Translating Financial Garb?
Posted: December 18th, 2016, 6:03 pm
Evening,
I wondered if anyone could help translate for me! I have a (very) modest number of shares in a company called Mercom Capital PLC. The company have decided to 'Exercise of Warrants' and have posted the following....
The Company announces that it has issued and allotted a total of 1,500,000 ordinary shares ("New Ordinary Shares") pursuant to the exercise of warrants granted to investors at the time of the placing by the Company in July 2016. The warrants were exercised at a price of 5p per share. The New Ordinary Shares will rank pari passu with the Company's existing ordinary shares. In total, 6,050,000 warrants were granted at the time of the placing.
Of the New Ordinary Shares, 1,450,000 ordinary shares were admitted to trading on AIM as part of the block admission announced on 20 July 2016. Application will therefore be made for 50,000 of the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to be effective on 16 December 2016.
Following the allotment and issue of the New Ordinary Shares, the Company's issued share capital consists of 34,826,773 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. Therefore the total number of voting rights is 34,826,773. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
I have received a letter that states 'For every 4 MERCOM Ordinary shares held - Receive 1 new MERCOM Ordinary Share. Please note warrants will be exercisable at 0.80gdp per share, expiring 180 days after issue.
Could anyone shed light on what this actually means? It feels like I should do something with this information, but I have no idea what! I only have about 2000 shares so it's pretty small in the grand scheme of things!
Any advice gratefully received,
Regards
Tango
I wondered if anyone could help translate for me! I have a (very) modest number of shares in a company called Mercom Capital PLC. The company have decided to 'Exercise of Warrants' and have posted the following....
The Company announces that it has issued and allotted a total of 1,500,000 ordinary shares ("New Ordinary Shares") pursuant to the exercise of warrants granted to investors at the time of the placing by the Company in July 2016. The warrants were exercised at a price of 5p per share. The New Ordinary Shares will rank pari passu with the Company's existing ordinary shares. In total, 6,050,000 warrants were granted at the time of the placing.
Of the New Ordinary Shares, 1,450,000 ordinary shares were admitted to trading on AIM as part of the block admission announced on 20 July 2016. Application will therefore be made for 50,000 of the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to be effective on 16 December 2016.
Following the allotment and issue of the New Ordinary Shares, the Company's issued share capital consists of 34,826,773 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. Therefore the total number of voting rights is 34,826,773. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
I have received a letter that states 'For every 4 MERCOM Ordinary shares held - Receive 1 new MERCOM Ordinary Share. Please note warrants will be exercisable at 0.80gdp per share, expiring 180 days after issue.
Could anyone shed light on what this actually means? It feels like I should do something with this information, but I have no idea what! I only have about 2000 shares so it's pretty small in the grand scheme of things!
Any advice gratefully received,
Regards
Tango