RTO22 Dec 2022 12:22
The Company has executed an updated term sheet with improved terms that is subject to the execution of a definitive agreement. The terms set out in the term sheet will provide current shareholders with 30% of the enlarged Company. Based on the current number of outstanding shares and the new FCA requirement of a minimum market capitalisation of £30 million for new listings that came into force on 3 December 2021, if successful, this provides a "see through" valuation of approximately 2p per share.