Warrants4 Dec 2019 19:58
Hope this will help Everyone with the warrants questions.
RNS Number : 3409N
Rockfire Resources PLC
23 September 2019
Should the Company's volume weighted average share price equal or exceed 2 pence per Ordinary Share for five consecutive business days, the Company is obliged to write to each Placing Warrant holder providing notice of exercise of the Placing Warrants after which the Placing Warrant holder will have up to 14 days notice to pay for the exercise of their Placing Warrants ("Accelerator Clause").
RNS Number : 2446O
Rockfire Resources PLC
28 January 2019
The Placing incorporates the issue of warrants to subscribe for 58,823,530 new Ordinary Shares at an exercise price of 1.5 pence per warrant (a 76% premium to the Placing Price) on the basis of 1 Placing Warrant per Placing Share, with an exercise period of 15 months from the date of the General Meeting. Each Placing Warrant is subject to an accelerated exercise condition ("Accelerator") such that should the Company's share price exceed a 10-day volume weighted average price of 4.5p during the warrant term, the Company has the right, but not the obligation, to serve notice on the Placing Warrant holders to exercise their Placing Warrants, with 14 calendar days exercise and a further 14 days to make payment. Should the Company serve notice, any Placing Warrants unexercised within the 14 day time period allowed would be cancelled.