RE: Dr Gareth increased holding to 18.90%9 Nov 2020 11:10
Following consultation by the Company, the Panel has confirmed that Mr Trevor Brown, Dr. G Cave and Braveheart Investment Group plc, constitute a 'concert party' under the Takeover Code. Details of the individual Shareholders who qualify as the Concert Party and further information on the members of the Concert Party are set out in paragraph 4 of this Part II. As at the date of this Circular, Braveheart holds an interest in 199,637,590 Ordinary Shares representing 25.79 per cent. of the Existing Ordinary Shares and voting rights of the Company. As at the date of this Circular, Dr. Cave does not hold an interest in the Existing Ordinary Shares and voting rights of the Company. As at the date of this Circular, Mr. Trevor Brown does not hold a direct interest in the Existing Ordinary Shares and voting rights of the Company. Therefore, the Concert Party’s total holding of the Existing Ordinary Shares and voting rights of the Company is 199,637,590 Ordinary Shares representing 25.79 per cent. of the Company. On Completion of the Acquisition, and prior to the Braveheart Warrants having been exercised, Braveheart will hold 509,992,405 Ordinary Shares, which will represent 37.12 per cent. of the Enlarged Issued Share Capital and total voting rights of the Company. Dr. Cave will hold 289,645,185 Ordinary Shares, which will represent 21.08 per cent. of the Enlarged Issued Share Capital and total voting rights of the Company. Therefore in total the Concert Party will hold 799,637,590 Ordinary Shares, which will represent 58.20 per cent. of the Enlarged Issued Share Capital and total voting rights of the Company. Following Completion of the Acquisition and assuming only Braveheart exercises its 10 million warrants in full, which are exercisable immediately, Braveheart will hold 519,992,405 Ordinary Shares, which will represent 37.57 per cent. of the Potential Enlarged Issued Share Capital and total voting rights of the Company. Dr. Cave will hold 289,645,185 Ordinary Shares, which will represent 20.93 per cent. of the Potential Enlarged Issued Share Capital and total voting rights of the Company. Mr. Trevor Brown does not hold a direct interest in the Existing Ordinary Shares and voting rights of the Company.