Placing to Raise £465,000

RNS Number : 0492S

Gunsynd PLC

06 July 2020

 

Gunsynd PLC

("Gunsynd" or the "Company")

Placing to Raise £465,000

Gunsynd (AIM: GUN, AQSE: GUN) announces that it has placed, through its broker, Peterhouse Corporate Finance ("Peterhouse"), 71,538,462 new ordinary shares to raise gross proceeds of approximately £465,000 (the "Placing"). The new ordinary shares have been placed at a price of 0.65 pence per share (the "Placing Price").

The placees will also receive one warrant for every three ordinary shares subscribed for, exercisable at 1.3 pence (the "Placing Warrants") and expiring on the one-year anniversary of the date of issue. In aggregate, 23,846,154 Placing Warrants will be issued.

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.

The Placing Shares will rank pari passu with the existing Ordinary Shares and an application has been made to the London Stock Exchange for admission of the 71,538,462 Placing shares to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on or around 10 July 2020. 

Total voting rights

Following Admission, the Company's issued share capital will comprise 238,367,047 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. The figure of 238,367,047 Ordinary Shares may therefore 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Hamish Harris, Executive Chairman, commented: "It is pleasing to see such strong support from investors following our recent investment in Rincon Resources. The additional funds will allow us to maintain our stake in Rincon and support it in its future growth plans and pursue additional investments to add to the portfolio."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The Directors of Gunsynd accept responsibility for this announcement.

For further information, please contact:

Gunsynd plc Hamish Harris	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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