Fundraise of £200,000,Directors Participation,TVR
Summary by AI BETAClose X
10 October 2025
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")
Fundraise to raise £200,000, Directors' Participation, TVR
Global Connectivity Plc (AQSE: GCON), an investing Company focused on strategic holdings in high-growth, connectivity-aligned technologies, is pleased to announce that it has raised gross proceeds of approximately £200,000 through a placing ("Placing") and direct subscription (the "Subscription") (together, the "Fundraise") of 13,333,346 new ordinary shares of 1 pence each in the capital of GCON ("Ordinary Shares") at a price of 1.5 pence per Ordinary Share (the "Issue Price").
The Fundraise comprised the Placing of 9,999,946 Ordinary Shares to raise approximately £150,000 from existing shareholders, conducted by Hybridan LLP, and the Subscription by the Company's Chairman, Dr Keith Harris of 3,333,400 Ordinary Shares to raise a further approximately £50,000.
A second director, Mr Michael Langoulant, was interested in 666,640 Ordinary Shares directly in the Placing. A party connected to Dr Keith Harris was also interested in 666,640 Ordinary Shares directly in the Placing.
The Company intends to apply proceeds from the Fundraise to provide additional working capital.
The Placing Price represents a premium of approximately 30 per cent. to the mid-market closing price of an ordinary share on 9 October 2025 (being the latest practicable date prior to this announcement).
Admission and Total Voting Rights
Application has been made for the Placing and Subscription Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be issued and to be admitted to trading on AQSE and dealing is expected to commence on or around 14 October 2025 ("Admission").
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (the "DTRs"), following Admission, GCON will have 324,096,989 Ordinary Shares in issue with voting rights attached. This figure of 324,096,989 may be used by shareholders in the Company 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 DTRs.
Directors' participation
The beneficial holding of Dr Keith Harris and Michael Langoulant following Admission of the new Ordinary Shares is set out below:
|
Director |
Total Ordinary Shares held on Admission |
% of issued share capital held on Admission |
|
Dr Keith Harris and his wife Mrs Janie Harris |
40,126,707 |
12.38% |
|
Mr Michael Langoulant |
666,640 |
0.21% |
Dr Keith Harris, Executive Chairman, commented:
"We want to thank our loyal shareholders for their continued support. We recognise that new issues of equity capital are generally undertaken at a discount to the prevailing market price of the issued shares. In this instance, however, the Board has determined that pricing at a premium is both appropriate and in the best interests of existing shareholders. The premium reflects the Board's confidence in our underlying value, our growth prospects, and the strong support of our shareholders who endorse this confidence.
The premium also serves to minimise dilution for existing shareholders not participating in this placing, while aligning all investors with our strategic vision, and both short term as well as long term outlook.
The proceeds of the placing will provide working capital pending the anticipated returns from the strategic investment we have made in PLUG Group Limited.
The Board wishes to thank our fellow investors for their continued support."
The Directors of Global Connectivity Plc accept responsibility for the contents of this announcement.
- ENDS -
For more information, contact:
Keith Harris
Executive Chairman
Global Connectivity plc
Email: info@globalconnectivityplc.com
https://www.globalconnectivityplc.com/
Claire Louise Noyce
AQSE Stock Exchange Corporate Advisor and Corporate Broker
Hybridan LLP
Tel: +44 20 3764 2341
Email: claire.noyce@hybridan.com
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