GSTechnologies Ltd Result of Retail Offer

RNS Number : 8589T

GSTechnologies Ltd

20 January 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018.

 

 

20 January 2025

GS Technologies Ltd

 

("GST" or the "Company")

 

Result of Retail Offer

 

GSTechnologies Ltd (LSE:GST), the fintech company, is pleased to announce, further to its announcement of 14 January 2025, that it has conditionally raised £500,000 (before expenses) via the issue of 26,315,789 new ordinary shares of no par value in the capital of the Company (the "Retail Offer Shares") at a price of 1.90 pence per share (the "Issue Price") pursuant to its offer to its existing retail shareholders via CMC CapX (the "Retail Offer").

 

Due to exceptional demand, the Retail Offer was significantly oversubscribed in relation to its original retail target raise of £250,000 and the Company decided to accommodate some of the excess demand from its shareholders by increasing the size of the Retail Offer.  This has still resulted in participants being scaled back from their original amounts requested.  The Company wishes to thank shareholders for their continued support.

 

The Retail Offer is conditional on the Retail Offer Shares being admitted to trading on the Main Market of the London Stock Exchange plc ("Retail Offer Admission").  Retail Offer Admission is expected to take place at 8.00 a.m. on or around 23 January 2025.

 

In addition to the Retail Offer, the Company has also conducted a placing (the "Placing") of new ordinary shares to raise gross proceeds of £2,000,000 (the "Placing Shares"), as announced on 14 January 2025.  The Placing Shares are expected to be admitted to trading on the Main Market of the London Stock Exchange plc at 8.00 a.m. today, 20 January 2025 ("Placing Admission").  For the avoidance of doubt, the Retail Offer is separate from and does not form part of the Placing.

 

Total voting rights

 

Following Placing Admission, the total issued share capital of the Company will be 2,139,533,053 ordinary shares, of which 1,155,287 ordinary shares are held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 2,138,377,766 and this figure may be used by shareholders 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.

 

Following Retail Offer Admission, the total issued share capital of the Company will increase to 2,165,848,842 ordinary shares, of which 1,155,287 ordinary shares are held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 2,164,693,555 and this figure may be used by shareholders 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

[phone]

 

Financial Adviser

First Sentinel Corporate Finance

[phone]  

Brian Stockbridge / Gabrielle Cordeiro

 

Broker

CMC Markets

[phone]

Douglas Crippen

 

Financial PR & Investor Relations

IFC Advisory Limited

Tim Metcalfe / Graham Herring / Florence Chandler

[phone]

 

For more information please see: https://gstechnologies.co.uk/

 

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