Business
Placing to raise £5 million
Placing to raise £5 million.
About this update from Sosandar Plc
[{"type":"text","content":"\n \nRNS Number : 7817C Sosandar PLC 12 February 2020 \n\n12 February 2020\n \nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN OR INTO WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF SOSANDAR PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\n \nSosandar plc\nPlacing at 17 pence per share\nSosandar plc (AIM: SOS), the online women's fashion brand, announces its intention to conduct a placing of 29,411,764 new ordinary shares in the capital of the Company (the \"Placing Shares\") to institutional investors at a placing price of 17 pence per Placing Share (the \"Placing Price\") to raise gross proceeds of £5 million (the \"Placing\"). In the event of excess demand, the Company reserves the right to increase the size of the Placing in its discretion.\nThe Placing is comprised of a firm placing of 24,428,450 new Ordinary Shares (the \"Firm Placing\") and a further placing of 4,983,314 new Ordinary Shares which is conditional, inter alia, on Shareholder approval (the \"Conditional Placing\"). The Placing is being arranged by Shore Capital, as agent for the Company.\nThe net proceeds raised from the Placing are expected to be used to provide further support for the continuation of Company's recently accelerated and successful growth strategy.\nThe Placing will be conducted by way of an accelerated bookbuilding process (the \"Bookbuild\") which will be launched immediately following this announcement in accordance with the terms and conditions set out in the Appendix. The Placing Shares are not being made available to the public. Details of the number of Placing Shares and the approximate gross proceeds of the Placing will be announced as soon as practicable after the closi...