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RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR
TO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH
AFRICA, JAPAN OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA
("EEA") (OTHER THAN ANY MEMBER STATE OF THE EEA WHERE SECURITIES
MAY BE LAWFULLY MARKETED) OR ANY OTHER JURISDICTION WHERE IT IS
UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED
HEREIN DOES NOT CONSTITUTE OR FORM PART OF 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
REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE
UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT
2018.
14 January 2025
GSTechnologies Limited
("GST" or
the "Company" or the "Group")
Placing
and Retail Offer
GSTechnologies Limited (LSE:
GST), the fintech company,
announces that the Company has conditionally raised gross proceeds
of £2,000,000 through a placing (the "Placing") of 105,263,157
shares of no par value in the Company
("Ordinary Shares") at a
price of 1.90 pence per share (the "Issue Price").
In addition to the Placing, as the
Company greatly values its existing retail shareholder base, the
Company also intends to offer its existing retail shareholders a
"Retail Offer" of new
Ordinary Shares at the same Issue Price as the Placing to raise
additional gross proceeds of up to £250,000. The Company will
shortly release a separate announcement regarding the Retail Offer
and its terms. For the avoidance of doubt, the Placing is
separate from and does not form part of the Retail
Offer.
The funds raised from the Placing
and the Retail Offer will be principally used to accelerate the
implementation of the Group's GS Money strategy, including the
advancement of the recently acquired CAKE business and Bake
Cryptocurrency Platform, and
potentially via further acquisitions.
Further announcements will be made by the Company
in due course as appropriate.
CMC Markets UK Plc, trading as CMC
CapX ("CMC Markets"), acted
as the Company's sole placing agent in respect of the
Placing.
Admission
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 Equity Shares (Transition) category
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 20 January 2025.
Enquiries:
The
Company
Tone Goh, Executive Chairman
+65 6444 2988
Financial Adviser
First Sentinel Corporate Finance
+44 (0)20 3855 5551
Brian Stockbridge / Gabrielle
Cordeiro
Broker
CMC Markets
+44 (0)20 3003 8632
Douglas Crippen
Financial PR & Investor
Relations
IFC Advisory Limited
Tim Metcalfe / Graham Herring / Florence
Chandler
+44 20 (0) 3934 6630
