Business
Fundraising, board changes, change of adviser
Fundraising, board changes, change of adviser.
About this update from Gfinity Plc
[{"type":"text","content":"\n\n \n \nTHIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION OR FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, TRANSMISSION, RELEASE, DISTRIBUTION OR FORWARDING WOULD BE UNLAWFUL.\n \nFor immediate release\n9 August 2023\nGfinity PLC\n(\"Gfinity\" or the \"Company\")\nFundraising\nProposed Board changes\nProposed share capital reorganisation\nChange of adviser\n \nSummary\nThe Board of Gfinity plc (AIM:GFIN) is pleased to announce that the Company has today conditionally raised £450,000 through a Company arranged Subscription at a price of 0.06 pence per New Ordinary Share (the \"Issue Price\"). The Subscription is conditional on the passing of the resolutions to be proposed at a General Meeting (\"Resolutions\").\n \nAs the Company's Existing Ordinary Shares have a nominal value of 0.1 pence at present, to enable the Company to issue shares pursuant to the Subscription at 0.06 pence per share, the Company is proposing to undertake a Share Capital Reorganisation, pursuant to which each Existing Ordinary Share of 0.1 pence currently in issue will be subdivided into one New Ordinary Share of 0.01 pence each and one Deferred Share of 0.09 pence each.\n \nThe recently announced restructuring has allowed the Company to focus on its digital media business, Gfinity Digital Media, which has a significant position in the Gamer website industry. To support that strategy, the Company is proposing certain Board changes:\n \n· David Halley will be joining the Company as Chief Executive Officer on completion of the customary regulatory checks under the AIM Rules.\n· Jonathan Hall ceases to be a director with immediate effect and the Board would like to thank Jonathan for his significant contribution to the Company since it was first admitted to AIM, and to wish him well for the future. In the interim he will continue in his role as Company Secretary until a new appointment is made.\n \nThe Company has today appointed Beaumont Cornish Limited (\"BCL\") as the Company's Nominated Adviser and Broker with immediate effect.\n ...