|6 Months Ended|
Jul. 31, 2021
|Disclosure of classes of share capital [abstract]|
In addition to ‘April 2020 note’ and ‘February 2021 SPA ‘disclosed in note 5 (c) Fair value loss on convertible notes derivatives and warrants, following transactions have contributed to the movement of the ordinary shares in the current period.
On February 24, 2021, the Group entered into an equity distribution agreement (the “February EDA”) with Maxim Group LLC (“Maxim”), pursuant to which the Group may sell, from time to time, through Maxim, Ordinary Shares having an aggregate offering price of up to $m (the “ATM Offering”). Sales of Ordinary Shares in the ATM Offering, if any, will be made by any method permitted that is deemed an “at the market offering” as defined in Rule 415 under the Securities Act. Maxim is not required to sell any specific amount but will act as the exclusive sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between Maxim and us. The Group has no obligation to sell any of the Ordinary Shares under the February EDA and may at any time suspend solicitation and offers under the February EDA. As of July 31, 2021, the Group sold an aggregate of Ordinary Shares pursuant to the February EDA, for gross proceeds of $ m and net proceeds of $ m, after payment to Maxim of an aggregate of $ m in commissions.
Registered Direct Offering
On February 1, 2021, the Group closed on the sale of 3m and other estimated offering expenses. Ordinary Shares in a public offering to certain institutional investors at a price of $ per share, for gross proceeds of $ m. Maxim acted as the sole placement agent in connection with the Offering. The net proceeds to the Group from the offering were approximately $ m, after deducting the placement agent’s fees of $
Naked Brand Group Limited
Notes to the Consolidated Financial Statements
For the Half Year Ended 31 July 2021
The holders of ordinary shares are entitled to participate in dividends and the proceeds on winding up of the Group. On a show of hands at meetings of the Group, each holder of ordinary shares has one vote in person or by proxy, and upon a poll each share is entitled to one vote.
The Group does not have authorised capital or par value in respect of its shares.
The following warrants were outstanding as at July 31, 2021 (January 31, 2021: )
Disclosure of Warrants Outstanding
The disclosure of classes of share capital. [Refer: Share capital [member]]
Reference 1: http://www.xbrl.org/2003/role/disclosureRef