After the LPI placement, the ratio may need to be adjusted ... to approximately 0.784 to maintain the 15.6% share.That means BRZshareholders will receive 0.784 LPI shares ( before 0.70 ) per BRZ share.Is that right ?"
Is that right ?
22.06.2022:
Proforma Holding
Post completion of both Transactions, using LPI’s 1-month VWAP, LPI shareholders will hold a 57.9% interest in the diluted proforma Company that holds 100% of the Project. Under a scenario where the maximum number of shares are issued under the Transactions LPI current shareholders will hold a ~57.7%21 interest in the proforma Company:
Entity
Maximum Number of Shares Issued
% Interest in Proforma LPI
1 LPI Current Ordinary Shareholders
349.1m22
57.7%
2 SBD LPI Shares
161.6m
26.7%
3 Bearing Shareholders
94.523
15.6%
4 Total LPI Ordinary Shares Outstanding
605.2m
100%
5 Martin Borda Relevant Interest
177.8m24
29.4%
As consideration for theTransactions, the Company will issue to the shareholders of SBD and Bearing(respectively):
•• to acquire SBD,161,556,061 ordinary LPI shares to merge with SBD, under the terms of the SBDTransaction; and
• to acquire Bearing, 0.70 ordinary LPI shares: o for every Bearing common share on issue, for a totalof 76,340,416 LPI shares; and
ofor every Bearing option (“Option”)or Bearing warrant (“Warrant”) that is exercised prior to completion ofthe Bearing Transaction up to a maximum of 18,204,7984 LPI sharesassuming all Options and Warrants are exercised5.
