RCS - Gunsynd PLC - Investment Update – Media Tech SPAC PLC

GunsyndAnnouncement

28/03/2022 12:30

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RNS Number : 2483G  Gunsynd PLC  28 March 2022

Gunsynd plc

 

("Gunsynd" or the "Company")

 

Investment Update - Media Tech SPAC PLC

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce an update on its
investee company Media Tech SPAC PLC ("MTS"), a public unlisted special
purpose acquisition company which has announced that it has agreed to acquire
100% of the share capital of Drylab A/S ("Drylab"). Gunsynd is a shareholder
in MTS, announced previously on 21 April 2021.

 

 

Background to the acquisition

 

Drylab is a leading film and TV production SaaS platform in Scandinavia. The
acquisition is expected to complete in the coming weeks. Once complete, the
combined businesses will be renamed "Drylab Media Tech plc".

 

The combination of MTS and Drylab positions the enlarged business for growth
through the proprietary technology built by Drylab and the big studio
experience and network of the MTS executives.

The intention is to use MTS' network to expand the Drylab platform into the
global marketplace and leverage the unprecedented growth being experienced by
the film and TV production industry, which in turn is driving demand for
solutions that improve the production process.

MTS believes Drylab has a leading edge over its competitors as it the only
platform that combines both an on set production tool and digital dailies
platform.

For more information regarding this acquisition:  https://www.mtsplc.com/
(https://www.mtsplc.com/)

 

Gunsynd owns 1,250,000 ordinary shares at a cost of 4 pence per share which it
acquired for a total consideration of £50,000.

 

Peter Ruse, a director of Gunsynd, commented: "Gunsynd is pleased to see that
MTS has achieved what they set out to do; deliver a value adding acquisition
for shareholders. Given their extensive experience in the Media and Technology
sectors, we believe the MTS board is well equipped to scale the Drylab
business and capture a piece of the high growth global film and video market."

 

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

 

For further information please contact:

 

 Gunsynd plc

 Hamish Harris/ Peter Ruse     +44 (0) 78 7958 4153

 Cairn Financial Advisers LLP

 James Caithie / Liam Murray   +44 (0) 20 7213 0880

 Peterhouse Capital Limited

 Lucy Williams                 +44 (0) 20 7469 0936

 

 

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