Yeah14 Aug 2018 10:13
Just a formality.
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From TSI rns
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Two Shields, the AIM-quoted investing company, is pleased to announce that AIM quoted African Battery Metals plc ("ABM") has conditionally agreed to acquire TSI's 49% share capital interest in Cobalt Blue Holdings Inc ("CBH") in an all-share transaction by the issue of 15,195,826 new ordinary shares (the "Consideration Shares") which values TSI's stake in CBH at £493,864.35, based on ABM's deemed closing share price on 7 August 2018 of 3.25 pence per ordinary share (the "TSI Acquisition"). The deemed closing price takes account of the capital consolidation by ABM pursuant to which every 100 existing ordinary shares in ABM on 7 August 2018 will be consolidated into 1 new ordinary share and the revised share capital will be admitted to trading on AIM on 14 August 2018. As part of the same transaction, ABM is also conditionally acquiring the remaining 51% of CBH owned by Cobalt Blue Associates Inc ("CBA") on the same terms (the "CBA Acquisition").  The terms of the TSI Acquisition and the CBA Acquisition (together being the "Acquisition") are documented in a share purchase agreement between TSI, CBA and ABM.