Avoid Gfinity (GFIN) by Steve Moore in ShareProphets

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Additional Information

Gfinity is a UK-based esports and gaming solutions provider that trades on the London Stock Exchange under the symbol GFIN. According to the finance results, the Gfinity share price was 0.0879p as of August 30, 2023, up by 3.41% from the previous day. The share price has ranged from 0.055p to 1.36p in the past 52 weeks. The market capitalisation of Gfinity was £2.25 million as of August 30, 2023. Gfinity share price dropped by 23.91% on August 9, 2023, after the company announced a placing, subscription and primary bid offer to raise £5.25 million.

Gfinity made the following company announcements in August 2023: on August 9, 2023, Gfinity announced a placing, subscription and primary bid offer to raise £5.25 million before expenses by issuing 8.75 billion new ordinary shares at a price of 0.06p per share; on August 23, 2023, Gfinity announced the appointment of David Halley as Chief Executive and a Director with immediate effect. David Halley participated in the subscription by subscribing for 66.6 million new ordinary shares, representing 1.96% of the company’s enlarged share capital on admission. Gfinity also granted David Halley an option to subscribe for up to 271.9 million new ordinary shares at an exercise price of 0.06p per share, subject to vesting conditions; and on August 30, 2023, Gfinity held a general meeting to approve the resolutions related to the placing, subscription and primary bid offer.