Anyone any thoughts on this part of the RNS....In consideration for providing the debt finance to Bidco. SLE has pledged its shares in Bidco to Tosca (The share pledge) and agreed to issue 10m warrants in SLE to Tosca at 25p per share (The Warrants) The warrants are exercisable for the period of 7 years from the date of issue. The company has also agreed to pay Tosca an arrangement fee of $3m on completion of the purchase by the company of any of the loan notes......The placing £136m will be used to purchase the loan notes from Tosca and repurchase the additional $100m of loan notes required to complete remaining transactions also fund transaction costs and provide working capital..........Shares to remain suspended pending new admission document or an announcement that the acquisition is not proceeding...There is no certainty that the acquisition will be completed.
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