Ethernity Networks Share Discussion Threads

[purchaseatthetop] 22/6/2024 12:18

The RNS says
“The amount available to be exercised under the Warrant is £800,000, less the value of the 40,000,000 Subscription Shares, calculated by reference to the relevant exercise price,”

“The exercise price will be reset on the 45th day after Closing, following which it will be calculated as the average of the lowest five daily VWAPs of an Ordinary Share during the twenty trading days before the receipt of a Warrant exercise notice by the Company, less a 15% discount.”

Therefore the value of the 40m subscription shares is NOT what they are sold for. It is their VWAP value on the moment of exercise.

Always best to take the worst case with Bergen because it could be even worse than that!

[purchaseatthetop] 22/6/2024 11:47

Postman PATT simply reads EXACTLY what the RNS says is the mechanics of the deal. This is a worst case and I truly hope PW is correct. But the RNS says something different.

[pwhite73] 22/6/2024 11:30

DW. that's how it's worked on the lowest priced five days out of the twenty prior to the warrant exercise. In your example 0.675p becomes 0.573p after 15% discount.

As you can see from the low priced dates I have given the damage has already been done. What is required is a rising share price to limit how much of the £800k contingent warrants Bergen can exercise. If the share price hits 3p valuing Bergen stake at £1.2 million they cannot exercise any warrants despite what Postman Patt tells you.

The warrants are not real warrants in the normal sense they are only contingent warrants in the event Bergen cannot recuperate their £800k via their 40m subscription shares.

RNS 17/05/2024 - "In consideration of the gross Fundraise proceeds, New Tech has been granted a contingent warrant..."

[purchaseatthetop] 22/6/2024 11:07

Daddywarbucks. Spot on. It is all trades buys and sells value divided by total volume.

[purchaseatthetop] 22/6/2024 11:04

They certainly can screw the shareholders. No doubt. But they make much more money selling into a rising share price. With a little selling they could have dropped the share price to 0.25p. But they didn’t. They may well be evil but we will see!

[daddy warbucks] 22/6/2024 11:01

Is the Volume weighted average price the same as the closing price or lowest price for those days?For instance using round figures for an example.10 million traded on the day.7 million bought at .75p equals £52,5003 million sold at .50p equals £15,00010 million trade for total value £67,500. Average per share = 0.675p

[socionomics] 21/6/2024 15:48

Decent price action today. Thanks once again to PATT for all his support. Have a great weekend.

[purchaseatthetop] 21/6/2024 15:30

Classic example of trigger trading!

Bought 910,958 at 13.04 for 0.84p
Sold 910,958 at 14.14 for 0.7515p

It is why we spike and drift.

[realdealy] 21/6/2024 14:22

Oh dear looks like it's strugglin again.

[countbasie1] 21/6/2024 12:52

Don't confuse PW pkease

[realdealy] 21/6/2024 12:18

Even a modest buy by David would push up the share price and help with warrants conversion.

[realdealy] 21/6/2024 12:17

Get buyin David .

[purchaseatthetop] 21/6/2024 12:03

Now the MMs want more stock and have closed the spread

[countbasie1] 21/6/2024 12:00

Lovely. In profit on my recent purchase.

[countbasie1] 21/6/2024 11:58

BantsSo are tiu