The units issued upon the board’s decision on 22 August 2018 consisted of both shares and warrants. The shares were issued upon authorization which the annual general meeting had submitted to the board in advance. Since, at the time of the annual general meeting, there was uncertainty as to how the capital acquisition would be structured, the authorization did not include warrants. The board has therefore convened an extraordinary meeting of shareholders to vote on retroactive authorization of the issuance of warrants.
Those who have utilized unit rights to subscribe for units in the issue have been allotted BTU. These will be converted to shares and warrants when the issue has been registered.
Registration is expected to occur during the week of October 15th 2018. BTU will continue to be traded on Spotlight.