Business
Further Placing to Raise £104,000
Further Placing to Raise £104,000.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \n \n RNS Number : 1846S\n Gunsynd PLC\n 07 July 2020\n \n \n \n \n Gunsynd PLC\n \n \n (\"Gunsynd\" or the \"Company\")\n \n \n Further Placing to Raise £104,000\n \n \n Further to the placings announced by the Company on 11 June 2020 and 6 July 2020, Gunsynd (AIM: GUN, AQSE: GUN) announces that, in order to satisfy excess investor demand, it has placed a further 16,000,000 new ordinary shares to raise gross proceeds of approximately £104,000 (the \"Placing\"). The new ordinary shares have also been placed at a price of 0.65 pence per share (the \"Placing Price\").\n \n \n In line with the placings announced on 11 June and 6 July, the places (\"Placees\") will also receive one warrant for every three ordinary shares subscribed for, exercisable at 1.3 pence (the \"Placing Warrants\") and expiring on the one-year anniversary of the date of issue. In aggregate, 5,333,334 Placing Warrants will be issued. \n \n \n The net proceeds of the Placing will provide the Company with additional funding to progress its activities and make investments in line with its stated investing policy.\n \n \n Related Party Transactions\n \n \n Peter Ruse and Donald Strang, Directors of the Company, have, on the same terms as the Placees above, subscribed for £31,000 in aggregate, being 4,769,231 new ordinary shares in the placing representing 30% of the total Placing (\"Director Participation\"). Further, as participants in the Placing on the same terms as the Placees above, Peter Ruse and Donald Strang will each receive Placing Warrants, on the basis of one warrant for every three ordinary shares subscribed for, on the same terms as the Placees.\n \n \n The shareholdings of the Directors in question both prior to and subsequent to the Director Participation are as follows:\n \n \n \n \n \n Director\n \n \n \n \n No. of shares\n \n \n \n \n Subscription shares\n \n \n \n \n Resultant no. of shares\n \n \n \n \n % of issued share capital\n \n \n \n \n \n \n Peter Ruse\n \n \n \n \n 764,706\n \n \n \n \n 2,400,000\n \n \n \n \n 3,164,706\n \n \n \n \n 1.24\n \n \n \n \n \n \n Donald Strang\n \n \n \n \n 8,450,980\n \n \n \n \n 2,369,231\n \n \n \n \n 10,820,211\n \n \n \n \n 4.25\n \n \n \n \n \n \n \n \n The subscriptions described above, including the issue of the Placing Warrants, are deemed to be related party transactions for the purp...