Goldman Sachs chief credit strategist Lotfi Karoui departs after 18 years - Bloomberg
LONDON - Global Connectivity Plc (AQSE:GCON), an investment company focused on connectivity technologies, reported total assets of £4.85 million for the six months ended June 30, 2025, representing a 72% decline from £17.21 million in the same period last year.
The company posted a loss of £7.71 million for the first half of 2025, compared to a profit of £9.36 million in the first half of 2024, according to the interim results released Thursday.
GCON maintained its 2.82% stake in Rural Broadband Solutions Holdings Limited (RBSHL) with a fair value of £4.1 million, while increasing its investment in PLUG Group Limited to 7% ownership at a cost of £175,250.
Cash reserves declined to £46,000 as of June 30, 2025, down from £318,000 a year earlier and £292,000 at the end of December 2024.
During the period, the company forfeited and cancelled 18,662,500 shares previously owned by Mr. Hersh on February 5, 2025. GCON also made two additional investments in PLUG Group, purchasing a 2% stake for £50,000 on April 24, followed by another 1% stake for £25,000 on June 30.
After the reporting period, on August 12, 2025, the company received a favorable court judgment that enables it to pursue recovery of a £375,000 debt owed by Mr. Hersh, plus accrued interest and hearing costs.
GCON’s Chairman Keith Harris was appointed as Non-Executive Chairman of PLUG on July 21, 2025, according to the press release statement.
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