Gunsynd PLC Further Placing to Raise GBP104,000 (1846S)
July 07 2020 - 2:00AM
UK Regulatory
TIDMGUN
RNS Number : 1846S
Gunsynd PLC
07 July 2020
Gunsynd PLC
("Gunsynd" or the "Company")
Further Placing to Raise GBP104,000
Further to the placings announced by the Company on 11 June 2020
and 6 July 2020, Gunsynd (AIM: GUN, AQSE: GUN) announces that, in
order to satisfy excess investor demand, it has placed a further
16,000,000 new ordinary shares to raise gross proceeds of
approximately GBP104,000 (the "Placing"). The new ordinary shares
have also been placed at a price of 0.65 pence per share (the
"Placing Price").
In line with the placings announced on 11 June and 6 July, the
places ("Placees") will also receive one warrant for every three
ordinary shares subscribed for, exercisable at 1.3 pence (the
"Placing Warrants") and expiring on the one-year anniversary of the
date of issue. In aggregate, 5,333,334 Placing Warrants will be
issued.
The net proceeds of the Placing will provide the Company with
additional funding to progress its activities and make investments
in line with its stated investing policy.
Related Party Transactions
Peter Ruse and Donald Strang, Directors of the Company, have, on
the same terms as the Placees above, subscribed for GBP31,000 in
aggregate, being 4,769,231 new ordinary shares in the placing
representing 30% of the total Placing ("Director Participation").
Further, as participants in the Placing on the same terms as the
Placees above, Peter Ruse and Donald Strang will each receive
Placing Warrants, on the basis of one warrant for every three
ordinary shares subscribed for, on the same terms as the
Placees.
The shareholdings of the Directors in question both prior to and
subsequent to the Director Participation are as follows:
Director No. of Subscription Resultant % of issued
shares shares no. of shares share capital
Peter Ruse 764,706 2,400,000 3,164,706 1.24
---------- ------------- --------------- ---------------
Donald Strang 8,450,980 2,369,231 10,820,211 4.25
---------- ------------- --------------- ---------------
The subscriptions described above, including the issue of the
Placing Warrants, are deemed to be related party transactions for
the purposes of Rule 13 of the AIM Rules. Hamish Harris, being the
sole independent director of the Company for the purposes of this
subscriptions, considers, having consulted with the Company's
Nominated Adviser, that the terms of the subscriptions and the
issue of the Placing Warrants are fair and reasonable insofar as
shareholders are concerned.
The Placing Shares will rank pari passu with the existing
Ordinary Shares and an application has been made to the London
Stock Exchange for admission of the 16,000,000 Placing shares to
trading on AIM ("Admission"). Admission is expected to occur at
8.00 a.m. on or around 13 July 2020.
Total voting rights
Following Admission, the Company's issued share capital will
comprise 254,367,047 Ordinary Shares with voting rights. The
Company does not hold any Ordinary Shares in treasury. The figure
of 254,367,047 Ordinary Shares may therefore be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
The Directors of Gunsynd accept responsibility for this
announcement.
For further information, please contact:
Gunsynd plc
Hamish Harris +44 20 7440 0640
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 20 7469 0930
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.
END
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