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Pires Investments plc announced on 04 July 2022 that it received a conditional warrant notice for 13,000,000 ordinary shares at an exercise price of 4 pence per share, conditional on "the Scheme" becoming effective. Any resulting Pires shares issued would be acquired by Tern plc, and there is currently no certainty of new ordinary shares being issued unless the holder waives the condition.
| Date | 4 Jul 2022 |
| Time | 07:00:06 |
| Category | Miscellaneous |
| ID | 1205R |
Pires Investments Plc
("Pires" or the "Company")
Conditional Warrant Exercise
Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, announces that it has received a conditional warrant notice over 13,000,000 ordinary shares in the Company at an exercise price of 4 pence per share which will become effective on or prior to the date on which the Scheme becomes Effective. The resulting Pires shares issued will be subject to the Scheme and be acquired by Tern plc.
As the exercise of warrant is conditional only on the Scheme becoming Effective, there is no certainty that new ordinary shares resulting from the exercise of warrant will be issued and admitted to trading. Additionally, the holder may unilaterally waive the condition and pay the aggregate exercise price to exercise the Pires Warrants at any time prior to the Scheme becoming Effective.
Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Company's announcement of 28 June 2022.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
For further information please contact:
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Pires Investments plc Nicholas Lee, Director
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Tel: +44 (0) 20 3368 8961
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Nominated Adviser Cairn Financial Advisers LLP Liam Murray/Ludovico Lazzaretti
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Tel: +44 (0) 20 7213 0880 |
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Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams
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Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936 |
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Joint Broker Tennyson Securities Peter Krens |
Tel: +44 (0) 20 3167 7221
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Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills |
Tel: +44 (0) 20 3004 9512
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Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/.