GSTechnologies Ltd Completion of the Acquisition of Angra Limited (9213D)
March 08 2022 - 2:00AM
UK Regulatory
TIDMGST
RNS Number : 9213D
GSTechnologies Ltd
08 March 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.
8 March 2022
GSTechnologies Limited
("GST" or the "Company" or the "Group")
Completion of the Acquisition of Angra Limited
GSTechnologies Limited (LSE: GST), the fintech and information
technology solutions company, is pleased to announce the completion
of the Company's acquisition of Angra Limited ("Angra"), a UK-based
foreign exchange and payment services company (the "Acquisition").
This follows Financial Conduct Authority ("FCA") approval for the
change of control of Angra, announced on 18 February 2022, and the
completion of all outstanding matters in connection with the
Acquisition.
Angra, which operates under the AngraFX brand name, is an
established FCA approved Authorised Payment Institution ("API"),
conducting fast, secure and low-cost foreign exchange business and
payment services internationally. GST intends 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 completed the acquisition of Angra and we look forward to
working with their management and employees as we seek to rapidly
progress our plans. As previously outlined, Angra 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 overall fintech
business plan, 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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