RE: Broker update - upgraded - 20p17 Jan 2021 17:34
hello albert.you are quite correct. ive checked back and the RNS of 21/6/19 says "in addition the company has entered into an option agreement with JG to subscribe for the equivalent of $10m of new ordinary shares at a price to be determined at the time of exercise, which would value the company's issued equity share capital at approximately £220m" the RNS of 6/1/20 states "JG Bahamas has partially exercised its option to subscribe for 4,997,041 new ordinary shares at 15.3p, whch values the comany's issued share capital at approximately £220m". so its not clear what the precise terms are, but on the basis that the last exercise was at 15.3p i would assume that future exercises would have to be in the same region, but perhaps not.. we do not know in what way, if any, the position has been altered by the napster RTO.no doubt time will tell