Business
Proposed Placing to raise a minimum of £4 million
Proposed Placing to raise a minimum of £4 million.
About this update from Sosandar Plc
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBIC OF IRELAND, SINGAPORE, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE EU REGULATION 596/2014 (\"MAR\") AND ARTICLE 7 OF MAR AS INCORPORATED INTO UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n \n \n \n \n \n \n \n Sosandar plc \n \n \n (\"Sosandar\" or the \"Company\")\n \n \n \n Proposed Placing to raise a minimum of £4 million\n \n \n \n Sosandar plc (AIM: SOS), one of the fastest growing fashion brands in the UK, creating quality, trend-led products for women of all ages, today announces a proposed placing (the \"Placing\") of not less than 18,181,818 new ordinary shares of 0.1 pence each (\"Ordinary Shares\") in the capital of the Company (the \"Placing Shares\").\n \n \n The Placing will be conducted via an accelerated bookbuild (the \"Bookbuilding Process\") at a price of 22 pence per Ordinary Share (the \"Issue Price\") in order to raise minimum gross proceeds of approximately £4 million (before expenses).\n \n \n In addition to the Placing, the Company intends to carry out a separate offer of up to\n 2,272,727 new Ordinary Shares at the Issue Price via the BookBuild Platform (the \"Retail Shares\") to raise further gross proceeds of up to approximately £0.5 million (the \"Retail Offer\", together with the Placing, the \"Fundraise\"), to provide existing retail shareholders in the United Kingdom with an opp...