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The latest announcement is out from GS Chain Plc ( (GB:GSC) ).
GS Chain has reached a termination and settlement agreement with Citymeade Limited to end their previously signed Convertible Investment Agreement. The investor had advanced about £120,000, and in full and final settlement the company will issue 48,000,000 new ordinary shares, subject to shareholder authority expected to be obtained at its annual general meeting.
Once the new shares are issued, the convertible funding arrangement will automatically terminate, simplifying GS Chain’s capital structure and crystallising dilution for existing shareholders. The company plans to confirm the allotment and the date for admission of the new shares to trading on the London Stock Exchange in a further announcement, marking the formal close-out of this financing line.
More about GS Chain Plc
GS Chain Plc is a London-listed company whose shares trade on the main market of the London Stock Exchange. The company raises capital through equity issuance and has previously used convertible investment structures with institutional investors to support its corporate activities and funding needs.
Average Trading Volume: 1,074,350
Technical Sentiment Signal: Sell
Current Market Cap: £1000K
See more data about GSC stock on TipRanks’ Stock Analysis page.