RE: More Lanstead death spiral funding I see13 Feb 2025 07:55
This is interesting, I think this is a bit of a hint, I think a blue day ahead,
The Lanstead Subscription proceeds of Β£1.875 million will immediately following Admission be pledged to Lanstead under the Sharing Agreement under which Lanstead will then make, subject to the terms and conditions of the Sharing Agreement, monthly settlements (subject to adjustment upwards or downwards) to the Company over a period of seven months, commencing in May 2025, as detailed below. As a result of entering into the Sharing Agreement, the aggregate amount received by the Company under the Lanstead Subscription and the Sharing Agreement may be more or less than Β£1.875 million, as further explained below. Notwithstanding the Subscription Price of 3.75 pence, shareholders should note that the share price of the Company needs to be on average over the seven months of the Sharing Agreement at or above the Benchmark Price of 5.0 pence per share for the Company to receive at least, or more than, the gross Subscription of Β£1.875 million.