| Share Capital and Share Premium | 6. Share
Capital and Share Premium The authorised share capital
of Globus consisted of the following: Share
Capital and Share Premium - Authorised share capital
June 30, December 31,
2021 2020
Authorised share capital:
500,000,000 0.004 2,000 2,000
100,000,000 0.001 100 100
100,000,000 0.001 100 100
Total authorised share capital 2,200 2,200 Holders of the Company’s
common shares and Class B shares have equivalent economic rights, but holders of Company’s common shares are entitled to one vote
per share and holders of the Company’s Class B shares are entitled to twenty votes per share. Each holder of Class B shares may
convert, at its option, any or all of the Class B shares held by such holder into an equal number of common shares. Share
Capital and Share Premium - Common shares issued and fully paid
Common Shares issued and fully paid Number of shares Issued Share Capital
As of January 1, 2021 3,040,123 12
Issued during the period for share based compensation (Note 9) 4,012 —
Issuance of new common stocks 14,905,000 60
Issuance of common stock due to exercise of pre-funded warrants 2,075,000 8
As of June 30, 2021 20,024,135 80
Common Shares issued and fully paid Number of shares Issued Share Capital
As of January 1, 2020 52,235 —
Issued during the period for share based compensation (Note 9) 217 —
Issuance of common stocks due conversion of loan (Note 8) 11,678 —
Issuance of new common stocks 852,750 4
Issuance of common stock due to exercise of pre-funded warrants 5,550 —
As of June 30, 2020 922,430 4 On March 2, 2021, the Company entered into
a stock purchase agreement and issued 10,000 0.001 130 The issuance of the Series B preferred shares
to Goldenmare Limited were approved by an independent committee of the Company’s Board of Directors. As of June 30, 2021, the
Company had no 10,300 6. Share
Capital and Share Premium (continued) Share premium includes the contribution of
Globus’ shareholders for the acquisition of the Company’s vessels. Additionally, share premium includes the effects of the
acquisition of non-controlling interest, the effects of the Globus initial and follow-on public offerings and the effects of the share-based
payments described in Note 9. At June 30, 2021 and December 31, 2020, Globus share premium amounted to $ 284,383 195,102 On January 13, 2021, the remaining pre-funded
warrants from the December 2020 Pre-Funded Warrants were exercised and 130,000 0.004 On January 27, 2021, the Company entered into
a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 2,155,000
0.004
445,000
0.004
1,950,000
0.004
6.25
15,108 120 445,000
5 The January 2021 Warrants are exercisable for
a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder,
in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for
the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying
the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through
a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to
the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated
damages provisions. On February 12, 2021, the Company entered
into a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 3,850,000
0.004
950,000
0.004
4,800,000
0.004
6.25
27,891 152 950,000 10 The February 2021 Warrants are exercisable
for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option of each holder,
in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available funds for
the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common shares underlying
the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the warrant through
a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according to
the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains certain liquidated
damages provisions. On June 25, 2021, the Company entered into
a securities purchase agreement with certain unaffiliated institutional investors to issue (a) 8,900,000
0.004
1,100,000
0.004
10,000,000
0.004
5.00
46,581 129 550,000
5 550,000
The June 2021 Warrants
are exercisable for a period of five and one-half years commencing on the date of issuance. The warrants will be exercisable, at the option
of each holder, in whole or in part by delivering to the Company a duly executed exercise notice with payment in full in immediately available
funds for the number of common shares purchased upon such exercise. If a registration statement registering the issuance of the common
shares underlying the warrants under the Securities Act is not effective, the holder may, in its sole discretion, elect to exercise the
warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined
according to the formula set forth in the warrant. If the Company does not issue the shares in a timely fashion, the warrant contains
certain liquidated damages provisions. As of June 30,
2021, the Company had issued 5,550 388,700 388,700 6. Share
Capital and Share Premium (continued) As of June 30,
2021, no PP Warrants as defined in the 2020 Annual Report had been exercised and the Company had 1,291,833 1,291,833 The Company’s
warrants are classified in equity, following the Company’s assessment that warrants meet the equity classification criteria as
per IAS 32. |
