RE: Email12 Jan 2023 17:19
Yeah that is the strange thing, if you needed cash quickly to keep going then you would have thought a £1m at the least. But, correct me if im wrong, the Lanstead finance deal was supposed to last 24 months:
The £2,942,500 gross proceeds of the Lanstead Subscription will be pledged to Lanstead by the Company pursuant to a Sharing Agreement with Lanstead. The Sharing Agreement, details of which are set out below, entitles the Company to receive back those proceeds on a pro rata monthly basis over a period of 24 months, subject to adjustment upwards or downwards each month depending on the Company's share price at the time relative to the Benchmark Price of 0.7333 pence per share. The monthly settlement amounts for the Sharing Agreement are structured to commence approximately one month (or earlier by agreement with Lanstead) following Admission
A significant factor in nanosynth's decision to enter into the Subscription is that the Sharing Agreement provides the opportunity for the Company to benefit from positive future share price performance. There is no upper limit placed on the additional proceeds which could be received by the Company as part of the monthly settlements and the amount available in subsequent months is not affected. Whilst the Company notes the corresponding risk that a fall in nanosynth's share price could reduce the amount of proceeds received, as explained below, the Directors expect the Company's strategy to make considerable positive advancements over the 24-month term of the Sharing Agreement. If these advancements are successful, and if the success of these advancements is reflected in nanosynth's share price, the Company expects the proceeds to be received from Lanstead to exceed the amount pledged under the Sharing Agreement.
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