RE: Whether they3 Dec 2025 23:25
Maybe to do with this? And there's more to come
Fee Shares and warrants
The Company is seeking authority from Shareholders in connection with the grant of new Ordinary
Shares in settlement for certain fees incurred by the Company which are now significantly overdue for
settlement (the "Fee Shares"). The issue of the Fees Shares will dilute the 3% of the pro forma
Enlarged Issued Share Capital attributable to the Atlas Shareholders as these are Atlas historic
liabilties.
The Company is seeking authority for the issue of 1,350,000 new Ordinary Shares to Portillion Capital
Limited ("Portillion"), such shares to be issued at the lower of (a) 10 pence per share; or (b) the price
at which new Ordinary Shares are issued in connection with the Acquisition, in settlement of fees due
to Portillion. On the basis that the Company's share price is currently in excess of five times the fixed
price we are not asking Shareholders to consider aforementioned (a) as the Reverse Takeover could
not proceed if the share price were below 10 pence