RE: Axial agreement26 Mar 2019 08:13
The £20m is a nominal figure, not necessarily the amount Condor would raise. It is the authority to place 100m Ordinary shares of £0.20 each.
If they decided to place the whole amount at a discounted price of 15p, they would only raise £15m. If a major investor wanted to take the lot at a premium, say 50p, they would raise £50m.
The existing authority to allot 50m shares, made last May, expires at the next AGM.