Business
Placing to raise £750,000
Placing to raise £750,000.
About this update from Gstechnologies Ltd.
[{"type":"text","content":"\n\nNOT FOR 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.\nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\").\n \n17 May 2023\n \nGSTechnologies Limited\n(\"GST\" or the \"Company\" or the \"Group\")\nPlacing to raise £750,000\nGSTechnologies Limited (LSE: GST), the fintech company, announces that the Company has raised gross proceeds of £750,000 through a placing (the \"Placing\") of 75,000,000 shares of no par value in the Company (\"Ordinary Shares\") at a price of 1.0 pence per share (\"Placing Shares\").\nThe Placing Shares equate to approximately 4.4% of the Company's currently issued share capital. The funds raised from the Placing will be principally used to accelerate the implementation of the Group's GS Money strategy, including potentially via acquisition. Further announcements will be made by the Company in due course as appropriate.\nCMC Markets UK Plc (\"CMC Markets\"), acted as the Company's sole placing agent in respect of the Placing.\nAdmission and Total Voting Rights\nThe 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 Standard Segment of the FCA O...