LONDON - Macaulay Capital PLC (AQSE:MCAP), a company specializing in managing corporate transactions and investments, has reported the exercise of warrants and the repayment of a director's loan. Harry and Tom Horner, sons of company director David Horner, exercised 2,550,000 warrants each at £0.25 per share, raising £1,275,000 for the company. These funds were used to repay a £500,000 loan previously extended by David Horner to Macaulay Capital on July 26, 2024.
The company also disclosed amendments to the terms of the remaining warrants held by the Horner sons. The deadline for exercising the remaining 900,000 Unconditional Founder Warrants has been extended to December 31, 2025. The company retains the right to require the exercise of these warrants at any time before this new deadline.
Following the transaction, Harry and Tom Horner each will hold 3,550,000 ordinary shares, representing 23.5% of Macaulay Capital's enlarged issued share capital. Collectively, the Horner family will control 50.7% of the company's shares post-exercise. The new ordinary shares resulting from the warrant exercise are expected to be admitted to trading on December 9, 2024, bringing the company's total issued share capital to 15,100,000 ordinary shares.
The directors of Macaulay Capital, excluding David Horner, have reviewed the amendments to the warrant terms and consider them fair and reasonable for the shareholders. These transactions are classified as related party transactions due to the familial relationship and shareholdings of the Horners.
This announcement is based on a press release statement and contains information that is considered inside information under UK Market Abuse Regulation. The directors of Macaulay Capital are responsible for the contents of this release.
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