("Gunsynd" or the "Company")
Issue of Equity
Gunsynd (AIM: GUN, NEX: GUN) announces that it has raised £500,000, gross of expenses, through the issue of 1,351,351,351 new shares of 0.01p each in the Company ("Placing Shares") at a placing price of 0.037 pence per share with certain institutional and private investors ("the "Placing"). This Placing is, inter alia, to raise funds to assist in progressing possible investment opportunities that the Company is currently looking at.
Application is being made for the Placing Shares, which will, on issue, rank pari passu with the existing ordinary shares, to be admitted to trading on AIM and such admission is expected to occur on or around 20 June 2019. The Placing Shares will be admitted to trading on NEX Exchange simultaneously with the admission to AIM.
The Company will therefore have 6,234,275,841 Ordinary Shares in issue with voting rights and admitted to trading on AIM and NEX Exchange. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Hamish Harris, executive Chairman of the Company, commented: "The recent movement in the share price has allowed us to raise money on a far less dilutive basis to shareholders. Not only that but it has increased the opportunities within our own portfolio, not least with respect to the Madagascar oil and gas licence. Rather than being heavily diluted by third party investors we can now look at a wider range of options with respect to progressing work on the block".
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Gunsynd accept responsibility for this announcement.
For further information please contact:
+44 (0) 20 7440 0640
Cairn Financial Advisers LLP (Nominated Adviser/NEX Corporate Adviser):
+44 (0) 20 7213 0880
James Caithie / Liam Murray / Richard Nash
Peterhouse Corporate Finance (Broker)
+44 (0)20 7469 0930