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it shouldn't be .25p, logically. The penalties just get more and more. It would have been better to have had one big placing and paid them off. Like dealing with the mafia!

There has been speculation on the target connected to Antos Glogowski. If the target was mentioned by the company then the stock would be suspended until the RTO docs are produced. Glogowski is involved with lots of projects some of which he finances himself, so for shell speculators this looks a good'un.

It's becoming a Rule 15 cash shell. The only purpose of that is to do an RTO.
The last rns says "The net proceeds of the Placing will provide the Company with further funds to enable the board of directors (the "Board") to carry out a reverse takeover of a suitable target. "

The £6m is nothing to do with this. That rule was created to stop new Aim companies coming to the market as a shell with a tiny bit of cash.
An existing company becoming a shell (rule 15) has to do an RTO within six months or get suspended. Then six months after that it will be cancelled.

So, .25p again. They must have backdated it to yesterday.

Great! It was an error as I thought. 1 warrant for every 2 shares. lol.

If there's not an RTO within 12 months then the warrants are lost. If there is then they get free shares. I wish I were a placee!

Certainly odd to get more 2 warrants for every share. At first I wondered if it was a mistake and it should be the other way around but no correction so far.

That is potentially 3.3b new shares. If warrants are exercised then an extra £660k. RTO targets often don't want unknown quantities like warrants left hanging around so the company has said they'll be converted into shares. Bit of a give away for these placees. Maybe some of the placees are connected to the target? All will be revealed fairly soon after the meeting, IMO..

It's wrong.
https://www.investegate.co.uk/widecells-group-plc--wdc-/rns/holding-s--in-company/201903141047048901S/

There are 406m shares in issue.

The business was sold. Just a shell to be closed down.
https://www.thedrum.com/news/2018/10/16/unilad-sale-ladbible-confirmed-staff-told-brand-will-live-downsizing-mooted

The firm energy auction was held at the end of Feb. Sloane refused to take part. 70 projects were awarded included gas, hydro, wind, solar. The previous renewables only auction didn't award any projects.

https://www.argusmedia.com/en/news/1858357-renewables-debut-in-colombia-firm-energy-auction

Good profit for EHGO now but last year they were potentially losing because they couldn't convert due to the nominal value (,25p) and the lack of a prospectus. Hence the penalties. As far as I can see the company was on the edge of failing before Sefton came along.

115m x .25p = £287,500

The conversion price was .25p the lowest allowable.

I agree with you! lol.

It's not additional cash, they've already paid the cash this is conversion.

Obviously I meant Mon 25th.

Mon 26th the price was still low so they could request a conversion on this Monday and claim 15 "whole" days takes us back to Monday.26th. The temptation to get .25p must be great.

The deal was done by the previous board - including those damn "penalties" which seem more than the conversion. Anyway, the higher prices will kick in if the next conversion is done after Tuesday. Still .25p conversion until then.