RE: Major shareholders21 Apr 2024 04:01
Doze, does this help?
The Company also announces the issuance of new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") as payment of consulting fees in accordance with the consultancy agreement announced on 22 August 2022, with DG Infratech Pte Ltd ("DG") (the "DG Agreement") (together, the "Agreement").
The Agreement provides that new Ordinary Shares would be awarded to DG, and thus the following monthly consulting fee will be settled via the issuance of new Ordinary Shares:
· in lieu of DG's retainer fee for the period from 1 January 2023 to 31 December 2023 of £180,000, the Company will issue 4,363,636 new Ordinary Shares to DG.
GCM confirms that following the issue of new Ordinary Shares, DG will be interested in 4.165% of the Company's enlarged issued ordinary share capital.
RNS -7 March 2024