RE: Shares in issue RNS28 Feb 2019 08:05
Around 6 months left to exercise the warrants - 12 months runs out around August 2019. With so few exercised to date looks like we are going to need an SP north of 2.5p and spectacular drilling results in the coming months. Fingers crossed.
"Each Placing Share issued has an accompanying unlisted and non-transferrable warrant to subscribe for an additional Greatland new ordinary share at a price of 2.0p at any time within the 12 months following admission to trading of the Placing Shares (representing the issue of a total of 212,000,000 warrants). Each warrant will include an accelerated exercise condition ("Accelerator") such that in the event the that the Company's volume weighted average share price exceeds 3.0p for a period of five consecutive trading days the Company shall have the right, but not the obligation, to give holders of the warrants 7 calendar days' notice that the warrants must be exercised within a further 14 calendar days, following which they will otherwise expire. Should all of these warrants be exercised, a further £4,240,000 will be raised for the Company at a price of 2.0p".