Personal view on subscription issue14 Jul 2022 22:33
I don't post that often on here and I can say that some of the financials goes over my head. It was always the case as MD of my first company I started at the rather young age of 27. That's why I had an accountant as a director on my board to hold my hand on that subject. Thus leaving me to deal with the electrical engineering side of the business that I was apprentice trained for from the age of 15.
But when I read the following I feel pretty comfortable with the business considering the current events. Anyone that puts their moneys at risk gives me all the confidence I need to remain.
Yoel Aleman, David Palumbo, Jeffrey Vander Linden, Nauman Babar and Thomas Quigley, each of whom are Directors of the Company (the "Subscribing Directors"), have agreed to subscribe for an aggregate of 37,000,000 Subscription Shares at the Issue Price. The Subscribing Directors are related parties as defined in the AIM Rules. As a result, their participation in the Subscription are related party transactions pursuant to Rule 13 of the AIM Rules.
Altair Group Investment Limited ("Altair") has an existing holding of 1,634,091,107 Ordinary Shares in the Company representing 19.0 per cent. of the Company's issued share capital and, as such, is a substantial shareholder as defined in the AIM Rules. Altair has agreed to subscribe for 80,000,000 Subscription Shares at the Issue Price. As a result, their participation in the Subscription is a related party transaction pursuant to Rule 13 of the AIM Rules.
MJA