REG - GSTechnologies Ltd - Result of Retail Offer

GSTechnologiesAnnouncement

20/01/2025 07:00

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RNS Number : 8589T  GSTechnologies Ltd  20 January 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
(EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE
OF THE EU (WITHDRAWAL) ACT 2018.

 

 

20 January 2025

GS Technologies Ltd

 

("GST" or the "Company")

 

Result of Retail Offer

 

GSTechnologies Ltd (LSE:GST), the fintech company, is pleased to announce,
further to its announcement of 14 January 2025, that it has conditionally
raised £500,000 (before expenses) via the issue of 26,315,789 new ordinary
shares of no par value in the capital of the Company (the "Retail Offer
Shares") at a price of 1.90 pence per share (the "Issue Price") pursuant to
its offer to its existing retail shareholders via CMC CapX (the "Retail
Offer").

 

Due to exceptional demand, the Retail Offer was significantly oversubscribed
in relation to its original retail target raise of £250,000 and the Company
decided to accommodate some of the excess demand from its shareholders by
increasing the size of the Retail Offer.  This has still resulted in
participants being scaled back from their original amounts requested.  The
Company wishes to thank shareholders for their continued support.

 

The Retail Offer is conditional on the Retail Offer Shares being admitted to
trading on the Main Market of the London Stock Exchange plc ("Retail Offer
Admission").  Retail Offer Admission is expected to take place at 8.00 a.m.
on or around 23 January 2025.

 

In addition to the Retail Offer, the Company has also conducted a placing (the
"Placing") of new ordinary shares to raise gross proceeds of £2,000,000 (the
"Placing Shares"), as announced on 14 January 2025.  The Placing Shares are
expected to be admitted to trading on the Main Market of the London Stock
Exchange plc at 8.00 a.m. today, 20 January 2025 ("Placing Admission").  For
the avoidance of doubt, the Retail Offer is separate from and does not form
part of the Placing.

 

Total voting rights

 

Following Placing Admission, the total issued share capital of the Company
will be 2,139,533,053 ordinary shares, of which 1,155,287 ordinary shares are
held in treasury. Therefore, the Company's total number of Ordinary Shares and
voting rights will be 2,138,377,766 and this figure may be used by
shareholders 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.

 

Following Retail Offer Admission, the total issued share capital of the
Company will increase to 2,165,848,842 ordinary shares, of which 1,155,287
ordinary shares are held in treasury. Therefore, the Company's total number of
Ordinary Shares and voting rights will be 2,164,693,555 and this figure may be
used by shareholders 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

First Sentinel Corporate Finance

+44 (0)20 3855 5551  

Brian Stockbridge / Gabrielle Cordeiro

 

Broker

CMC Markets

+44 (0)20 3003 8632

Douglas Crippen

 

Financial PR & Investor Relations

IFC Advisory Limited

Tim Metcalfe / Graham Herring / Florence Chandler

+44 20 (0) 3934 6630

 

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

 

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