GSTechnologies Ltd Partial Conversion of Loan Facility (0318N)
January 18 2023 - 2:00AM
UK Regulatory
TIDMGST
RNS Number : 0318N
GSTechnologies Ltd
18 January 2023
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 which forms part of UK
law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
18 January 2023
GSTechnologies Limited
("GST" or the "Company" or the "Group")
Partial Conversion of Loan Facility
GSTechnologies Limited (LSE: GST), the fintech company,
announces that the Company has received a conversion notice from
the Loan Facility provider to convert US$275,000 principal amount
of the Loan Facility and the associated interest of US$27,500
(10%), into new ordinary share of no-par value in the capital of
the Company ("Ordinary Shares").
The conversion price per Ordinary Share under the terms of the
Loan Facility has been determined to be 0.491334 pence per new
Ordinary Share and the conversion will therefore result in
50,560,138 new Ordinary Shares being issued to the provider (the
"Conversion Shares").
Following this conversion, a total of US$525,000 principal
amount remains outstanding under the Loan Facility.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for the
50,560,138 Conversion Shares to be admitted to trading on the Main
Market of the London Stock Exchange and the Standard Segment of the
FCA Official List ("Admission"). It is expected that Admission will
become effective and that dealings in the Conversion Shares on the
Main Market of the London Stock Exchange will commence at 8.00 a.m.
on or around 23 January 2023.
On Admission, the Company's issued share capital will consist of
1,599,118,330 Ordinary Shares, each with one voting right. There
are 60,000,000 Ordinary Shares held in treasury. Therefore, the
Company's total number of Ordinary Shares and voting rights will be
1,539,118,330 and this figure may be used by shareholders following
Admission 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.
Capitalised terms not otherwise defined in this announcement
have the same meanings as ascribed to them in the Company's
announcement of 28 December 2022.
Enquiries:
The Company
Tone Goh, Executive Chairman +65 6444 2988
Financial Adviser
VSA Capital Limited +44 (0)20 3005 5000
Simon Barton / Tolgahan Kuce
Broker
OvalX +44 (0)20 7392 1400
Tom Curran / Thomas Smith
Financial PR & Investor Relations
IFC Advisory Limited +44 20 (0) 3934 6630
Tim Metcalfe / Graham Herring / Florence gst@investor-focus.co.uk
Chandler
For more information please see:
https://gstechnologies.co.uk/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CONFLFERLDIDLIV
(END) Dow Jones Newswires
January 18, 2023 02:00 ET (07:00 GMT)
Gstechnologies (LSE:GST)
Historical Stock Chart
From Apr 2024 to May 2024
Gstechnologies (LSE:GST)
Historical Stock Chart
From May 2023 to May 2024