Global Connectivity PLC Further investment in Voneus

RNS Number : 0143V

Global Connectivity PLC

29 January 2025

 

29 January 2025

 

 

 

("GCON" or the "Company")

 

Further investment in Voneus

 

Global Connectivity plc (AQSE: GCON), a company focused on communication services and technologies that enhance connectivity, and a shareholder in leading UK broadband provider Voneus Limited through its investment in Rural Broadband Solutions Holdings Limited and a shareholder in PLUG Group Limited, announces that on 15 January, a further combined capital investment of £6,198,805 was made into Voneus by its shareholders.

 

On 21 November 2024, we reported a valuation of £11.7m, which equated to 3.2p per GCON share. With this latest investment, RBSHL's stake in Voneus remained at 41% after Voneus invested £2,543,236 of the total round of £6,198,805. As in November, Global Connectivity plc again elected not to invest and now owns a 9.0% stake in RBSHL's common equity.

 

The intrinsic value of Voneus should be expected to have increased at the point of future investment, which serves to mitigate the effects of dilution for GCON.

 

 

 

 

--ENDS--

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.

 

The Directors of the Company accept responsibility for the content of this announcement.

 

 

For more information, contact:

 

Dr. Keith Harris

Executive Chairman

Global Connectivity plc

Email:  [e-mail]

https://www.globalconnectivityplc.com/

 

Claire Louise Noyce

AQSE Stock Exchange Corporate Advisor and AQSE Corporate Broker

Hybridan LLP  

Tel: [phone]

Email: [e-mail]

www.hybridan.com

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 [e-mail] 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

 

 

NEXGZGZMNRMGKZM