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LONDON - K3 Business Technology Group PLC (AIM:KBT), a provider of business management solutions, has announced the issuance of 600,000 new ordinary shares following the exercise of warrants by investor Johan Claesson through his associated companies, CA Fastigheter AB and Johannes Plan Fastigheter AB. These warrants were initially granted on April 1, 2020, as part of a financial arrangement during the early stages of the coronavirus pandemic.
The new shares, each with a nominal value of 25 pence, were allotted on Monday in line with the terms set in 2020, allowing Claesson’s associated companies to subscribe at a price of 25 pence per share. K3 has confirmed that the application for these shares to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG) is underway, with admission expected around May 23, 2025.
Following the issue of the new shares, K3’s issued share capital will consist of 45,332,379 shares. Each share carries equal voting rights, and the company has stated that none are held in treasury. Consequently, the total voting rights in K3 will stand at 45,332,379. This figure is relevant for shareholders who need to disclose changes in their shareholding in the company.
The exercise of warrants and the subsequent increase in share capital is a routine corporate action for companies with publicly traded securities. It allows investors holding warrants the opportunity to purchase shares at a previously agreed price, potentially providing additional capital to the issuing company.
This announcement is based on a press release statement from K3 Business Technology Group PLC.
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