Gstechnologies Regulatory News (GST)

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This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

11 January 2022

GSTechnologies Limited

("GST" or the "Company" or the "Group")

Placing and Subscription to raise £1.33 million

Appointment of Broker

GSTechnologies Limited (LSE: GST), the fintech and information technology solutions company, is pleased to announce that the Company has raised gross proceeds of £1,335,100 through a placing (the "Placing") of 40,476,190 shares and a subscription for 23,100,000 shares (the "Subscription") of no par value in the Company ("Fundraising Shares") at a price of 2.10 pence per share.

The issue of the Fundraising Shares is within the Company's existing allotment authorities. The Fund Raising Shares equate to approximately 4.3% of the Company's currently issued share capital. In addition, participants in the Placing and the Subscription have been issued with one warrant for every five Fundraising Shares exercisable at 2.10 pence per share at any time up to one year from Admission, as defined below.

The funds raised from the Placing and the Subscription will be principally used to accelerate the implementation of the Group's strategy, in particular covering planned sales and marketing costs, and the costs of further development and implementation of the Wise MPay technology, including in relation to the acquisition of Angra Limited, which remains subject to FCA approval.

Further announcements will be made by the Company as appropriate.

Appointment of Broker

The Company is pleased to announce the appointment of Monecor (London) Ltd, trading as ETX Capital, as the Company's Broker with immediate effect. The Placing was arranged by ETX Capital.

Tone Goh, Chairman of GST, commented: "I am pleased that we are able to announce this successful fundraising, again at a higher price than our previous raise, to provide further funds for our development. I look forward to providing further updates in due course, including in relation to the FCA approval of the Angra acquisition, as we seek to rapidly build a blockchain enabled neobanking business."

Admission and Total Voting Rights

The Placing and the Subscription have been conducted utilising the Company's existing share authorities. The Fundraising Shares will rank pari passu in all respects with the existing shares. The Placing is conditional, inter alia, on there being no breach of the obligations under the Placing Agreement entered into between Monecor (London) Ltd (trading as ETX Capital) and the Company prior to Admission, and admission of the Fundraising Shares to trading on the Main Market of the London Stock Exchange ("Admission") becoming effective. Application will be made to the London Stock Exchange for the Fundraising Shares to be admitted to trading on the Main Market of the London Stock Exchange and the Standard Segment of the FCA Official List. It is expected that Admission will become effective and that dealings in the Fundraising Shares on the Main Market of the London Stock Exchange will commence on or around 17 January 2022.

On Admission, the Company will have 1,548,558,192 shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of shares and voting rights will be 1,548,558,192 and this figure may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

For more information please see: https://gstechnologies.co.uk/