RE: Why do we need this extra cash ?11 Jan 2022 20:54
Hi all,
My 10p worth on this..
Wording and timing of this RNS for me says FCA announcement is imminent.
This was a rushed placing to be able to fill it at this lower price to ii's who know where it's going when announced, and so this is what they were willing to pay.
Not ideal for us as holders as lower price = more shares needed to be issued to raise the capital required and in turn = more dilution.
However I also believe they are pushing ahead quicker than ever with Wise Mpay development as they know the FCA approval is in the bag. I think this also accounts for this RNS being somewhat out of the blue and much of it copy and paste from the last. This is out of character for GST, but I believe for good reason and not bad.
Looking good
GLA