Read.25 Jun 2020 13:10
Open Offer
Further to the announcement of its proposed open offer yesterday, the Company proposes to
raise up to £1 million by way of an open offer of up to 20,000,000 new ordinary shares (the
"Open Offer Shares") to eligible shareholders of the Company at the Offer Price (the "Open
Offer").
The Company considers it important that, where reasonably practicable, shareholders who have
not had an opportunity to take part in the Placing have an opportunity to participate in the equity
fundraise at the Offer Price. The Company is therefore providing eligible shareholders with the
opportunity to subscribe for Open Offer Shares at the Offer Price pursuant to the Open Offer, pro
rata to their holdings of existing ordinary shares. Eligible shareholders may also make
applications in excess of their pro rata initial entitlement up to an amount equal to the total
number of Open Offer Shares available under the Open Offer less an amount equal to such
eligible shareholder's Open Offer entitlement.
Further details of the Open Offer, including the terms and conditions, will be made available to
shareholders separately in the circular to be published by the Company in connection with the
Fundraise.