Issued Share Capital

As at 24 June 2019, the issued share capital of the Company is 35,556,549 ordinary shares of £0.0001.

The directors are interested in a total of 7,894,652 (22.2%) ordinary shares, resulting in 27,661,897 (77.8%) ordinary shares being in public hands.

Substantial Shareholdings

Number of Ordinary Shares

Percentage

Gledhow Investments plc

1,666,665

4.68%

Directors Shareholdings

Name Shares Controlled % Holding
Jeremy Ross 3,624,520 10.19
Burns Singh Tennent-Bhohi 3,500,000 9.8
Conrad Windham 770,132 2.17

Options Over Ordinary Shares

Name Options Over
Ordinary Shares
Excercise
Price
Expiry Date
Jeremy Ross 2,000,000 2.5p 21 June 2024
Burns Singh Tennent-Bhohi 2,000,000 2.5p 21 June 2024
Conrad Windham 1,000,000 2.5p 21 June 2024
Conrad Windham 166,666 45p 31 December 2027
Edward Taylor 66,666 45p 31 December 2027
Conrad Windham 200,000 90p 31 December 2027
Edward Taylor 16,666 90p 31 December 2027

There are a total of 5,449,998 Share Options over ordinary shares in issue. If all Options were to be exercised, the total issued share capital of the Company would comprise 41,006,547 ordinary shares.

Warrants Over Ordinary Shares

There are 27,502,825 warrants over ordinary shares in issue, all with an exercise price of 2.5p and all with an expiry date of 21 June 2022.

Should a warrant holder exercise all their warrants over ordinary shares by 21 June 2020, the warrant holder will receive one new replacement warrant for each warrant exercised. The new replacement warrants will have an exercise price of 5p and an expiry date of three years following the issue of such replacement warrants.

In the event that all 27,502,825 warrants over ordinary shares are exercised in full by 21 June 2020, the Company would receive funding of £687,570.

In the event that all 27,502,825 new replacement warrants are exercised in the three years following their issuance, the Company would receive further funding of £1,375,141.

There are potentially a maximum of 55,005,650 warrants that could be exercised by 21 June 2023. If all warrants were to be exercised, the total issued share capital of the Company would comprise 90,562,199.

If all outstanding options and warrants were exercised by 21 June 2023, the maximum total issued share capital of the Company would be 96,012,197 ordinary shares.

Director Warrant Holdings

Name Warrants
Jeremy Ross 3,624,520
Burns Singh Tennent-Bhohi 3,500,000
Conrad Windham 666,666

Shareholder Information

Valiant – General Meeting Circular June 2019
Valiant – Annual Report 2017
Notice of AGM 2018
Valiant Investments Final Accounts 2016
Notice of AGM 2017
Valiant – Annual Report 2018