Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thanks OAP
on first read of the RNS i concentrated on the implications of the accelerator clause (as it was a first for me) and failed to digest the 'any time' that preceded it.
my mistake, and thanks again for the clarification
It makes no sense to sell 35p placing at 52p to buy at 60p. The trigger is 80p but they can trigger early, obviously above 60p. So accepting that it will exceed 60p at some stage in the next 18 months at that point they will pay out or when triggered at 80p. If you don't think that it will ever exceed 60p then the warrants are worthless so the whole conversation is pointless.
Clearly after seeing the huge interest from the market and the contracts start to flow there is absolutely no doubt that 80p will just be a blip on the way to £5+ in the mid to long term.
ICe thanks for your reply. I thought the warrants can be exercised at 60p but the accelerator clause can be activated if the sp is 80p or above for 5 days?
Any overhang from warrants will be short lived if the contracts keep coming.
“ The Warrant holders may exercise at any time during the 18 month life span of the Warrants, however the Warrants have an accelerator clause if the closing mid-market share price of the Company exceeds 80p over a 5-consecutive day period within 18 months of Admission. The Company may serve notice ("Notice") on the Warrant holders to exercise their Warrants in the event that the vesting criterion is met. In the event the Company serves Notice, any Warrants remaining unexercised after 7 calendar days following the notification of the Notice will be cancelled.”
It does if they participated in the placing at 35p and are freeing up funds to exercise their warrants, or having participated in the placing do they all have a pile of cash to exercise the warrants at 60p ?
circa 70p+ makes sense ...
but sorry @ 52p makes no sense to me
We'll see people swapping out from about 70p when they start to buy the warrants.
Yes dumping at 52p to buy at 60p makes a lot of sense......
OAP
I wouldn't have thought so ..yet,
the trigger for exercising the 60p warrants is 80p which is in effect nearly a 60% increase from a current sell price of 50p
where as exercising the 60p warrants would equate to a 25% discount of an 80p SP
so surely it would be more financially beneficial to hold for the rise to circa 80p before selling shares to pay for the warrant?
Is it 5G really or are the Twitter pumpers dumping to fund the warrants at 60p
Hope the accelerator clause is activated
Another double tap, that?s 100,000 shifted by 5G today.
That?s 715,000 out in just over a week, a mere 585,000 left out of the last batch.
Increased volumes are going to wash these guys out. Serious news and we could see a 5m day here and 5G last batch out
imo, dyor
I also use Redmayne, set up the account when I was at university in Leeds many years ago! It took about a week for the warrants to show in my nominee account (they aren't allowed in an ISA apparently) and the delay was because they are physical certificates that were sent from Israel to Peterhouse who then redistributed them. That's the explanation I was given anyway. Hopefully not long before we can exercise them..
Not that it was hard but the Twitter mumblings have grown as much as the sp it seems! Word is getting out .
https://twitter.com/ethernityn/status/1453728216254861317?s=21
Forgot they are at another conference! Attending not displaying if that’s the right term. Incredible week indeed. GLA
Of course.
Windsor branch was mine.
Incidentally, some great clips on twitter regarding ENET. Uploaded yesterday and today.
Disciple
Don’t know Jeremy, there are about 30 or so branches of RB beyond the Leeds hq.In effect it’s almost like a franchise so there is a very strong incentive to give a high quality service.
I used to deal with Redmayne years ago. Is Jeremy still there? I had the gold service from those guys! Highly recommend them.