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Diluting our shareholdings and there seems no end to them, or is there?
Effectively we have these extra shares coming into play on the 19th and 22nd to my knowledge. Help me out here please.
GLA
Read the last Rns :-)
The end is fast approaching jimyjamy -
Accelerator Clause
Furthermore, the Company wishes to advise that the accelerator clause governing warrants associated with the May 2018 placing undertaken with clients of the Company's broker First Equity Limited (See RNS dated 10 May 2018) has now been triggered by the Company. A one-for-one warrant valid to May 2020 was subject to an accelerator clause whereby if the VWAP of the Company's share price is sustained at greater than 1.8p for ten consecutive days the Company may choose to force execution of the warrants. Tuesday 12th November was the 10th consecutive day satisfying this condition and notice was duly given to warrant holders. Warrants for which notice of execution is not given within 5 business days from the date of notice will be forfeited. The total number of outstanding warrants subject to the clause is 23,349,998, which represents a cash value of £148,600.
GLA
I must stop posting because I did read that, oops. Thanks
Apologies if this is obvious but how many warrants are now left in total?
Apart from nearly 12m of mine I think there are very few warrants left to convert
Maybe mine plus about 2-3m remaining
Get on with it then bigmj!
You holding your shares after?
hey bigmj
tally ho !
Yes will be holding the shares in anticipation of a deal
Will of course be converting early next week, if I don’t I will lose them!!!
over the weekend please read the rules of AIM it is only going to give you guys the ammunition and understanding should a disposal of the Assets take place.
Disclosure of corporate transactions:
FUNDAMENTAL CHANGES OF BUSINESS
Any disposal by an AIM company which, when aggregated with any other disposal(s) over the previous twelve months, exceeds 75% in any of the class tests, is deemed to be a disposal resulting in a fundamental change of business and must be:
conditional on the consent of its shareholders being given in general meeting;
notified without delay disclosing the information specified by Schedule Four and insofar as it is with a related party, the additional information required by rule 13; and
accompanied by the publication of a circular containing details of the disposal and any proposed change in business together with the information specified above and convening the general meeting.
Divestment or Cessation
Where the effect of a disposal is to divest the AIM company of all, or substantially all, of its trading business, activities or assets; and/or
Where an AIM company takes any other action, the effect of which is that it will cease to own, control or conduct all, or substantially all, of its existing trading business, activities or assets (in which case such action should be notified without delay and include all relevant information that shareholders may require)
Upon completion of the disposal or action, the AIM company will be regarded as an AIM Rule 15 cash shell.
Within six months of becoming an AIM Rule 15 cash shell, the AIM company must make an acquisition or acquisitions which constitutes a reverse takeover under rule 14. For the purposes of this rule only, becoming an investing company pursuant to rule 8 (including the associated raising of funds as specified in rule 8) will be treated as a reverse takeover and the provisions of rule 14 will apply including the requirement to publish an admission document.
Where an AIM company became an investing company (pursuant to rule 15) prior to 1 January 2016, the requirements of rule 15 set out in the AIM Rules for Companies (May 2014) will continue to apply. Accordingly, if such a company does not make an acquisition or acquisitions which constitutes a reverse takeover under rule 14 or otherwise fails to implement its investing policy to the satisfaction of the Exchange within twelve months of becoming an investing company in accordance with that rule, the Exchange will suspend trading in the AIM securities pursuant to rule 40.
https://aim-watch.com/articles/aim-rules/