Gunsynd PLC Investment Update -- Media Tech SPAC PLC
March 28 2022 - 7:17AM
RNS Non-Regulatory
TIDMGUN
Gunsynd PLC
28 March 2022
Gunsynd plc
("Gunsynd" or the "Company")
Investment Update - Media Tech SPAC PLC
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce an
update on its investee company Media Tech SPAC PLC ("MTS"), a
public unlisted special purpose acquisition company which has
announced that it has agreed to acquire 100% of the share capital
of Drylab A/S ("Drylab"). Gunsynd is a shareholder in MTS,
announced previously on 21 April 2021.
Background to the acquisition
Drylab is a leading film and TV production SaaS platform in
Scandinavia. The acquisition is expected to complete in the coming
weeks. Once complete, the combined businesses will be renamed
"Drylab Media Tech plc".
The combination of MTS and Drylab positions the enlarged
business for growth through the proprietary technology built by
Drylab and the big studio experience and network of the MTS
executives.
The intention is to use MTS' network to expand the Drylab
platform into the global marketplace and leverage the unprecedented
growth being experienced by the film and TV production industry,
which in turn is driving demand for solutions that improve the
production process.
MTS believes Drylab has a leading edge over its competitors as
it the only platform that combines both an on set production tool
and digital dailies platform.
For more information regarding this acquisition:
https://www.mtsplc.com/
Gunsynd owns 1,250,000 ordinary shares at a cost of 4 pence per
share which it acquired for a total consideration of GBP50,000.
Peter Ruse, a director of Gunsynd, commented: "Gunsynd is
pleased to see that MTS has achieved what they set out to do;
deliver a value adding acquisition for shareholders. Given their
extensive experience in the Media and Technology sectors, we
believe the MTS board is well equipped to scale the Drylab business
and capture a piece of the high growth global film and video
market."
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's ability to execute
and implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
For further information please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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END
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