RE: Warrants4 Jul 2025 06:00
From May 1st 2025 RNS
Warrants
Investors in the Fundraise will be issued with one Warrant for each Fundraise Share subscribed for resulting in the issue of 3,636,363,633 Warrants. The Warrants will be exercisable at the Issue Price of 0.022p for a period of 12 months from Admission. The Warrants are not transferable and will not be traded on an exchange. The Warrants contain an accelerator clause such that the Company may serve notice ("Notice") on the Warrant holders to exercise their Warrants in the event that the closing mid-market share price of the Company's Ordinary Shares trade at 0.045p or more over a consecutive five-day trading period from date of Admission. In the event the Company serves Notice, any Warrants remaining unexercised after seven calendar days following the issue of the Notice will be cancelled. Exercise of the Warrants in full (excluding the Broker Warrants) would raise an additional £800,000 for the Company.
Broker Warrants
CMC and Peterhouse have been issued a further 73,522,727 warrants and 89,886,359 warrants respectively (the "Broker Warrants"). The Broker Warrants are on the same terms as the Warrants issued to the participants of the Fundraise, including the acceleration clause set out above.
Admission was May 7th and TO EMHASISE ......
Warrants will be exercisable at the Issue Price of 0.022p for a period of 12 months from Admission unless at 0.045p and the SP following certain criteria then the company can cancel unexercised warrants.
Hope that is clear enough for people.