Business
Capitalisation of Loan, Issue of Equity & Warrants
Capitalisation of Loan, Issue of Equity & Warrants.
About this update from Capai Plc
[{"type":"text","content":"\n\n4 March 2024\nDukemount Capital Plc\n(\"Dukemount\" or the \"Company\")\nCapitalisation of Outstanding Loan, Issue of Equity and Warrants\nThe board of directors, Dukemount Capital Plc, is pleased to announce the capitalisation of the £900,000 (\"Outstanding Balance\"), due under the Facility Agreement dated 14 September 2021 (the \"Facility Agreement\") by way of an equity subscription at £0.001 per share (the \"Subscription\") into 900,000,000 new ordinary shares (\"Subscription Shares\") by Paul Gazzard, a director of Dukemount.\nBackground\nThe Outstanding Balance has been transferred and assigned to Paul Gazzard, a director of Dukemount. In consideration, the lenders of the Facility Agreement (the \"Noteholders\") will be paid £150,000 in cash and 225,000,000 new ordinary shares in Dukemount payable on completion of the Subscription.\nFollowing admission to trading of the Subscription Shares, Mr Gazzard has agreed to sell the Subscription Shares at £0.001 to new investors for £150,000 (\"New Investors\"). These New Investors have agreed to transfer 225,000,000 of the total Subscription Shares to the Noteholders. The balance of 675,000,000 ordinary shares will be issued to the New Investors.\nAs the new investors were introduced by Peterhouse Capital Limited (\"Peterhouse\") and in light of the work undertaken by Peterhouse to date, the Company has agreed to provide Peterhouse with warrants over 3% of the Company's issued share capital from time to time, exercisable over 3 years at £0.001 (the \"Warrants\").\nCompletion of the Subscription is conditional on, inter alia :- the Subscription Shares being admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities on or around 5 March 2024.\nApplications have be made to the FCA and the London Stock Exchange for admission in respect of the Subscription Shares. It is expected that Admission will become effective, and that dealings in the Subscription Shares are expected to commence, at 8.00 a.m. on 5 March 2024.\nThe rights attaching to the Subscription Shares will be uniform in all respects and all of the new Subscription Shares will rank pari passu and form a single class for all purposes with the existing issued shares of £0.001 par value in the Company.\nTotal Voting Rig...