Excellent3 Feb 2014 10:24
They can raise funds at a massive premium:
The Subscription Shares are equivalent to approximately 43.50 per cent. of the enlarged issued share capital following Admission and, once the effect of the Consolidation is taken into account, (which gives an approximate resultant price of 22 pence per share), the subscription price represents a premium of approximately 263 per cent. to the closing middle market price of an existing ordinary share of 0.22 pence on 27 December 2013, being the latest practicable date prior to the announcement of the Subscription and the Conversion.