Every two Placing Shares have one warrant attached, resulting in the issue of 187,500,000 warrants, with each warrant having the right to acquire one new Ordinary Share at an exercise price of 0.8 pence for a period of two years from the date of the admission of the Placing Shares (the "Warrants"). If the Warrants are exercised in full, this would result in the issue of 187,500,000 new Ordinary Shares, which would represent approximately 28.8% of the Company's issued share capital as enlarged by the Placing.
Boohoo had earlier in June said sales would rise by at least 25 per cent this year, a stark contrast to the sharp falls expected at many of its high street rivals. The company recently announced plans to pay bonuses of up to £150m to its two co-founders and other executives, based only on its share price performance.
If they can show matters are in hand with some more action on the supplier front the sell-off looks overdone given some of the impressive features of the business model... This is article from FT... COULD BE ENTRY POINT