TIDMPIRI

RNS Number : 1205R

Pires Investments PLC

04 July 2022

Pires Investments Plc

("Pires" or the "Company")

Conditional Warrant Exercise

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, announces that it has received a conditional warrant notice over 13,000,000 ordinary shares in the Company at an exercise price of 4 pence per share which will become effective on or prior to the date on which the Scheme becomes Effective. The resulting Pires shares issued will be subject to the Scheme and be acquired by Tern plc.

As the exercise of warrant is conditional only on the Scheme becoming Effective, there is no certainty that new ordinary shares resulting from the exercise of warrant will be issued and admitted to trading. Additionally, the holder may unilaterally waive the condition and pay the aggregate exercise price to exercise the Pires Warrants at any time prior to the Scheme becoming Effective.

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Company's announcement of 28 June 2022.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information please contact:

 
 Pires Investments plc              Tel: +44 (0) 20 3368 8961 
  Nicholas Lee, Director 
 Nominated Adviser 
  Cairn Financial Advisers LLP        Tel: +44 (0) 20 7213 0880 
  Liam Murray/Ludovico Lazzaretti 
 Joint Broker 
  Peterhouse Capital Limited          Tel: +44 (0) 20 7469 0935 
  Duncan Vasey/Lucy Williams          Tel: +44 (0) 20 7469 0936 
 Joint Broker 
  Tennyson Securities                 Tel: +44 (0) 20 3167 7221 
  Peter Krens 
 Financial media and PR 
  Yellow Jersey                       Tel: +44 (0) 20 3004 9512 
  Sarah Hollins 
  Henry Wilkinson 
  Annabelle Wills 
 

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/ .

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July 04, 2022 02:00 ET (06:00 GMT)

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