RE: rns18 Jun 2020 22:38
@ Nthoftheriver.
The conversion price is set in stone, so you can't convert at higher prices. You can of course sell, once converted.
Warrants issued:
27/02/2019 - 72,297,728 @ 2.2p
16/09/2019 - 27,777,778 @ 3p
30/04/2020 - 24,444,444 @ 3.25p
Total issued = 124,519,950
Warrants exercised:
27/12/2019 - 453749 @ 2.2p
17/01/2020 - 2,722,496 @ 2.2p
11/05/2020 - 1,610,814 @ 2.2p
18/05/2020 - 453,749 @ 2.2p
26/05/2020 - 1,136,127 @ 2.2p
29/02/2020 - 2,656,184 @ 2.2p
08/06/2020 - 9,265,960 @ 2.2p
Total exercised = 18,299,079 @ 2.2p.
The 2.2p warrants have a 3 year shelf life from 27.02.19. Why would they pay to exercise them now, if they have no intention of selling them on for profit?
More interestingly though is that the outstanding warrants now stand at 106,220,871. If you minus the HNWI's 24,444,444 @ 3.25p (apparently it's a good thing to have these on board) that leaves 81,776,427. Add another 680,000 (£20,000 outstanding CLN's- I made an error in a previous post) and that gives you a figure of 82,456,427. Very close to the block listing RNS'd today.
The 2.2p warrant holders are taking their profit at the moment. Whether they continue or not remains to be seen.
I do find it odd that ACP is now fully diluted, without the HNWI's warrants.
Could this be part of the funding package which would see ACP give away a %age of the company, and future profits, in return for building the mine?
The future is looking very bright. All IMO, of course.