Placing and Subscription to Raise £293,239.00
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of the UK version of 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 ("MAR"). Upon the publication of this Announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN ONLY WITH SUCH PERSONS. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF GLOBAL CONNECTIVITY PLC.
6 August 2026
Global Connectivity Plc (the "Company")
("GCON" or the "Company")
Placing and Subscription to Raise £293,239.00
Global Connectivity Plc (AQSE:GCON), the investing Company focused on strategic holdings in high-growth, connectivity-aligned technologies, announces it has raised £293,239.00 (gross proceeds) through Hybridan LLP ("Hybridan") by way of a placing ("Placing") of 208,239,000 new ordinary shares of 0.01 pence each ("Ordinary Shares") in the capital of the Company ("Placing Shares") and subscription ("Subscription") of 85,000,000 new Ordinary Shares of 0.01 pence each ("Subscription Shares") at an issue price of 0.1 pence per Placing Share and per Subscription Share ("Issue Price").
The Issue Price is at the closing bid price of an Ordinary Share on 5 August 2026 (being the latest practicable date prior to this announcement).
Net proceeds from the Fundraising will be allocated to working capital and provide the Company with the financial runway to July 2027, assuming that the Executive Chairman continues not to draw his fees in the absence of a liquidity event.
Directors' Participation
A Director of the Company, Dr Keith Harris, is participating for new Ordinary Share at the Issue Price.
|
Director |
Shares subscribed |
Placing participation |
Resultant shareholding |
Resultant % of issued share capital* |
|
Dr Keith Harris |
100,000,000 |
£100,000.00 |
137,460,067 |
22.27% |
|
Mrs Janie Harris |
0 |
0 |
2,666,640 |
0.43% |
|
Dr Keith Harris and Mrs Harris's holding
|
100,000,000 |
£100,000.00 |
140,126,707 |
22.70% |
*As enlarged by the issue of the Placing Shares and Subscription Shares
Dr. Keith Harris, Executive Chairman of GCON, commented:
"I am delighted with the support this Fundraising has received from existing shareholders. This funding will enable us to pursue our consistently stated strategy."
Admission, Settlement and Dealings
Application will be made to AQSE for the new Ordinary Shares to be issued pursuant to the Fundraising and Director Subscription to be admitted to trading on AQSE ("Admission"). It is expected that Admission will become effective and that dealings in the Fundraising Shares will commence, at 8 a.m. on or around 10 August 2026.
The Fundraising Shares will, on Admission, rank pari passu in all respects with the existing Ordinary Shares in issue and will rank in full for all dividends and other distributions declared, made or paid on Ordinary Shares after Admission.
Total Voting Rights
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the above shares, its issued Ordinary Share capital will comprise 617,335,989 Ordinary Shares. All the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 617,335,989. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or a change to their interest in, the Company.
For further information please 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 www.hybridan.com |
About Global Connectivity plc
Global Connectivity PLC (GCON) is an investment company within the communication services sector. The Company originally listed as an operating company on AQSE in October 2020 as Rural Broadband Solutions (RBBS) as a provider of Fixed Wireless Access (FWA) to rural areas. In October 2022, RBBS (now GCON) announced an investment from Tiger Infrastructure Partners through a newly formed holding company "Rural Broadband Solutions Holdings Limited" (RBSHL) and as a result changed its name to Global Connectivity PLC (GCON). GCON is a shareholder in leading UK broadband provider Voneus Limited through its investment in Rural Broadband Solutions Holdings Limited.
Appendix - Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|||||||
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a) |
Name |
Dr Keith Harris |
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2. |
Reason for notification |
|
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a) |
Position/Status |
Executive Chairman |
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b) |
Initial notification/ Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Global Connectivity Plc |
||||||
|
b) |
LEI |
213800MCRBNG3UHI1A31 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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|
a) |
Description of the financial instrument, type of instrument |
Ordinary shares of GBP0.001 per share par value
ISIN: GB00B16GQJ90 |
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b) |
Nature of the transaction |
Subscription for new Ordinary Shares |
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c) |
Price(s) and volume(s) |
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Price |
Volume |
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0.1 pence
|
100,000,000 |
|
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d) |
Aggregated information
- Aggregated Volume
- Price |
As above
|
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e) |
Date of the transaction |
10 August 2026 |
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f) |
Place of the transaction |
Aquis Stock Exchange |
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Important Notices
The content of this Announcement has been prepared by and is the sole responsibility of the Company.
This Announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia (the "United States" or "US")), Australia, Canada, New Zealand, Japan, the Republic of South Africa, any member state of the EEA or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.
No public offer of the securities referred to herein is being made in any such jurisdiction.
This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
The distribution of this Announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. When you sell your investment, you may get back less than you originally invested. Figures refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.
Certain statements in this Announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as "aim", "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, assumptions and uncertainties that could cause the actual results of operations, financial condition, liquidity and dividend policy and the development of the industries in which the Company's businesses operate to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given those risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements speak only as at the date of this Announcement and cannot be relied upon as a guide to future performance. The Company and BookBuild expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Conduct Authority, AQSE or applicable law.
Hybridan LLP ("Hybridan") is authorised and regulated by the FCA in the United Kingdom. Hybridan is acting solely as broker and bookrunner exclusively for the Company and no one else in connection with the Fundraising and the contents of this Announcement and will not regard any other person (whether or not a recipient of this Announcement) as its client in relation to the Fundraising or the contents of this Announcement nor will it be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this Announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on Hybridan by FSMA or the regulatory regime established thereunder, Hybridan accepts no responsibility whatsoever, and makes no representation or warranty, express or implied, for the Fundraising or the contents of this Announcement including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on behalf of it, the Company or any other person, in connection with the Company and the contents of this Announcement, whether as to the past or the future. Hybridan accordingly disclaims all and any liability whatsoever, whether arising in tort, contract or otherwise (save as referred to above), which it might otherwise have in respect of the contents of this Announcement or any such statement.
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