Details of Placing and Open Offer
CleanTech Lithium has initiated an Open Offer following its successful Placing, issuing a circular to shareholders that outlines the specifics, including a notice for an upcoming General Meeting. The Placing, which conditionally raised GBP 8 million, involved the issuance of 36,363,638 new ordinary shares priced at 22 pence each. The Firm Placing contributed approximately GBP 3.1 million, with the remaining amount raised through the Conditional Placing, pending approval from shareholders at the General Meeting.
Share Distribution and Warrant Provisions
The Placing encompasses 14,124,466 Firm Placing Shares with associated warrants and 22,239,172 Conditional Placing Shares with additional warrants, targeting both new and existing institutional investors. These Warrants enable holders to subscribe for one new ordinary share at a rate of 33 pence, valid until December 14, 2026.
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