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On 1 November 2021, GSTechnologies Limited provided an update on its conditional agreement, initially announced 5 October 2021, to acquire Angra Limited. The Company reported the satisfactory conclusion of the due diligence exercise for the acquisition. Completion of the acquisition is now solely conditional on the Financial Conduct Authority granting approval for the change of control of Angra.
| Date | 1 Nov 2021 |
| Time | 07:00:11 |
| Category | Corporate updates |
| ID | 7987Q |
1 November 2021
GSTechnologies Limited
("GST" or the "Company" or the "Group")
Update on the Proposed Acquisition of Angra Limited
GSTechnologies Limited (LSE: GST), the fintech and information technology solutions company, is pleased to announce an update regarding the Company's conditional agreement to acquire the whole of the issued share capital of Angra Limited ("Angra"), a UK-based foreign exchange and payment services company (the "Acquisition"), as announced on 5 October 2021.
As previously announced, completion of the Acquisition was conditional, inter alia, on final due diligence and also on GST obtaining approval from the Financial Conduct Authority ("FCA") for the change of control of Angra, a regulated entity. The Company is pleased to report the satisfactory conclusion of the due diligence exercise and that the Acquisition is now only conditional on the FCA granting approval for the change of control of Angra.
Further announcements will be made in due course as appropriate.
Enquiries:
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The Company |
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Tone Goh, Executive Chairman |
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+65 6444 2988 |
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Financial Adviser |
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VSA Capital Limited |
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+44 (0)20 3005 5000 |
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Simon Barton / Pascal Wiese |
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Financial PR & Investor Relations |
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IFC Advisory Limited Tim Metcalfe / Graham Herring / Florence Chandler |
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+44 (0)20 3934 6630 |
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For more information please see: https://gstechnologies.co.uk/
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.