RE: Donβt Understand Drop?26 Aug 2025 19:53
Again, as far as I understand it:
Re: Loan notes
'The Notes are convertible at a price per ordinary share in the capital of the Company which is calculated by reference to either (a) the volume weighted average share price of the Company for the 30 day period βimmediately preceding the date of any conversion notice being received by the Companyβ; or (b) the overall market capitalisation of the Company being Β£500,000, in each case at the election of NE10. '
So based on av. share price.
And yes the subscription by that Hogan chap is at very low price, but currently worth only 100k or so at current price, so I can imagine they are incentivized to get the share price up much higher than current 3p ?! GLA genuine holders here.