Accelerator Clause Notice -13 Feb 2020 11:13
This is a special posting for Calamari in "Black and White", hope this helps you to understand, good grief man....:-)
Thu, 14th Nov 2019 12:35
RNS Number : 4609T
Eurasia Mining PLC
14 November 2019
The following amendment has been made to the "Exercise of Options and Warrants and Accelerator Clause Notice" announcement released on 13 November 2019 at 18:06, RNS number: 3430T.
The number of warrants exercised should have read as 1,166,668. Therefore, the total issued share capital upon Admission is 2,654,979,948 ordinary shares.
All other details remain unchanged.
The full amended text is shown below.
Eurasia Mining plc
("Eurasia" or "the Company")
Exercise of Options and Warrants and Accelerator Clause Notice (amended)
Eurasia is pleased to announce that it has received notice to exercise warrants over 1,166,668 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence (the "Warrant Shares"). The consideration for the exercise of the Warrant Shares amounts, in aggregate, to a cash value of £7,000.
In addition, the Company announces it has received notice to exercise options over 11,000,000 ordinary shares of 0.1 pence in the Company at an exercise price of 0.6 pence per share (the "Option Shares"). The consideration for the exercise of the Option Shares amounts, in aggregate, to a cash value of £64,200. These options were exercised by employees and ex-employees of the Company, not holding positions as directors of the Company, PDMRs or advisors to the board.
Accelerator Clause
Furthermore, the Company wishes to advise that the accelerator clause governing warrants associated with the May 2018 placing undertaken with clients of the Company's broker First Equity Limited (See RNS dated 10 May 2018) has now been triggered by the Company. A one-for-one warrant valid to May 2020 was subject to an accelerator clause whereby if the VWAP of the Company's share price is sustained at greater than 1.8p for ten consecutive days the Company may choose to force execution of the warrants. Tuesday 12th November was the 10th consecutive day satisfying this condition and notice was duly given to warrant holders. Warrants for which notice of execution is not given within 5 business days from the date of notice will be forfeited. The total number of outstanding warrants subject to the clause is 23,349,998, which represents a cash value of £148,600.
Christian Schaffalitzky, Chairman added: "The Directors are happy to exercise our right to remove the remaining warrant overhang that has been a concern to some of our shareholders."
Application has been made for the Warrant Shares and Option Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 19 November 2019 ("Admission"). These shares will rank pari passu with the ordinary shares of the Company in issue.
Have a good day....