Minimum issue price 1p16 Nov 2018 18:22
The issue of the CLNs is conditional on the Company completing a Reverse Takeover and on the Admission of the enlarged ordinary share capital to trading on a Recognised Investment Exchange. When issued, the CLNs will have a conversion price of 25% discount to the price on Re-admission.
As the nominal price is 1p - would expect the readmission price to be 1.35p minimum to allow for the 25% CLN discount.