Business
Placing and Employee Benefit Share Incentive Plan
Placing and Employee Benefit Share Incentive Plan.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1955F\n Gunsynd PLC\n 13 November 2020\n \n \n \n \n Gunsynd PLC\n \n \n (\"Gunsynd\" or the \"Company\")\n \n \n Placing and Conditional Placing to Raise £1,130,000 and Employee Benefit Share Incentive Plan\n \n \n Gunsynd (AIM: GUN, AQSE: GUN) announces that it has placed, through its broker, Peterhouse Corporate Finance (\"Peterhouse\"), 113,000,000 new ordinary shares (the \"Placing\") at a price of 1 pence per share (the \"Placing Price\") to raise gross proceeds of £1,130,000. The Placing will occur in two tranches as the Company does not have sufficient shareholder authority to issue the shares in full.\n \n \n Tranche 1 - Firm Placing\n \n \n 56,606,789 new ordinary shares have been placed at the Placing Price, representing approximately a 4.8% discount to the closing mid-market price of the Company on 12 November 2020, raising gross proceeds of £566,067 (the \"Firm Placing\"). \n \n \n Tranche 2 - Conditional Placing\n \n \n The balance of 56,393,211 new ordinary shares have been placed, conditional on shareholder approval being given for requisite authorities at a general meeting of the Company (the \"General Meeting\") to be held on or around 1 December 2020, at the Placing Price raising gross proceeds of £563,932 (the \"Conditional Placing\").\n \n \n A circular convening the General Meeting will be sent to shareholders shortly and a further announcement will be made accordingly.\n \n \n Subject to shareholder approval at the General Meeting for the requisite authorities, placees will also receive one warrant for every two ordinary shares subscribed for, exercisable at 2 pence (the \"Placing Warrants\") and expiring on the 18 month anniversary of the date of issue. In aggregate, 56,500,000 Placing Warrants have been conditionally 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 £30,000 in aggregate, being 3,000,000 new ordinary shares in the Placing representing 2.7% of the total Placing (\"Director Participation\"). The Director Participation shares will be issued as part of the Conditi...