RE: Grant date of Warrant - 31st of Jan or 11th of April?31 Jul 2025 16:27
There are two types of warrants and the date to be grant is unknown to us mere mortals.
"· In return for their prepayment of an aggregate of £4.4 million (excluding the CLN), each subscriber under the Equity Fundraise is entitled to receive prepaid warrants ("Prepaid Warrants") in the Company exercisable at a fixed price of 2p per warrant along with two attaching cash warrants ("Cash Warrants"), also exercisable at 2p per warrant (the Prepaid Warrants and the Cash Warrants together the "Warrants") as set out in the schedule in the Appendix below. The Cash Warrants are exercisable for a period of six months from the date of grant and, if exercised, would bring in substantial additional proceeds to the Company (see Appendix)."
From HL;
"Warrants give the holder the right to buy shares in the issuing company at a set price and at a future date. They’re not issued by individuals or the market itself.
Warrants will have a price you have to pay to convert it into an ordinary share. This is called the exercise price. And, by converting warrants into ordinary shares, the investor is exercising the warrants. Usually, one warrant equals one ordinary share, however, there are some exceptions where several warrants equal one ordinary share.
Warrants usually come with one or more exercise dates which are the dates investors can turn their warrants into shares. These are usually fixed dates in each year (for example 1 June and 1 December). In most cases, warrants have a final exercise date which is the last date the warrants can be exercised. After this date the warrants are cancelled. However, if you fail to exercise them you could still get a cash payment, but only if the warrants have a value on this date. There is a risk your warrants become worthless.
Exercising a warrant will sometimes cost more than buying the ordinary shares in the stock market. This is because the warrant’s price to convert to ordinary shares is fixed, but the market value of the ordinary shares will still move. Companies could give warrants to current shareholders in a corporate action, with an exercise price which is higher than the current market price.
Warrants can usually be traded in the market, meaning you can sell your warrants as an alternative to exercising them."
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