Global Connectivity - Further investment by RBSHL and others in Voneus
Announcement provided by
Global Connectivity PLC · GCON11/06/2024 07:00
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11 June 2024
Global Connectivity plc
("GCON" or the "Company")
Further investment by RBSHL and others in Voneus
Global Connectivity plc (AQSE: GCON), a company focused on communication services and technologies that enhance connectivity and a shareholder in leading
This latest investment in Voneus increases RBSHL's stake to 41% from 38%. Global Connectivity plc owns a 15% stake in RBSHL's common equity.
The most conservative method of valuation, particularly in the early period of a merged entity, is to use the cost of investment as the principal determinant. This is what we have adopted, which mirrors the practice of Tiger Infrastructure, GCON's partner in and majority shareholder of RBSHL. To date Tiger has invested
The vast majority of Tiger's investment has been made since the merger of Macquarie's and RBSHL's interests into Voneus was announced in September 2023. Moreover, by prior agreement, the extent of this subsequent investment has far exceeded that made by Macquarie. As a result, RBSHL's percentage ownership of Voneus has increased from an initial 25% to approximately 41% with a consequent increase in GCON's indirect ownership.
Moreover, Voneus now operates on a fully integrated basis with a resultant increase in the rate of growth of homes passed, those ready for service and sales to customers. The historic valuation of approximately
GCON has uploaded a new presentation to its website at: https://www.globalconnectivityplc.com/documents
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of
The Directors of the Company accept responsibility for the content of this announcement.
--ENDS--
For more information, contact:
Keith Harris
Executive Chairman
Global Connectivity plc
Email: info@globalconnectivityplc.com
https://www.globalconnectivityplc.com/
Claire Louise Noyce
AQSE Stock Exchange Corporate Advisor and Corporate Broker
Hybridan LLP
Tel: +44 20 3764 2341
Email: claire.noyce@hybridan.com
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