Valereum PLC (AQSE:VLRM, FRA:6TJ) will move to reduce potential dilution by exercising an option to cancel 2 million warrants, paying a £90,000 fee.
The warrants were exercisable at £0.005, and the cancellation follows a previously announced agreement with a service provider. Valereum said it will pay the cancellation fee “in exchange for cancelling all Warrants held by the warrant holder”.
The company said directors considered the option exercise to be in the best interests of shareholders, as it continues to position itself around developing tokenised digital markets.