Prior to the issue of £300,000 of Convertible Loan Notes on the 29 June 2026, the last fund raise by the Company was the completion of a £350,000 Placing of ordinary £0.001 shares at 3 pence per share. The resulting issue of 11,666,666 new shares, increased the Company’s issued share capital to 83,332,877 ordinary shares.
Capital reorganisation
Following a GM on 21 May 2026, the Company split its shares from one £0.01 to one new ordinary £0.001 share and one deferred share of £0.009. The number of ordinary shares remained at 83,332,877 £0.001 shares.
Other than those warrants announced on 29 June 2026, there are no other outstanding warrants or options, with the last set of warrants expiring on 19 February 2025.
Shareholders
At 22 April 2024 the Company had been informed of the following substantial interests over 3% of the issue shares:
| Holder | No. of Shares | Percent |
|---|---|---|
| Clive de Larrabeiti | 6,600,100 | 7.92% |
| Sebastien Willems | 4,691,400 | 5.63% |
| The estate of Andrew Holland | 3,833,333 | 4.60% |
| Peter Mills | 3,602,100 | 4.32% |
29 June 2026 Convertible Loan Note £300,000
On the 29June 2026 it was announced that £300,000 had been raised via the issue of Convertible loan notes. In addition, a further £18,000 of CLN was subsequently issue in settlement of loans made earlier by Nicholas Nelson and one other investor. The conversion price of all CLNs is at £0.0025
Accordingly with £318,000 of CLNs converted, the Companies issued Share Capital would increase to 210,532,877 ordinary £0.001 shares. At which point Nicholas Nelson’s shareholding would be 11,600,000 shares representing 5.5% of the issued capital.