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LONDON - GSTechnologies Ltd (LSE:GST), a fintech company, has announced a retail offer to its existing shareholders in the United Kingdom (TADAWUL:4280), aiming to raise up to £250,000 through the issuance of new ordinary shares. The retail offer, which is separate from the company's recent placing that sought to raise £2 million, is set to provide existing retail shareholders with an opportunity to participate in the company's growth.
The retail offer, which opened on Monday, allows eligible shareholders to subscribe for new ordinary shares at an issue price of 1.90 pence per share. To be eligible, shareholders must have held company shares before the announcement, be resident in the United Kingdom, and be a customer of a participating financial intermediary.
The offer is expected to close on Friday, with the company reserving the right to close it earlier. The results will be announced on the following Monday, and the admission of the retail offer shares is anticipated to occur on or around the subsequent Thursday.
GSTechnologies has emphasized the importance of its retail shareholder base and is facilitating the offer through the CMC CapX platform. The minimum subscription per investor has been set at £250. It is important to note that once applications are made and accepted, they are irrevocable.
The newly issued shares will rank equally with the existing ordinary shares, including rights to dividends and other distributions. This retail offer is part of an exemption that allows the company to raise funds without issuing a prospectus, as long as the total consideration does not exceed £250,000.
Investors are reminded that an investment in the company involves risks and the value of investments can fluctuate. The company advises investors to seek independent advice if in doubt about the investment.
The information for this article is based on a press release statement by GSTechnologies Ltd.
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