Business
Result of Broker Option
Result of Broker Option.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n\n10 May 2023\n \nkANABO GROUP PLC\n(\"Kanabo\" or the \"Company\")\n \nResult of Broker Option\n \nFurther to the Company's announcement on 9 May 2023 (the \"Fundraise Announcement\"), Kanabo announces that the Broker Option has now closed. The Broker Option has been fully taken up, raising £200,000 at the issue price of 2.88 pence per share through the issue of 6,944,446 new Ordinary Shares (\"Broker Option Shares\").\n \nEach Broker Option Share issued has half a warrant (the \"Warrants\") attached, granting the holder the right to subscribe for an additional half a new ordinary share at an exercise price of 5.76 pence for a period of 24 months following Admission. The Warrants cannot be exercised in the first 90 days of admission of the initial fundraising shares (as referenced in the announcement on 9 May 2023) and are subject to a prospectus being published and the receival of approval at a General Meeting of the Company.\n \nInvestors in the Broker Option Shares will be issued with a total of 3,472,223 Warrants.\n \nThe total amount raised by the Company under the Fundraise Announcement and the Broker Option Shares is £2.74 million (before expenses).\n \n \nAdmission to trading\n \nApplication has been made to the London Stock Exchange for the Broker Option Shares to be admitted to trading on the Standard List of the London Stock Exchange (\"Second Admission\"). Second Admission is expected to occur at 8.00 a.m. on or around 15 May 2023. The Broker Options Shares will rank pari passu with the Company's existing Ordinary Shares.\n \nTotal voting rights\n \nFollowing Second Admission, the Company's enlarged issued share capital will be 499,304,946 Ordinary Shares. This figure of 499,304,946 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.\n \nDefined terms in this announcement shall have the same meaning as set out in the Fundraise Announcement, unless otherwise specified herein.\n \nFor further information, please contact:\n \n\n\n\nKanabo Group Plc\n\n\nvia Vigo Con...