Warrant Cancellations & Capital Structure Update
Bluebird Mining Ventures Ltd has announced a further cancellation of 19,500,000 warrants exercisable at 0.23 pence per Ordinary Share, reducing the outstanding total in this class to 108,255,435. This brings the total reduction in this warrant class to 119,005,435 since the cancellation programme began, significantly decreasing their representation in the company's issued ordinary share capital from approximately 11.34% to 3.37%. The company is continuing to review the validity and enforceability of remaining historic warrants as part of its ongoing efforts to simplify its capital structure.
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Bluebird Mining Ventures Ltd (LSE: BMV), a company focused on the development of its Energy Harvesting and Metal Harvesting businesses, announces a further update in relation to the Company's ongoing programme to simplify its capital structure and reduce historic warrant overhang.
As announced on 9 April 2026, the Company had agreed the cancellation of 100,505,435 warrants exercisable at 0.23 pence per Ordinary Share and stated its intention to seek the cancellation of the remaining warrants within this historic warrant class.
Since that announcement, the Company has continued to engage with relevant warrant holders and has now agreed the cancellation of a further 19,500,000 warrants exercisable at 0.23 pence per Ordinary Share.
Following these further cancellations, 108,255,435 warrants exercisable at 0.23 pence per Ordinary Share will remain outstanding, compared with 228,260,870 warrants in this class prior to the commencement of the cancellation programme.
Remaining Warrants
The remaining 0.23 pence warrants are currently subject to review by the Company. This includes certain warrants where the Company is reviewing their validity, enforceability and/or continued existence, together with other warrants in respect of which discussions regarding cancellation remain ongoing.
The Company intends to continue the process of resolving the remaining historic warrants and will provide further updates as appropriate.
Following the cancellations announced today, the remaining 0.23 pence warrants represent approximately 3.37% of the Company's current issued ordinary share capital. This compares with approximately 11.34% immediately prior to the commencement of the cancellation programme.
The potential dilution represented by this historic warrant class has therefore been materially reduced and now represents a relatively small component of the Company's overall capital structure.
The Company will continue to review historic securities and other legacy capital arrangements as part of its wider programme to maintain a clear and efficient capital structure.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.