Worth an investment1 Jul 2025 10:48
· Further to the announcement on 12 June 2025, the Company has today entered into an addendum and variation to the SPA ("Addendum") whereby the LEM vendors have agreed that:
o the share consideration for the Acquisition, being $3.0m, 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 Addendum), a significant premium to the current market price;
o as compensation for the issuance of the Consideration Shares, with no deferred consideration shares, the Company shall, on completion, issue the LEM vendors a further 2,000,000 warrants with an exercise price of 12.5p per share and expiry date of 31 December 2027;