For immediate release
26 September
2024
Gfinity PLC
("Gfinity" or the
"Company")
Director / PDMR
Shareholding
Issue of equity
The Board of Gfinity plc (AIM:GFIN)
is pleased to announce that further to the announcement earlier
today ("Announcement"), David Halley has now
subscribed £30,000 for 200,000,000 new Ordinary Shares
("Subscription Share") at a subscription price of 0.015p per new
Ordinary Share "(Subscription Price") ("Subscription").
The 200,000,000 Subscription Shares issued
pursuant to the Subscription will rank pari passu with the existing
Ordinary Shares and application will be made for admission of the
Subscription Shares to be admitted to trading on AIM on or around 4
October 2024 ("Admission"). The proceeds of the Subscription will
provide additional working capital for the Company.
Voting
Rights
In accordance with the Disclosure and
Transparency Rules of the Financial Conduct Authority ("FCA"), the
total issued share capital on Admission will consist of
3,599,029,913 ordinary shares of 0.01p each, none of which are to
be held in treasury. Therefore, the total number of voting rights
in the Company on Admission is 3,599,029,913.
The above mentioned 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 and Transparency Rules.
Related Party
David Halley is a director of the
Company and the Subscription is being treated as a related party
transaction pursuant to Rule 13 of the AIM Rules for Companies.
Accordingly, the Independent Directors (being the Board other than
David Halley) consider, having consulted with the Company's
nominated adviser, Beaumont Cornish, that the Subscription is fair
and reasonable insofar as Gfinity's Shareholders are concerned. In
particular the Directors have taken into account that the
Subscription Price of 0.015p per Subscription
Share is the same as the Conversion Price of the
Notes, the terms of which were set out in the Announcement earlier
today.
Other Information
A copy of
this announcement is available at the Company's website:
www.gfinityplc.com.
Words and phrase defined in the Announcement will
have the same meaning in this announcement.
Enquiries:
|
Gfinity Plc
|
David Halley
|
+44 (0)7516 948427
|
|
Beaumont Cornish Limited
Nominated Adviser and
Broker
|
Roland Cornish
Michael Cornish
|
+44 (0)207 628 3396
www.beaumontcornish.co.uk
|
Further Information
Beaumont Cornish
Limited ("Beaumont
Cornish"), which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and
will not be responsible to anyone else for providing the
protections afforded to the clients of Beaumont Cornish or for
providing advice in relation to such proposals. Beaumont Cornish
has not authorised the contents of, or any part of, this document
and no liability whatsoever is accepted by Beaumont Cornish for the
accuracy of any information, or opinions contained in this document
or for the omission of any information. Beaumont Cornish as
nominated adviser to the Company owes certain responsibilities to
the London Stock Exchange which are not owed to the
Company, the Directors, Shareholders, or any other
person.
ENDS