RE: Warrants !10 Jan 2021 22:30
Re warrants and being cancelled from my understanding they could be cancelled as per the rns re the placing in december -
The obligations of Peterhouse and SP Angel under the Placing Agreement are conditional, inter alia, upon admission of the Placing Shares having occurred by 8.00 a.m. on 23 December 2020 (or such later time and/or date as may be agreed, being no later than 8.00 a.m. on 13 January 2021), and there being no material breach of the warranties given to them prior to admission of the Placing Shares.
Peterhouse or SP Angel may terminate the Placing Agreement in specified circumstances (including for breach of warranty at any time prior to admission of the Placing Shares, if such breach is reasonably considered by Peterhouse or SP Angel to be material in the context of the Placing) and in the event of a force majeure event occurring at any time prior to admission of the Placing Shares.
Warrants
The Company will issue participants in the Placing, one warrant for every Placing Share (the "Warrants"). As a result, 400,000,000 Warrants will be issued to placees pursuant to the Placing and subject to approval of the necessary authorities at the Company General Meeting ("GM") which will be scheduled for January 2021 (details of which are to be announced).
From this on the rns - is my understanding right that they could be cancelled / can be due to circumstances? As I think they can be