RE: Another Fundraise announced and new chairman coming16 May 2023 15:06
As announced on 21 February 2022, as part-consideration for the acquisition of The GP Service Limited, Kanabo was due to issue 12,574,931 new Ordinary Shares to MEIF WM Debt LP ("MEIF") on or around 22 August 2023, at an issue price of 12.65p per share.
-- Following the successful completion of the GBP2.74 million fundraise by the Company earlier this month, and with the consent of MEIF, the Company believes that it was beneficial for all stakeholders that the issuance date of these consideration shares should be extended to 31 December 2024.
-- All other terms of the original February 2022 agreement, aside from this extension date, remain the same, including t he number of shares to be issued, 12,574,931 and the issue price of 12.65p.