GSTechnologies Ltd Placing to raise GBP750,000 (7500Z)
May 17 2023 - 6:17AM
UK Regulatory
TIDMGST
RNS Number : 7500Z
GSTechnologies Ltd
17 May 2023
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ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO
SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.
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").
17 May 2023
GSTechnologies Limited
("GST" or the "Company" or the "Group")
Placing to raise GBP750,000
GSTechnologies Limited (LSE: GST), the fintech company,
announces that the Company has raised gross proceeds of GBP750,000
through a placing (the "Placing") of 75,000,000 shares of no par
value in the Company ("Ordinary Shares") at a price of 1.0 pence
per share ("Placing Shares").
The Placing Shares equate to approximately 4.4% of the Company's
currently issued share capital. The funds raised from the Placing
will be principally used to accelerate the implementation of the
Group's GS Money strategy, including potentially via acquisition.
Further announcements will be made by the Company in due course as
appropriate.
CMC Markets UK Plc ("CMC Markets"), acted as the Company's sole
placing agent in respect of the Placing.
Admission and Total Voting Rights
The Placing has been conducted utilising the Company's existing
share authorities. The Placing Shares will rank pari passu in all
respects with the existing shares. The Placing is conditional,
inter alia, on there being no breach of the obligations under the
Placing Agreement entered into between CMC Markets and the Company
prior to Admission, and admission of the Placing Shares to trading
on the Main Market of the London Stock Exchange ("Admission")
becoming effective. Application will be made to the London Stock
Exchange for the Placing Shares to be admitted to trading on the
Main Market of the London Stock Exchange and the Standard Segment
of the FCA Official List. It is expected that Admission will become
effective and that dealings in the Placing Shares on the Main
Market of the London Stock Exchange will commence on or around 23
May 2023.
On Admission, the Company's issued share capital will consist of
1,838,222,277 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
1,778,222,277 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.
Enquiries:
The Company
Tone Goh, Executive Chairman +65 6444 2988
Financial Adviser
VSA Capital Limited +44 (0)20 3005 5000
Simon Barton / Evon Chan
Broker
CMC Markets +44 (0)20 3003 8632
Douglas Crippen
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/
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END
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May 17, 2023 06:17 ET (10:17 GMT)
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