Business
Issue of Equity
Issue of Equity.
About this update from Gfinity Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION .\n \nThis Announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Gfinity PLC or other evaluation of any securities of Gfinity PLC or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.\n \nThis Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"UK MAR\"). In addition, market soundings (as defined in UK MAR) were taken in respect of certain of the matters contained in this Announcement, with the result that certain persons became aware of such inside information, as permitted by UK MAR. Upon the publication of this Announcement, this inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information.\n \n \nFor immediate release\n7 May 2025\nGfinity PLC\n(\"Gfinity\" or the \"Company\")\nIssue of equity\nThe Board is pleased to announce that the Company has today raised £300,000 conditional on Admission, through a Company arranged subscription with third parties (\"Subscription\") at a price of 0.07 pence per new Ordinary Share (the \"Issue Price\"). \nDavid Halley, CEO of Gfinity, commented:\n\"This funding, coupled with the continued development of Connected IQ technology, allows us to take Connected IQ through to industry wide adoption, and is reflective of the efficient model built by the team. With the Digital Media Group currently profitable on a monthly basis and Yentra.AI expected to be cash flow positive from the outset, we will utilise this capital primarily to build out our sales infrastructure for Connected IQ in both the UK and USA to accommodate advertising agency interest in both countries.\"\n \nFundraising\nThe Company has tod...