31 December 2024
("GCON" or the "Company")
Investment in new
company
Global Connectivity plc (AQSE:
GCON), a company focused on communication services and technologies
that enhance connectivity, and a shareholder in leading UK
broadband provider Voneus Limited through its investment in Rural
Broadband Solutions Holdings Limited, is pleased to announce
that it has invested £100,000.00 into a Company
called PLUG Group Limited ("PLUG") by way of £50,000.00 of new
shares issued by PLUG and £50,000.00 shares purchased from a
founder of PLUG. The shares were purchased at £2.00 each for 4 per
cent of PLUG at a post money valuation of £2,500,000.00.
PLUG is a company developing
commercial opportunities to extract decommissioned copper cables
for Carriers including Telefonica Brazil. PLUG uses both
direct-pull methods as well as a pump-extract method developed by
Fast2Fibre UK for which PLUG has the exclusive rights to use their
technology in South America.
Dr.
Keith Harris, Executive Chairman,
commented: "We are delighted to be
making an investment in a technology business that is both one that
focuses on connectivity and communications, with a strong and large
international element. PLUG has in turn access to some fascinating
technology and is focused in a large market in Brazil where there
is a need for better technology. We are delighted to be bringing
this news to shareholders on the last day of the year which has
proven to be one of net asset growth for GCON."
--ENDS--
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 UK law by virtue of the European Union
(Withdrawal) Act 2018. Upon publication of this announcement, this
inside information is now considered to be in the public
domain.
The Directors of the Company accept
responsibility for the content of this announcement.
For
more information, contact:
Dr. 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
www.hybridan.com