RE: Rns out7 Mar 2022 15:03
This subscription is for over 5 bucks price paid
The warrants are only exercisable which they get as well when the market cap trades for 3 days over 250 million
For each new Ordinary Share purchased under the Subscription, the investor
will receive two warrants to subscribe for new Ordinary Shares at an exercise
price of 50 pence per Ordinary Share for a period of five years, conditional
on either the market capitalisation of the Company exceeding US$250m for a
period of three consecutive trading days or a future funding round being
concluded with a post-money valuation of US$250m or greater (the "Warrants").
The Subscription is made by a private equity professional based in New York
City. This investment is part of a larger investment related to his family's
Family Office which is anticipated to subscribe to a further US$2.025m on the
same terms, for which the documentation is currently in process (the
"Additional Subscriptions").