L.O, Shares, Overhang17 Jan 2021 14:02
As of the last RNS L.O had 217,713,481 under the original agreement (they have been selling since so this has reduced)
On Friday 15th 196,875,000 ordinary shares issued under the Put and the Adviser Fee Shares
9,375,000 of those issued on Friday do not have the 15% guarantee attached.
The other 187,500,000 (put) would have the 15% attached, with the caveat we do not know as yet whether the call has been made, and L.O have the option of doubling that number to 375,000,000
So known overhang minus any sold sing the last RNS @ 217,713,481 + 9,375,000 = 227,088,481
So 227,088,481 is the current maximum overhang.
If the put is called that would add 187,500,000 and if doubled 375,000,000
So the potential for the 227,088,481 to grow to 602,088,481 (need to wait on a TR1 RNS to know if the put was called and doubled.
The 227,088,481 should not take much more than 2 or 3 days (at Fridays volume)
As we get closer to results and the volume increases even if the 375,000,000 are called 1 brisk week of trading volume should clear that. So by the end of the month all or any potential overhang should be cleared.
I have not included any warrants.