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LONDON - K3 Business Technology Group PLC (AIM:KBT), a provider of business technology solutions, has announced the issuance of 600,000 new ordinary shares following the exercise of warrants by investment firm Kestrel Partners LLP. The exercise is connected to a warrant agreement dating back to 1 April 2020, when Kestrel supported K3 with loans during the initial stages of the coronavirus pandemic.
The shares, allotted on Thursday, have a nominal value of 25p each and were subscribed at the same price. K3 has initiated the process for these shares to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG), with admission expected to take place on or around 29 May 2025.
Following this issue, K3’s issued share capital will consist of 45,932,379 ordinary shares, each carrying equal voting rights. The company has stated that there are no shares held in treasury, making the total voting rights in the company also 45,932,379. This figure is relevant for shareholders who need to determine whether they must disclose changes in their shareholding in the company.
The transaction reflects Kestrel’s exercise of its right to convert warrants into shares, a common financial instrument used by investors and companies during capital raising exercises. The exercise of warrants often indicates investor confidence in the company’s prospects and can provide additional capital for the company to pursue its growth strategies.
This news is based on a press release statement and provides shareholders and potential investors with updated information on K3’s total voting rights and share capital structure.
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