Global Connectivity - Shareholder Update

30 April 2025

("GCON" or the "Company")

Shareholder Update

Global Connectivity plc (AQSE: GCON), (the "Company" or "GCON"), a company focused on communication services and technologies that enhance connectivity, and a shareholder in leading UK broadband provider Voneus Limited ("Voneus") through its investment in Rural Broadband Solutions Holdings Limited ("RBSHL") and a shareholder in PLUG Group Limited ("PLUG"), would like to provide a shareholder update.

Further Investments in Voneus by RBSHL

Further capital investments of £14.5m have been made by Tiger Infrastructure, GCON's partner in and majority shareholder of RBSHL, into RBSHL since GCON's update on 29 January 2025. Of the £14.5m, £8.7m has been invested into Voneus already, with the balance of £5.8m to be invested by RBSHL into Voneus in the future. RBSHL's current stake in Voneus, before the £5.8m is invested into Voneus, is 43.9%. GCON did not invest and now owns a 2.8% stake in RBSHL's common equity.

Further Investment in PLUG

In past announcements GCON has made it clear that it has sought to make appropriate investments in technically based businesses that enhance connectivity. Having identified one such company which satisfied this investment criterion, GCON invested £100,000.00 in PLUG in December 2024 at £2.00 per share for 4 per cent of PLUG at a post money valuation of £2,500,000.00. GCON is pleased to announce that on 24 April, it invested a further £50,000.00 into PLUG for new shares purchased at £2.00 each, for a further 2 per cent of PLUG at the same post money valuation. GCON is now a holder of 6 per cent of PLUG shares. PLUG is a cable extraction company that uses what Directors believe are unique fluid and tension technologies to extract decommissioned network cables for Telecommunications carriers.  It will begin extracting Telefonica Brazil's decommissioned copper cables in June 2025 and is negotiating agreements with V.tal Brazil, Telefonica Spain, and several other Carriers in Europe.

FY Results December 2024

GCON expects to publish Full Year Results to 31 December 2024 at a similar time to last year in mid-May.

Subscriptions due update

Further to the announcements on 31 December 2024, 6 January 2025, and on 5 February 2025 regarding the unpaid share capital in relation to 37,500,000 Ordinary Shares owned by Mr. Barry Hersh, a former consultant, the Company has initiated the process to recover the debt.

Dr. Keith Harris, Executive Chairman, commented: "We are delighted to be making a further investment in PLUG which has patented fascinating technology granting it global access initially focused on the extensive market of Brazil which has substantial demand for innovative solutions."

The Directors of the Company accept responsibility for the content of this announcement.

--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.

For more information, contact:

Dr. Keith Harris

Executive Chairman

Global Connectivity plc

Email:  [email protected]

https://www.globalconnectivityplc.com/

Claire Louise Noyce

AQSE Stock Exchange Corporate Advisor and AQSE Corporate Broker

Hybridan LLP  

Tel: +44 20 3764 2341

Email: [email protected]

www.hybridan.com