40m warrants extended but the 53m warrants expired24 Sep 2024 06:39
Just throwing thoughts out there for discussion.
May 2021 A singular entity invests £15m for 53m shares at 26.5p
Sept 2021 An Investment entity invests £11m for 43m shares at 26.0p
Both entities are awarded warrants for same share quantity and same price.
Shortly afterwards the share price rises to 42p and the board release an RNS to halt the rise.
1. Seems both investment entities missed out on a fat profit, as exercising those warrants before the the price check would have resulted in EUA bank being bloated beyond reason, which, on reflection, the BoD didnt want and, had to do.
Fast forward to recent events, and the first 53m warrants have expired, yet the 43m warrants are extended, and the only slight difference in both Finance raises from May and Sept 21 are the description of the entities. (And the quantities involved but lets not nitpick).
Why 1 set of warrants and not both.. ?
Incidentally BOTH raises were initiated to support a Rosgeo JV, that is no longer happening..
The lack of information forthcoming from EUA BoD leaves gaping holes in where 1 could reasonably foretell whats coming, but its been guesswork for months.
Extend both sets of warrants till xmas, xpect Santa to deliver bumper hamper.
Only 1 set and.. more questions than answers. So it keeps people guessing.
For sure though, with a share price of 2p and not 26.5p the 1st "Entity" is unbothered by the expiration of his warrants.
With the 2nd set extended, Are the EUA BoD offering the 2nd "Entity" (Institutional Investor) another bite of the apple IF a sale is announced.
Or the EUA BoD are just stirring up already muddy waters.