RE: 5th day5 Jan 2021 14:27
Hi Walkabout
When the share price closes the day above 16p (or at 16p that is being debated) for 5 days out of any consecutive 10 trading days, the company is able to call upon previously issued warrants to be exercised. If all those warrants were to be exercised, the company would receive £1.05 Million in cash.
Wishbone already has a sizeable war chest, and this would then likely mean no more fund raising this year in my opinion.
So, having even more cash is brilliant, clearing out the warrants (every PI likes them out of the way) is excellent, and the likelihood that there would be no need to fundraise this year would be massive for the share price move upwards.
Of course the company may decide not to call upon the warrants to be exercised straight away....but will maintain the option to do so.
Hope that helps. I believe that we will be hitting that 5 day target this week if it hasn't already been hit in the last day, whether you believe it is 16p plus, or needs to be above 16p.....
IMO Wishbone is one of the hot AIM Gold stocks of 2021.