RE: Shedlight...20 Feb 2020 15:14
Surely this volume is just the new shares being placed futher to the RNS on Friday last week?
The Fundraising comprises a placing of 2,442,500,000 New Ordinary Shares (the "Placing") and a subscription of 57,500,000 New Ordinary Shares (the "Subscription"). The Company has utilised its existing share authorities under the disapplication of pre-emption rights to issue 735,714,286 New Ordinary Shares for settlement and admission on 20 February 2020 (the "Tranche 1 Placing Shares") with the balance of 1,764,285,714 New Ordinary Shares (the "Tranche 2 Placing Shares") conditional on the passing of the Resolutions to be proposed at a General Meeting on or around 10 March 2020.
The Placing Price represents a discount of 58.3 per cent. to the closing middle market price of 0.24 pence per Existing Ordinary Share on 13 February 2020, being the latest practicable date prior to the announcement of the Placing. The New Ordinary Shares will represent 56.48 per cent. of the Company's Enlarged Share Capital immediately following Admission.
DYOR