About GCON

Overview

Global Connectivity PLC (GCON) is prioritising high speed connectivity within rural communities

GCON is an investment company within the comunication services sector. The Company originally listed as an operating company on AQSE in October 2020 as Rural Broadband Solutions (RBBS) as a provider of Fixed Wireless Access (FWA) to rural areas. In October 2022, RBBS (now GCON) announced an investment from Tiger Infrastructure Partners through a newly formed holding company "Rural Broadband Solutions Holdings Limited" (RBSHL) and as a result changed its name to Global Connectivity PLC (GCON).

Under the terms of the transaction, Tiger agreed to invest up to £75m into RBSHL and thereby acquired 85% of its shareholder capital. In further consideration GCON also received £850k of cash (by way of repayment of the intercompany loan) and retained 15% ownership of RBSHL which was conditionally protected from further dilution up to the £75m investment level.

In September 2023, Macquarie Capital, the Israel Infrastructure Fund and Tiger merged their rural broadband and fibre assets and simultaneously acquired Broadway partners (another rural broadband provided) under one operating company (Voneus Limited) in which RBSHL has a significant stake. The combined group will be funded with up to £250m in new capital from the three shareholders and bank lenders to advance the Company's and UK government's shared objective of closing the digital divide.

GCON still retains its 15% equity holding in RBSHL as its anchor investment. The strategy is also about seeking other opportunities in technically based businesses that enhance connectivity between consumers or companies that provide services to consumers where enhanced connectivity is essential.

Incorporation

The Company was incorporated as South African Property Opportunities plc as a public limited company in the Isle of Man under the Isle of Man Companies Acts 1931-2004, with registered number 117001C on 27 June 2006. On 7 January 2011, with the approval of shareholders in a general meeting, the Company was re-registered as a company limited by shares under the IOM Act with registered number 006491V. On 6 December 2018, the Company changed its name to SAPO plc. On 19 October 2020, the Company changed its name to Rural Broadband Solutions Plc and on the 25th October 2022 the Company changed its name to Global Connectivity plc following completion of its deal with Tiger Infrastructure Partners.

The Company’s registered office and its principal place of business are in the Isle of Man and are located at Exchange House, 54-62 Athol Street, Douglas, Isle of Man IM1 1JD.

The principal legislation under which the Company operates is the Isle of Man Companies Act and the regulations made thereunder.

Keith Harris

Executive Chairman

Investment banker and financier with over 35 years' experience within private and public companies in a variety of business sectors.

Senior executive positions at leading financial institutions including Morgan Grenfell, Drexel Burnham, HSBC Investment Bank and Seymour Pierce Holdings.

In his various roles, Dr. Harris has been an advisor and principal in many high-profile debt and equity issues as well as complex cross-border merger and acquisition transactions.

Since 2013 has concentrated on developing his consultancy business, principally focusing on advising and financing football clubs as well as becoming chairman of a NASDAQ listed gene therapy company.

Keith currently sits on the Company's Audit and Remuneration Committees.

Selwyn Lewis

Non Executive Director

25 years' experience within London’s banking and financial services industry (focusing on emerging markets, and then trading in distressed debt instruments issued by third world countries / banks).

Strong track record in structuring a number of significant debt buy-back programms, major investments through debt/equity conversions, and many other inventive uses of this distressed debt.

Direct advisory positions to a number of blue chip sporting institutions including Manchester United and Springbok Rugby.

Selwyn currently chairs the Company's Remuneration Committee.

Michael Langoulant

Non Executive Director

Chartered Accountant, corporate and financial advisor who specialises in providing corporate financial services to public companies.

30 years’ experience in public company M&A, corporate administration and fundraising.

Acted as finance director, CFO, company secretary and non-executive director with a number of publicly listed companies.

Former Chairman of ASX listed White Cliff Minerals Limited.

Michael currently chairs the Company's Audit Committee.

Christopher New

Chief Strategist & Technical Officer

Software Engineer, Big Data and Network Designer with over 30 years' commercial experience in designing and implementing solutions for the IT and Telecoms Sectors.

Designed and implemented national data cleansing and pricing model solutions for BT.

Designed and implemented International data acquisition and analysis solutions for BAE Systems.

Designed and implemented Big Data platform and framework for international E-commerce, SCADA and IoT.

Conceived and implemented the SWS network and organically grown over the past 15 years.

Simon Hersh

Chief Financial Officer

Experienced Financial Director / CFO and corporate finance specialist with extensive micro accounting experience across the entrepreneurial SME sector.

Broad experience in company restructurings, mergers, acquisitions, and fund raisings over the last three decades. Corporate finance experience also includes business planning, financial modelling and due diligence.

Specialist sector knowledge includes: IT products and services to schools, Specialist Pharmaceutical Consultancy, Media and Debt management.

Access to a wider team with expertise in financial modelling and forensics.