THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE
UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT
2018.
20 January 2025
GS Technologies
Ltd
("GST"
or the "Company")
Result of Retail
Offer
GSTechnologies Ltd
(LSE:GST), the fintech company, is pleased to
announce, further to its announcement of 14 January 2025, that it
has conditionally raised £500,000 (before expenses) via the issue
of 26,315,789 new ordinary shares of no par value in the capital of
the Company (the "Retail Offer
Shares") at a price of 1.90 pence per share (the
"Issue Price") pursuant to
its offer to its existing retail shareholders via CMC CapX (the
"Retail Offer").
Due to exceptional demand, the
Retail Offer was significantly oversubscribed in relation to its
original retail target raise of £250,000 and the Company decided to
accommodate some of the excess demand from its shareholders by
increasing the size of the Retail Offer. This has still
resulted in participants being scaled back from their original
amounts requested. The Company wishes to thank shareholders
for their continued support.
The Retail Offer is conditional on
the Retail Offer Shares being admitted to trading on the Main
Market of the London Stock Exchange plc ("Retail Offer Admission"). Retail Offer
Admission is expected to take place at 8.00 a.m. on or around 23
January 2025.
In addition to the Retail Offer, the
Company has also conducted a placing (the "Placing") of new ordinary shares to
raise gross proceeds of £2,000,000 (the "Placing Shares"), as announced on 14
January 2025. The Placing Shares are expected to be admitted
to trading on the Main Market of the London Stock Exchange plc at
8.00 a.m. today, 20 January 2025 ("Placing Admission"). For the
avoidance of doubt, the Retail Offer is separate from and does not
form part of the Placing.
Total voting rights
Following Placing Admission, the
total issued share capital of the Company will be 2,139,533,053
ordinary shares, of which 1,155,287 ordinary shares are held in
treasury. Therefore, the Company's total number of Ordinary Shares
and voting rights will be 2,138,377,766 and this figure may be used
by shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Following Retail Offer Admission,
the total issued share capital of the Company will increase to
2,165,848,842 ordinary shares, of which 1,155,287 ordinary shares
are held in treasury. Therefore, the Company's total number of
Ordinary Shares and voting rights will be 2,164,693,555 and this
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
Enquiries:
The Company
Tone Goh, Executive
Chairman
+65 6444 2988
Financial
Adviser
First Sentinel Corporate
Finance
+44 (0)20 3855 5551
Brian Stockbridge / Gabrielle
Cordeiro
Broker
CMC Markets
+44 (0)20 3003 8632
Douglas Crippen
Financial PR & Investor
Relations
IFC Advisory Limited
Tim Metcalfe / Graham Herring /
Florence Chandler
+44 20 (0) 3934 6630
