RE: Sentiment?23 Jun 2023 07:58
Hi Jimi,
RF paid our Genedrive £168,000 for the 682,730 warrants they received from the £300,000 drawdown.
It seems to me RF are selling just the right amount of their shares to keep the SP as low as they can around the 17p level, but hold off from selling at a level that would take and keep the SP below 16p - they want to buy future warrants from future drawdowns - which means they need the SP to stay above 16p, in order that our Genedrive can drawdown further £300,000 monthly amounts.
I believe RF want the warrants, because they see our SP rising nicely, and RF will do very well from these warrants?!!
Well this is how I see it anyway!!!
The above is all -- IMHO
From the RNS:-
''Investors have been granted 682,730 warrants equal to 40% of this drawdown divided by the Reference Price of 17.57648 pence. The exercise price of the warrants payable to the Company will be 140% of the Reference Price equating to 24.6071 pence.''
So how does this work out:-
40% of this drawdown = 40% of £300,000 = 120,000, and 120,000 divided by the reference price of 17.57648 pence = 682,730 warrants
The exercise price of these 682,730 warrants is 140% of the reference price of 17.57648p = 140% x 17.57648 = 24.6071p payable to the company.
Therefore 682,730 warrants x 24.6071p = £168,000