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BONUS ISSUE OF UP TO 236,565,097 NEW ES CERAMICS SHARES ("BONUS SHARES") TOGETHER WITH UP TO 236,565,097 FREE DETACHABLE ES CERAMICS WARRANTS ("WARRANTS"), ON THE BASIS OF 1 BONUS SHARE TOGETHER WITH 1 WARRANT FOR EVERY 1 EXISTING ES CERAMICS SHARE HELD AS AT 5.00 P.M. ON 15 OCTOBER 2020 ("BONUS ISSUE OF SHARES WITH FREE WARRANTS")
Each Warrant carries the entitlement to subscribe for 1 new ES Ceramics Share at the exercise price (as set out above) and at any time during the exercise period (as set out above) ("Exercise Period") subject to the adjustments in accordance with the provisions of the deed poll dated 1 October 2020 constituting the Warrants. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. This announcement is dated 23 October 2020.