RE: Placing1 Feb 2021 16:57
Just a few additional shares in issue then.
Fundraising to raise a minimum of £6 million (before expenses) through the issue of a minimum of 600,000,000 new Ordinary Shares at the Issue Price.
· The Company has received, or expects to receive, instructions from Noteholders holding approximately £15.6 million of CLNs to convert their CLN holdings into New Ordinary Shares in the Company at a conversion price of 1.0 pence, subject to the conditions detailed below. This will result in the issue of 1,560,418,800 New Ordinary Shares pursuant to the CLN Conversions (assuming no further conversion notices are received) resulting in substantially all of the Company's current CLN indebtedness being extinguished.