RE: 1,744,000,000 new shares24 May 2019 19:36
Additionally, as outlined in the general meeting circular of the Company published on 13 March 2019, Peterhouse Capital Limited has been issued with warrants to subscribe for new Ordinary Shares equal to 3 per cent. of the Enlarged Share Capital of the Company from time to time, exercisable at £0.0001 for up to 3 years from the date of issue ("Warrants"). The issue of the Warrants was conditional on the closing of the Company's operating business, the Company becoming an AIM Rule 15 cash shell and a change in the Company's name, proposals which were approved by shareholders on 3 April 2019 and are issued in consideration of fees owed relating to advisory and fund-raising services rendered to the Company during the last quarter of 2018 and the first quarter of 2019 and which have been largely not paid for in an effort to conserve the cash available to the Company.