Cannacord6 Aug 2021 21:32
Canaccord Genuity Group Inc, a substantial shareholder of the Company, has agreed to acquire up to 20,647,483 New Shares at the Issue Price in the Placing. Following this participation, Canaccord Genuity Group Inc will have a beneficial interest in 75,347,483 Ordinary Shares in the Company, representing approximately 14.82 per cent. of the enlarged issued share capital of the Company on Admission.
The participation of Canaccord Genuity Group Inc for up to 20,647,483 New Shares in the Placing is deemed to be a related party transaction under the AIM Rules for Companies. The directors of the Company consider, having consulted with the Company's nominated adviser, Allenby Capital Limited, that the terms of Canaccord Genuity Group Inc's purchase of New Shares in the Placing are fair and reasonable insofar as the Shareholders are concerned.
Now holding 70+ million shares….are they creating a position for somebody or just confident ?