GSTechnologies Ltd FCA Approval for the Change of Control of Angra (1380C)
February 18 2022 - 4:06AM
UK Regulatory
TIDMGST
RNS Number : 1380C
GSTechnologies Ltd
18 February 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
18 February 2022
GSTechnologies Limited
("GST" or the "Company" or the "Group")
FCA Approval for the Change of Control of Angra Limited
GSTechnologies Limited (LSE: GST), the fintech and information
technology solutions company, is pleased to announce that the
Financial Conduct Authority ("FCA") has approved the change of
control of Angra Limited ("Angra"), a UK-based foreign exchange and
payment services company, allowing the Company's agreement to
acquire the whole of the issued share capital of Angra, as
announced on 5 October 2021 (the "Acquisition"), to complete.
As completion of the Acquisition was only conditional on GST
obtaining approval from the FCA for the change of control of Angra,
a regulated entity, as announced on 1 November 2021, the Company
will now proceed with customary completion mechanics in order to
formally complete the Acquisition.
Angra, which operates under the AngraFX brand name, is an FCA
approved Authorised Payment Institution ("API"), conducting fast,
secure and low-cost foreign exchange business and payment services
internationally. The completion of the Acquisition will enable GST
to utilise Angra as the basis on which to build the UK arm of its
planned blockchain-enabled neobanking business based on three
initial use-cases: international money transfers, borderless
accounts, and private stablecoin.
Tone Goh, Chairman of GST, commented : "We are very pleased to
have received FCA approval for the change of control of Angra.
Angra, based in London, will form a cornerstone for the development
of our blockchain enabled neobanking business, providing an
established, appropriately regulated, base on which to build our
planned UK business.
"We are continuing to rapidly progress our fintech plans, in
conjunction with our collaboration partner, Wise MPay, and I look
forward to providing further updates in due course."
Enquiries:
The Company
Tone Goh, Executive Chairman +65 6444 2988
F inancial Adviser
+44 (0)20 3005
VSA Capital Limited 5000
Simon Barton / Pascal Wiese
Broker
+44 (0)20 7392
ETX Capital 1400
Tom Curran / Thomas Smith
Financial PR & Investor Relations
IFC Advisory Limited
Tim Metcalfe / Graham Herring / Florence +44 20 (0) 3934
Chandler 6630
For more information please see:
https://gstechnologies.co.uk/
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END
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