The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
29 March 2018
Directors Dealings and Issue of Equity
Given that the Company's trading business is yet to generate profits, the directors recognise that conservative cash management continues to be of paramount importance. Accordingly, in the context of these cash constraints and pursuant to the authority given to the directors by shareholders at the general meetings held on
together the "Incentive Shares".
50% of the Incentive Shares will be issued immediately (the "Initial Incentive Shares") and the remaining 50% of the Incentive Shares will "vest" and be issued once the Company's share price exceeds 0.2p for a period of 30 days (the "Subsequent Incentive Shares"). Further announcements will be made when the Company's obligation to issue the Subsequent Incentive Shares arises.
The following awards of share options have been made to directors of the Company. All of these options "vest" and become exercisable after a holding period of one year from the date of this announcement:
In addition, the Company has agreed to immediately issue a further 85,801,087 new ordinary shares in settlement of outstanding fees payable to advisers to the Company, in an aggregate amount of £63,510 (the "Advisers'
Total Voting rights
The Initial Incentive Shares, the Director's
Following the issue of the New Shares, in accordance with the
The above figure of 4,146,434,579 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
The Directors of the Company accept responsibility for the content of this announcement.
For further information, please contact:
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