Helium Ventures Plc - Update on Subscription Agreement with Vestigo Technologies Ltd
PR Newswire
LONDON, United Kingdom, June 06
Helium Ventures plc
("Helium Ventures" or the "Company")
6 June 2024
Update on Subscription Agreement with Vestigo Technologies Ltd
Helium Ventures plc, announces that, further to the announcement on 9 October 2023, pursuant to the terms of the Subscription Agreement entered into with Vestigo Technologies Ltd ("Trackimo"), the Company has been issued shares in Trackimo.
The Company has been issued 1,032,407 Ordinary A class shares at a price of approximately £1.84 per share, representing 19.36% of the current issued share capital of Trackimo. The conversion share price is based on the terms of the Subscription Agreement, and was triggered by the expiry of the long stop date for Trackimo completing an IPO.
The Company has been made aware that a shareholder of Trackimo may seek to challenge the share issue with legal action. Should any formal legal action be taken, a further announcement will be made in due course. The Company is in the process of taking legal advice from its lawyers.
The Company continues to assess opportunities to build additional value for the Company and its shareholders.
Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Company's announcement of 9 October 2023.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
| Helium Ventures plc Charlie Wood | +44 (0) 20 3475 6834 |
Cairn Financial Advisers LLP (AQSE Corporate Adviser) Liam Murray / Ludovico Lazzaretti | +44 (0) 20 72130 880 |
For more information please visit: www.heliumvs.com
