News out. Massive discounted placing with warrants too.
Shares priced at only £3.34 at today's exchange rates (only $5.25 including a half share warrant).
I make the fully diluted shares once all warrants and options are exercised as now around 30-31m. The placing therefore dilutes holders by nearly **50%** when fully diluted!!
A truly disastrous placing given that this could have been done months ago at higher prices.
Will calculate exact figures later, but I make it around 21m fully diluted before with around 9.3m being added when fully diluted.
Or perhaps better said, there will be nearly 50% more shares in issue when fully diluted with shareholders now having dilution (when fully diluted) of nearly 1/3rd.