Business
Full Year Results for year ended 31 December 2025
Global Connectivity Plc reported a full-year loss of £8,913,305 for the year ended 31 December 2025, a significant decrease from the prior year's profit of £5,037,696. This decline is largely attributed to impairments on investments, including a 15% write-down of its Voneus stake to £3.5 million and a complete write-off of its £175,000 investment in PLUG Group Limited, which has entered liquidation. The company also announced a new 8% holding in PLUG Networks LLC-FZ, a Dubai-based entity employing former PLUG staff. Despite the loss, the company's net assets stood at £3,822,000, down from £12,536,000 in the previous year, with NAV per share falling to £0.01. The company anticipates needing to conduct a fundraising in the current financial year. Disclaimer*
About this update from Global Connectivity Plc
26 June 2026 The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018 as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon publication of this announcement, this inside information is now considered to be in the public domain. Global Connectivity Plc (the "Company") Full Year Results for the year ended 31 December 2025 Global Connectivity Plc (AQSE: GCON), an investing Company focused on strategic holdings in high-growth, connectivity-aligned technologies, is pleased to announce its Full Year Results for the year ended 31 December 2025. Overview GCON is pleased to announce its continued strategy of investing in the communications and global connectivity sectors. Highlights Rural Broadband Solutions Holdings Ltd ("RBSHL") § With respect to GCON's stake in Voneus Limited ("Voneus") held through RBSHL the lack of credit financing available in the wider broadband infrastructure market has required a reassessment of the original growth targets. § Voneus had built a business investing over £136 million of equity capital, with prudent debt levels in its capital structure and the approximate valuation of the business reached £321 million. § Subsequent funding of the business has been provided by the major shareholders with RBSHL obtaining a stronger ownership position of Voneus of 45.7%. § GCON has not contributed to any of the recent funding rounds and as a result our ownership of RBSHL has fallen to 2.82%. It should be noted that the financial impact of this decline is mitigated by the increase in ownership of Voneus held by RBSHL noted above. § Whilst we are comfortable with the carrying value we have maintained for our investment in Voneus, we decided it was prudent to impair that value by 15% to £3.5 million. PLUG Group Limited ("PLUG") § In December 2024, we invested £100,000 for a 4% stake in PLUG, which we subsequently increased to a total of £175,000 for a 7% holding. The attractiveness of this investment to GCON was clear. Copper cables are telecommunication carriers' major asset. The global switch to fibre optic means copper cables are no longer being used w...
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