RE: RNS -update13 Apr 2023 17:55
Extract from the last fund raising RNS ….
There remain outstanding 25,640,254 Options in the Company, held equally by L1 and Lind, which may be exercised at any time up to 10 June 2023, with an exercise price of 11 pence.
However, as the price at which shares are to be issued in the current fundraising is less than 11 pence, (the exercise price of the Options) the number of Options and the exercise price of Options held by L1 and Lind fall to be varied. The effect of the current fundraising is to amend the exercise price from 11 pence to 5 pence and to increase the number of Options held by L1 and Lind from 25,640,254 to 56,408,558.
** the landstead warrants have a 10 year expiry timescale **