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Mwalimu. Yes you were wrong!
This is from the document and relates to the placing offer for existing shareholders Offer to Shareholders As previously announced, in recognition of Shareholders� continued loyalty and valuable support, the Board intends to offer those Shareholders (save for restricted overseas Shareholders) who held shares as at the date of the Company�s suspension from trading on AIM in December 2016 and who continue to hold their Ordinary Shares, the opportunity to participate in an equity fundraising, at 10 pence per share, the same price as the Placing. Any such fundraising would be capped at a maximum of �500,000. The Board currently expects to make such an offer in Q1 2018 and further details will be announced, following Admission, as and when appropriate.
You�ll find most of what you need here http://cradlearc.com/wp-content/uploads/2018/01/247433-Cradle-Arc-WEB.pdf
As I remember it has been stated somewhere(?) that existing ordinary shareholders (you, me and the like) will be offered the option to purchase shares at the cost of 10p per share. Approximately 5,000,000 shares in total will be offered this way. Each individual shareholder will only be able purchase a limited number of these discounted shares, depending on the number of shares they held prior to 24.1.2018. Obviously shareholders may purchase as many shares as are available if they wish to pay an opening price which exceeds 10p. Of course if the market opens with a share price of less than 10p , then the offer described above is irrelevant and one may simply purchase as many shares as one wishes and that are available. I understand that this offer is by way of reward to longstanding shareholders. My observations above are my take on the information available and my ability to understand the technicalities involved. I am no expert, in fact more of a novice trying to get my head around the subject.. I have brought this subject to the fore as I have seen little mention of it, some longer holding shareholders could do with a bonus, and I still do not have the situation clear in my head.