Warrants17 Feb 2020 21:42
In addition, Ironveld has issued 26.0 million share warrants with a subscription price of 1p per share to its lenders, pro rata to the amount of each loan. These warrants have a two-year life and lender can use outstanding loan balances to exercise the warrants.
Iornveld Chair Giles Clarke contributed GBP10,000 to the loan facilities and was issued 1.0 million share warrants. The firm's largest shareholder, Tracarta Ltd, contributed GBP50,000 and received 5.0 million warrants. Tracarta holds a 12% stake in Ironveld.as usual looking after his own cronies lots warrants at a penny