The 35p placing, when is it?31 Mar 2020 09:39
I'm considering money some money here but not sure when these 35p heavily discounted £14 million worth will hit the market... some deal that for the guys getting them...
The Placing comprises a proposed placing of, in aggregate, up to 39,785,715 new Ordinary Shares. The Placing will take place in two tranches, with the first tranche of up to 10,943,295 new Ordinary Shares (the "Firm Placing Shares") utilising the Company's existing shareholder authorities to issue new shares on a non-pre-emptive basis for cash (the "Firm Placing") and the second tranche of up to 28,842,420 new Ordinary Shares (the "Conditional Placing Shares" and together with the Firm Placing Shares, the "Placing Shares") to be issued subject to new shareholder approvals to be sought at a general meeting of the Company (the "General Meeting") (the "Conditional Placing").
Certain directors of the Company intend to subscribe for, in aggregate, 214,285 new Ordinary Shares (the "Subscription Shares" and, together with the Placing Shares, the "New Ordinary Shares") pursuant to the Subscription.
The Company intends to publish and send a circular (the "Circular") to shareholders convening the General Meeting in connection with the issue of the Conditional Placing Shares on or around 27 March 2020. The Circular will also be available on the Company's website: www.synairgen.com.