Business
First Day of Dealings
First Day of Dealings.
About this update from Sosandar Plc
[{"type":"text","content":"\n \nRNS Number : 3232V Sosandar PLC 02 November 2017 \n\nSosandar plc\n \n(\"Sosandar\" or the \"Company\")\n \nAdmission to AIM and First Day of Dealings\n \nSosandar plc (AIM: SOS.L) (formerly known as Orogen plc), the online women's fashion retailer, announces its admission to trading on AIM (\"Admission\") today following the reverse takeover of Thread 35 Ltd (\"Thread\").\n \nThe number of ordinary shares in issue immediately after Admission will be 106,814,658 giving the Company a market capitalisation of approximately £16.1 million at the issue price of 15.1 pence per share. Dealings in the ordinary shares will commence at 8.00 a.m. today, 2 November 2017, under the TIDM of \"SOS\" and with the ISIN number GB00BDGS8G04.\n \nAbout Sosandar\nSosandar launched in September 2016 and is the brainchild of former Look magazine editor Ali Hall and former Look and InStyle publishing director Julie Lavington. The Company is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic. This targeted market segment was estimated to be worth, for the year ended December 2016, £3.7 billion.\n \nBased on previous experience within the UK fashion industry and their understanding of the target demographic, this is a segment of the market that the Company believes is currently under-served.\n \nThread achieved total gross sales for the 11 months ended 31 July 2017 of £847,000 and net sales (after returns) of £478,000.\n \nAdmission Highlights\n· Successfully raised £5.3 million (before expenses) via a placing of 35,099,338 new ordinary shares at an issue price of 15.1 pence per share\n· New monies to fund further expansion of its current product pipeline, raise brand awareness and to grow the enlarged group\n \nAli Hall Co-Founder and Joint CEO commented: \"Sosandar has truly resonated with a new generation of fashion conscious women looking for chic, trend led, quality but affordable clothes. The Sosandar team is very excited by the opportunities ahead.\"\n \nJulie Lavington Co-Founder and Joint CEO added: \"Today's announcement coupled with this significant investment heral...