RNS add funding of £780k26 Mar 2024 15:53
Well this should keep the lights on whilst the resolve the massively overdue accounts to end Jun-23 and interims to end Dec-23 plus resolve the Prospectus with the FCA. It is beyond me how someone is willing to invest £780k with the shares suspended or indeed how that is possible as the prospectus is outstanding so (theoretically) shares cannot be issued or traded ... but I am glad they did as heavy dilution is much more preferable than GCAT going bust and Pis losing 100%.
ATB APR
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The Company has raised £780,000 by way of a Subscription ("Subscription"), through the issue of 260,000,000 new Ordinary Shares of £0.001 in the Company ("Subscription Shares") at a price of £0.003 per Subscription Share.
The funds of the subscription will be paid in five equal instalments of £156,000 and the Company will issue 260,000,000 new Ordinary Shares upon completion of the final instalment
The subscribers from the Subscription will be issued with one warrant ("Warrants") for every new Subscription Share subscribed for, with an exercise price of £0.0042 per Warrant. The Warrants will expire in three years from Admission of the Subscription Shares to trading.
The funds will be used for working capital by the Company and its subsidiaries.