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Guys...the warrant holders in Rock can exercise the warrants regardless of whether or not they still own the placing shares in respect of which the warrants were issued but would need to have the cash to pay the strike price of the warrants (in Rock's case either 1p or 1.5 p depending on which warrants they have) and then can sell the shares created by the exercise of the warrants.
Very rarely warrants themselves are tradeable (eg MIL not that long ago had tradeable warrants) but that's quite rare and isn't the case with the Rock warrants(whether the 1p or 1.5p warrants.)So the fact that the warrant holders may have to stump up 1p or 1.5p per warrant to convert to shares ,which shares they can then sell, would naturally limit the number of warrants exercised depending of course on the available cash position of the warrant holders. If I held either the 1p or 1.5p warrants I certainly wouldn't be exercising any yet with a view to selling the shares created by the exercise.If nothing else its somewhat counter-productive!
H
Cool but it doesn't change much other than everytime they change hands they will need a higher price to profit.....
Yes that was.my conclusion after reading articles several times lol
Looks like I have learnt something today from researching. You can sell warrants before exercise and trade them like options.
Warrants are detachable.
Not 100% sure but I think you have to hold the shares with the warrants attached to be able to exercise them. The warrants are dormant until exercised by the shareholder in this case the placee's........Can you sell warrants without also selling the shares......... i.e can you sell them on without exercising them in the first place.......
Difference of opinion
My research says they can be bought and sold anytime within the expiration period until exercised.
The placing holders are not necessarily the current holders.
I think!!
has good as
No I dont believe you can transfer warrants to another. You can exercise and convert to shares and then sell the shares.
Rockfire has raised gross proceeds of £350,000 through a placing of 116,666,666 new Ordinary Shares, at an issue price of 0.3 pence per Ordinary Share (the "Placing Shares"). Investors subscribing in the Placing will also receive one warrant for each Placing Share subscribed for (the "Placing Warrants"), exercisable at 1 pence per Placing Warrant for a period of three years from issue.
Should the Company's volume weighted average share price equal or exceed 2 pence per Ordinary Share for five consecutive business days, the Company is obliged to write to each Placing Warrant holder providing notice of exercise of the Placing Warrants after which the Placing Warrant holder will have up to 14 days notice to pay for the exercise of their Placing Warrants ("Accelerator Clause").
For instance.
One person partook in the placing and was issued a warrant exercisable at 1p...cost him nothing.
There is a market.for warrants. The sp is currently let's say .35p...
A buyer.might be found to pay the holder .20p to become the new holder of the warrants , but not able to exercise until 1p
Does anyone 100%.know if this is how warrants work?
Yes solstice,
Still doing some reading on warrants. Now I'm not the brightest button and I often get the wrong meaning of things but I try and educate myself.
Apparently warrants trade through a broker but on a different market. Because these are only 3 months into a 3 year expiration period they will have a higher value.
The warrants entitle the."holder",. These warrants could have been sold numerous times to different holders already but not exercised yet.
Someone more educated than myself please put me right if wrong.
Sorry I Must of missed your point..... feel free to put it in a clear consise post cheers