AGM RNS5 May 2021 15:48
Certainly positive taking that many in placing .. will keep adding where I can while it’s quiet and especially below placing.
“ The Company is pleased to report that as a result of its close period ending, Chairman, David Hathorn, has confirmed his participation in the proposed fundraise, for a total of 23,056,653 New Ordinary Shares for a total value of approximately US$350,000.
Princess Aurora Company Pte Ltd ("OIA") has now also signed a subscription agreement confirming their purchase of 92,226,613 new ordinary shares ("OIA Shares") at 1.1p for a total cash consideration of US$1.4 million. Application will be made for the OIA Shares to be admitted to trading on 11 May 2021.
As a substantial shareholder, OIA's investment is deemed to be a related party transaction for the purposes of AIM Rule 13. The directors of the Company, other than Sameer Oundhakar, having consulted with the Company's nominated adviser, Canaccord Genuity, consider that the terms of OIA's investment are fair and reasonable insofar as Shareholders are concerned. These shares will, for ASX purposes, be issued under ASX listing rule 10.11, having received the relevant shareholder approvals at today's GM.”