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.
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.
THE BOARD & MANAGEMENT