Business
Results of Placing to raise £5 million
Results of Placing to raise £5 million.
About this update from Sosandar Plc
[{"type":"text","content":"\n \nRNS Number : 8007C 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2020 \n\n12 February 2020\n \nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN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\nResults of Placing to raise £5 million\nSosandar plc (AIM: SOS), the online women's fashion brand, is pleased to announce that, further to the announcement made earlier today regarding the proposed placing, the Company has placed 29,411,764 new ordinary shares in the capital of the Company (the \"Placing Shares\") at the placing price of 17 pence per Placing Share (the \"Placing Price\") to raise gross proceeds of £5 million (the \"Placing\"). The Placing is comprised of a placing of 24,428,450 Firm Placing Shares and 4,983,314 Conditional Placing Shares, which are subject to the passing of the Resolutions at the General Meeting to be held at the Company's registered office on 2 March 2020.\nThe Circular, containing further details of the Placing and convening the General Meeting to approve the issue and allotment of the Conditional Placing Shares is expected to be sent to Shareholders tomorrow, along with a Form of Proxy to vote at the General Meeting, and the Circular will also be available tomorrow on the Company's website at: http://www.sosandar-ir.com/.\nShore Capital is acting as Nominated Adviser, Sole Bookrunner and Sole Broker to the Company.\nAli Hall and Julie Lavington, Co-CEOs, commented:\n\"We are very pleased to have successfully raised £5 million through this placing, with both new and existing shareholders showing their support for the business and our growth plans. \nThe strong results ach...