REG - GSTechnologies Ltd - Partial Conversion of Loan Facility

GSTechnologiesAnnouncement

18/01/2023 07:00

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RNS Number : 0318N  GSTechnologies Ltd  18 January 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").

18 January 2023

GSTechnologies Limited

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

Partial Conversion of Loan Facility

 

GSTechnologies Limited (LSE: GST), the fintech company, announces that the
Company has received a conversion notice from the Loan Facility provider to
convert US$275,000 principal amount of the Loan Facility and the associated
interest of US$27,500 (10%), into new ordinary share of no-par value in the
capital of the Company ("Ordinary Shares").

The conversion price per Ordinary Share under the terms of the Loan Facility
has been determined to be 0.491334 pence per new Ordinary Share and the
conversion will therefore result in 50,560,138 new Ordinary Shares being
issued to the provider (the "Conversion Shares").

Following this conversion, a total of US$525,000 principal amount remains
outstanding under the Loan Facility.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the 50,560,138
Conversion Shares to be admitted to trading on the Main Market of the London
Stock Exchange and the Standard Segment of the FCA Official List
("Admission").  It is expected that Admission will become effective and that
dealings in the Conversion Shares on the Main Market of the London Stock
Exchange will commence at 8.00 a.m. on or around 23 January 2023.

On Admission, the Company's issued share capital will consist of 1,599,118,330
Ordinary Shares, each with one voting right.  There are 60,000,000 Ordinary
Shares held in treasury. Therefore, the Company's total number of Ordinary
Shares and voting rights will be 1,539,118,330  and this figure may be used
by shareholders following Admission as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.

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 / Tolgahan Kuce
 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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