 OvalX                                                   +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       gst@investor-focus.co.uk

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

 

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