4 Nov 2015 18:28
Plethora Solutions Holdings PLC
("Plethora" or the "Company")
4 November 2015
RULE 2.10 UPDATE
In accordance with 2.10 of the City Code on Takeovers and Mergers (the "Code), the Company confirms that as at the date of this announcement, it has 823,297,686 ordinary shares of £0.01 each in issue with ISIN GB00B06GL868. Plethora's ordinary shares are listed on the Alternative Investment Market of the London Stock Exchange ("AIM").
In addition, Plethora has a number of warrants, convertible loans and options/share awards outstanding (none of which have an associated ISIN number). Details of these securities are included below.
Mellon Bridge Loans: a convertible loan note due to be repaid on 31 March 2010. Upon redemption, the loan may be converted to 17,000,000 ordinary shares of 1p at an exercise price of 2p per share.
Galloway loan warrant instrument: a warrant granted to Galloway Limited to subscribe for ordinary shares of 1p representing up to 5% of the fully diluted ordinary share capital (post exercise) at a price of 1.25p per share. The warrant is due to expire on 31 March 2023 and can be exercised at any point up to this date at the discretion of Galloway. Based on the current fully diluted ordinary share capital, the warrant allows Galloway to subscribe for up to 54,118,431 shares.
CfE loan warrant instrument: a warrant granted to the Capital for Enterprise fund to subscribe for ordinary shares of 1p representing up to 3% of the fully diluted ordinary share capital (post exercise) at a price of 1p per share. The warrant is due to expire on 31 March 2023 and can be exercised at any point up to this date at the discretion of Capital for Enterprise. Based on the current fully diluted ordinary share capital, the warrant allows Capital for Enterprise to subscribe for up to 32,471,058 shares.
Fundraising Warrants: warrants attached to the capital fundraising undertaken in September 2014. Up to 101,148,981 ordinary shares of 1p may be subscribed at an exercise price of 15p.
LTIPs: share awards under the Company's Long Term Incentive Plan. A total of 54,200,000 ordinary shares of 1p each will be awarded at no subscription cost to employees based on various commercial milestones. Additionally the LTIPs will automatically vest on a change of control of Plethora.
Executive Share Option Scheme (ESOP): available to all employees and directors of the Company. A total of 132,460 ordinary shares of 1p each may be issued in relation to the scheme at a subscription price of 59p per share.
Romero Tayong
Company Secretary