RE: Placing Offer Dec 2020 Actual offer Doc.25 Jan 2021 11:05
Warrants
The Company will issue participants in the Placing, one warrant for every Placing Share (the "Warrants"). As a result, 400,000,000 Warrants will be issued to placees pursuant to the Placing and subject to approval of the necessary authorities at the Company General Meeting ("GM") which will be scheduled for January 2021 (details of which are to be announced).
Each Warrant will provide the holder the right to one new Ordinary Share on its exercise. The Warrants will be exercisable at a price of 2p for a three month period from the date of the GM, subject to any extension in accordance with the Warrant instrument. In addition the Company is issuing a further 10,000,000 warrants to each of Peterhouse and SP Angel (the "Broker Warrants") on the same terms as the Warrants and subject to approval at the GM.
If exercised in full, the Warrants and Broker Warrants would result in the issue of a further 420,000,000 new Ordinary Shares.
Taken from previous rns