REG - GSTechnologies Ltd - Placing to raise £750,000

GSTechnologiesAnnouncement

17/05/2023 11:30

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RNS Number : 7500Z  GSTechnologies Ltd  17 May 2023

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European Union (Withdrawal) Act 2018 ("MAR").

 

17 May 2023

 

GSTechnologies Limited

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

Placing to raise £750,000

GSTechnologies Limited (LSE: GST), the fintech company, announces that the
Company has raised gross proceeds of £750,000 through a placing (the
"Placing") of 75,000,000 shares of no par value in the Company ("Ordinary
Shares") at a price of 1.0 pence per share ("Placing Shares").

The Placing Shares equate to approximately 4.4% of the Company's currently
issued share capital.  The funds raised from the Placing will be principally
used to accelerate the implementation of the Group's GS Money strategy,
including potentially via acquisition.  Further announcements will be made by
the Company in due course as appropriate.

CMC Markets UK Plc ("CMC Markets"), acted as the Company's sole placing agent
in respect of the Placing.

Admission and Total Voting Rights

The Placing has been conducted utilising the Company's existing share
authorities.  The Placing Shares will rank pari passu in all respects with
the existing shares.  The Placing is conditional, inter alia, on there being
no breach of the obligations under the Placing Agreement entered into between
CMC Markets and the Company prior to Admission, and admission of the Placing
Shares to trading on the Main Market of the London Stock Exchange
("Admission") becoming effective.  Application will be made to the London
Stock Exchange for the Placing Shares to be admitted to trading on the Main
Market of the London Stock Exchange and the Standard Segment of the FCA
Official List.  It is expected that Admission will become effective and that
dealings in the Placing Shares on the Main Market of the London Stock Exchange
will commence on or around 23 May 2023.

On Admission, the Company's issued share capital will consist of 1,838,222,277
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 1,778,222,277 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.

 

Enquiries:

 The Company
 Tone Goh, Executive Chairman                            +65 6444 2988
 Financial Adviser
 VSA Capital Limited                                     +44 (0)20 3005 5000
 Simon Barton / Evon Chan
 Broker
 CMC Markets                                             +44 (0)20 3003 8632
 Douglas Crippen
 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/)

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

 

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