RE: Share consolidation24 Aug 2023 13:28
0.013p another target in this sense roughly, from page 15:
As the Company needs to issue additional equity to meet the minimum market capitalisation of Β£30m to be eligible for readmission of its Ordinary Shares on the Standard List segment following an acquisition, existing
shareholders of the Company will be potentially diluted to a greater extent than if the Company
were to list on another exchange were no such minimum market capitalisation of Β£30m is required.
If the Company is unable to carry out an equity financing for cash, then the Company could, if such
terms were acceptable, issue a larger number of consideration shares to the shareholders of the
proposed target, which would also cause the existing shareholders of the Company to suffer a great
level of dilution in the Company. The Company would only enter into a potential RTO if the
expected enlarged market cap was greater than Β£30m and such that the Β£30m market capitalisation
requirement under LR 2.2.7R could be satisfied.