GSTechnologies Ltd Loan Facility Cancellation (5322U)
March 29 2023 - 2:00AM
UK Regulatory
TIDMGST
RNS Number : 5322U
GSTechnologies Ltd
29 March 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").
29 March 2023
GSTechnologies Limited
("GST" or the "Company" or the "Group")
Loan Facility Cancellation
GSTechnologies Limited (LSE: GST), the fintech company,
announces that the Company has cancelled the Loan Facility
announced on 28 December 2022 and therefore the second installment
of US$800,000 will no longer be available to be drawn down.
As announced on 28 December 2022, the Company entered into an
unsecured convertible loan facility to receive funding of up to
US$1.6 million. The first installment of US$800,000 was drawn down
and up to a further US$800,000 was available to be drawn down from
26 June 2023. However, having reviewed the capital requirements of
the Company the Directors no longer wish to have the Loan Facility
available for utilisation later this year and have therefore
cancelled the Loan Facility. A total of US$285,000 principal amount
remains outstanding under the Loan Facility from the first
installment, with the remainder already having been converted into
the Company's equity as previously announced.
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 / Thomas Jackson
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
MSCFLFERVRITFIV
(END) Dow Jones Newswires
March 29, 2023 02:00 ET (06:00 GMT)
Gstechnologies (LSE:GST)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gstechnologies (LSE:GST)
Historical Stock Chart
From Jul 2023 to Jul 2024