GCON Global Connectivity PLC

TIDMGCON

RNS Number : 3942V

Global Connectivity PLC

05 April 2023

5 April 2023

Global Connectivity Plc

(the "Company" )

SWS BROADBAND APPOINTS 16 NEW PEOPLE TO ITS TEAM

Global Connectivity Plc (AQSE: GCON), formerly known as Rural Broadband Solutions Plc, a company focused on communication services and technologies that enhance connectivity, announces an update from the company in which it holds a 15% stake, Rural Broadband Solutions Holdings Limited (" RBSHL " ). R BSHL holds 100% of Shropshire based SWS Broadband which has taken on 16 members of staff and moved to a new office location in Shrewsbury.

In October 2022, GCON announced an investment from Tiger Infrastructure Partners Fund III LP (" Tiger ") into its two operating subsidiaries and a change of name to Global Connectivity Plc. Tiger is investing up to GBP75 million into RBSHL, a newly formed company, and owns 85% of the common equity of RBSHL.

SWS Broadband specialises in providing high-speed full-fibre broadband services to rural communities. The changes are the beginning of a planned period of sustained activity according to SWS sales director, Rachel Corner.

Rachel Corner said: "While we are eager to advance new projects, adopting a measured approach to delivering our strategic goals is key to sustained business growth. In addition, we don't want to lose sight of SWS's emphasis on a happy, dedicated workforce and the provision of excellent customer service the latter of which, for example, is reflected in our 100 percent 5/5 Trust Pilot review status. We will support them with tailored on-the-job training and look forward to their contributions at what is an exciting and important stage in SWS Broadband's development."

SWS's fibre build is currently ongoing in a number of areas in Shropshire, including Stiperstones, Woolston, Habberley, Cardington, Longville, Bagley, Rushbury, Wall Under Heywood, Ditton Priors, Aston Munslow, Bitterley, Brockton, Bushmoor, Lydbury, Lydham, Clun, Norbury, Wistanstow, Bucknell, Newcastle On Clun, Clee Hill, Bedlam, Bishops Castle, Church Stretton and Craven Arms.

Keith Harris, Executive Chairman of Global Connectivity Plc, commented:

"Tiger shares our vision that we have long held for the business and they add the financial strength to allow us to fulfil that vision, and these new hires are an example of that investment being made."

"We are now looking for opportunities in technically based businesses (albeit ones that do not compete with our existing broadband activities at SWS), that enhance connectivity either between consumers or businesses that provide services to consumers where enhanced connectivity is essential."

The Directors of Global Connectivity Plc accept responsibility for the contents of this announcement.

ENDS

For further information please contact:

Keith Harris

Executive Chairman

Global Connectivity Plc

www.globalconnectivityplc.com

Nick Michaels

AQSE Stock Exchange Corporate Adviser

Alfred Henry Corporate Finance Limited

www.alfredhenry.com

Tel: +44 (0) 203 772 0021

Claire Louise Noyce

AQSE Stock Exchange Corporate Broker

Hybridan LLP

claire.noyce@hybridan.com

www.hybridan.com

Tel: +44 20 3764 2341

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END

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(END) Dow Jones Newswires

April 05, 2023 02:00 ET (06:00 GMT)

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