RE: It’s a Dog !!14 Jul 2025 09:47
Following receipt of the final regulatory approval noted above, the Company has agreed the terms of an addendum to the share purchase agreement ("SPA"), notified on 13 December 2024, whereby the principal LEM vendors have agreed that the share consideration for the Acquisition, being $3.0 million, shall be settled on completion of the Acquisition through the issue of 28,640,042 new ordinary Shuka shares ("Consideration Shares"), with no deferred consideration shares, equivalent to an issue price of 7.737p per share (being a 10% discount to an agreed reference price of 8.5965p under the terms of the SPA), a significant premium to the current market price.
The Consideration Shares will represent, upon issue, 29.99% of the Company's enlarged issued share capital.
As compensation for the issuance of the Consideration Shares upon completion, with no deferred consideration shares, the Company has agreed to issue LEM with a further 2,000,000 warrants with an exercise price of 12.5p and expiry date of 31 December 2027, subject to the LEM vendors not holding post exercise, in aggregate, over 29.99% of the Total Voting Rights.
The dog wont be barking when we get an update on this.