Update on Employee Benefit Trust

Gunsynd plc

("Gunsynd" or the "Company")

Update on Employee Benefit Trust

Gunsynd Plc (AIM: GUN, AQSE: GUN) previously announced on 13 November 2020 that it was in the process of establishing an employee benefit trust called the Gunsynd Employee Benefit Trust ("EBT").

The Company today announces that the trustees of the EBT, LGL Trustees Jersey, have now established the EBT and intend to subscribe for 15,000,000 new ordinary shares ("New Ordinary Shares") in the Company, at par value per New Ordinary Share at an aggregate cost to the Company of £12,750.  Such New Ordinary Shares will represent approximately 3.7% of the issued share capital of the Company following admission of the New Ordinary Shares.

Admission to AIM

Application will be made for the New Ordinary Shares which are to be issued in respect of this subscription to be admitted to trading on AIM ("Admission"). It is expected that Admission of the New Ordinary Shares will become effective at 8.00 a.m. on or around 1 February 2021. The New Ordinary Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 401,341,400 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury. The figure of 401,341,400 Ordinary Shares may therefore 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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.

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