Issue of Equity
Gfinity PLC has successfully raised £925,000 through a subscription of 2,312,500,000 new ordinary shares at 0.04 pence per share, a discount to the previous day's closing price. The funds will be used for the commercialisation of CIQ, new business opportunities, and general working capital. Directors are also participating in the subscription, with aggregate subscriptions totaling £59,100. Following this issue, the company's enlarged issued share capital will comprise 8,248,808,108 ordinary shares.
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This Announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Gfinity PLC or other evaluation of any securities of Gfinity PLC or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.
Gfinity PLC
("Gfinity" or the "Company")
Issue of equity
The Board of Gfinity plc (AIM: GFIN) is pleased to announce that the Company has today, conditional on Admission, raised £925,000,000 through a Company arranged subscription ("Subscription") at a price of 0.04 p per new Ordinary Share ("Issue Price").
Fundraising
The Company has today raised £925,000 (before expenses) through a direct Subscription for 2,312,500,000 new Ordinary Shares ("Subscription Shares"), conditional on admission, at the Issue Price. The Subscription Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares.
The directors of the Company will be subscribing, in aggregate, for 147,750,000 Subscription Shares for £59,100 (representing 2.49% per cent of the existing issued share capital) at the Issue Price and on the same terms and conditions as the other subscribers, as follows:
| Director | Subscription Shares | Holding of Ordinary Shares on completion of the Subscription | Interest in the Enlarged Issued Share Capital (Note 1) |
|---|---|---|---|
| Neville Upton | 30,000,000 | 69,490,570 | 0.84% |
| David Halley | 92,750,000 | 398,096,666 | 4.83% |
| Hugo Drayton | 25,000,000 | 33,266,666 | 0.40% |
Note 1: The Enlarged Issued Share Capital on completion of the Subscription will amount to 8,248,808,108 Ordinary Shares.
Further details of the director subscriptions are set out in the Appendix.
The Issue Price represents a discount of 5.9 per cent. to the closing mid-market price per share of 0.0425 p on 7 September 2026 (being the last practicable date prior to the announcement of the Subscription). The Company will issue the Subscription Shares pursuant within the Company's remaining share authorities.
The proceeds (before expenses) from the Subscription, amounting to £925,000, will be used to continue the ongoing commercialisation of CIQ, new business opportunities and provide general working capital.
The Subscription Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares. Application will be made for admission to trading on AIM of the Subscription Shares and which is expected to take place on or around 22 September 2026.
Total Voting Rights
Following the issue of the New Shares, the Company's total issued share capital will consist of 8,248,808,108 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.
On Admission, the abovementioned figure of 8,248,808,108 Ordinary Shares may be used by shareholders in the Company 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, Gfinity under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Other information
A copy of this announcement is available at the Company's website: www.gfinityplc.com
Appendix
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Neville Upton | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chairman | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Gfinity plc | ||||
| b) | LEI | 213800GNV14EDQNRWI17 | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 par value in Gfinity plc | ||||
| Identification code | ISIN: GB00BT9QD572 | |||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | n/a (single transaction) | ||||
| - Aggregated volume | ||||||
| - Price | ||||||
| e) | Date of the transaction | 8 September 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | David Halley | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Gfinity plc | ||||
| b) | LEI | 213800GNV14EDQNRWI17 | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 par value in Gfinity plc | ||||
| Identification code | ISIN: GB00BT9QD572 | |||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | n/a (single transaction) | ||||
| - Aggregated volume | ||||||
| - Price | ||||||
| e) | Date of the transaction | 8 September 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Hugo Drayton | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Gfinity plc | ||||
| b) | LEI | 213800GNV14EDQNRWI17 | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0001 par value in Gfinity plc | ||||
| Identification code | ISIN: GB00BT9QD572 | |||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | n/a (single transaction) | ||||
| - Aggregated volume | ||||||
| - Price | ||||||
| e) | Date of the transaction | 8 September 2026 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
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