CloudTag has clarified the warrant pricing detailed in notifications dated 14 November, 23 November and 9 December.
The warrant exercise price is the lower of:
a) 90% of the closing bid price on the trading day immediately preceding the date on which the subscription form is delivered to the Company
b) 125% of the closing bid price on the trading day immediately preceding the conversion notice date (as defined in the convertible securities deed) immediately preceding the date of issue of the relevant warrant.
In each case the warrant exercise price will be rounded down to the nearest £0.005 in accordance with the terms of the relevant agreements. This rounding down condition was not included in the company’s notification dated 7 November 2016. The company’s notifications dated 14 November, 23 November and 9 December did not apply the rounding down to the price in (b).
At 3:43pm: (LON:CTAG) Cloudtag Inc share price was -0.25p at 7.38p
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