TIDMBRSD
RNS Number : 5212M
Brandshield Systems PLC
24 May 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
24 May 2022
BrandShield Systems Plc
("BrandShield" or the "Company")
Subscription to raise GBP1.0 million
BrandShield Systems plc (AIM: BRSD), a leading provider of
cybersecurity solutions for brand oriented digital risk protection,
announces it has raised GBP1.0m (gross) in a subscription
("Subscription") of 12,500,000 shares ("Subscription Shares") at an
issue price of 8 pence per share.
Subscription Rationale and Use of Proceeds
To date, the Company has operated on limited funds in order to
conserve working capital. Following this investment, the Board of
BrandShield will be in a position to accelerate the following key
growth initiatives:
-- Expansion of sales and marketing efforts to further
capitalise on a significant market opportunity
-- Convert near-term organic pipeline which continues to gather
momentum despite budgetary constraints
-- Further investment in BrandShield 3.0, which is now central
in driving both existing customer retention and new business
pipeline
Yoav Keren, Chief Executive Officer of BrandShield,
commented:
"We are delighted to have received further investment into the
Company and believe the investors' ongoing commitment to
BrandShield continues to validate our business and our go to market
strategy.
Pleasingly, we have seen a significant increase in interest in
2022 for our products, reflecting the unique nature of our SaaS
solutions and the highlighting the critical need for corporates to
protect online cyber threats external to the organization.
This fresh round of investment will enable BrandShield to
accelerate a number of key growth drivers, ensuring we capitalise
on what we believe is a significant market opportunity for our
business."
The Subscription
The Company has entered into a subscription agreement with
William Currie Investments Limited and Sir Terence Leahy ("the
Subscribers") whereby the Subscribers will subscribe for 12,500,000
shares at a share price of 8 pence per share. The Subscription is
conditional upon, inter alia, admission of the Subscription Shares
("Admission") occurring by no later than 30 June 2022.
Admission of Subscription Shares
Application will be made for the Subscription Shares to be
admitted to trading on the AIM market of London Stock Exchange plc
("Admission"). It is expected that Admission will take place at or
around 8.00 a.m. (London time) on 27 May 2022 but in any event not
later than 8.00 a.m. on 30 June 2022. The Subscription is
conditional upon, inter alia, Admission becoming effective and the
Subscription Agreement not having been terminated. The Subscription
Shares will, when issued, be credited as fully paid and will rank
pari passu in all respects with the Company's existing issued
ordinary shares of 1 penny each ("Ordinary Shares").
Total Voting Rights
Following Admission, the Company's issued share capital will
consist of 141,165,207 Ordinary Shares. The Company holds no
Ordinary Shares in treasury.
Therefore, the total number of voting rights in BrandShield
following Admission will be 141,165,207, which is the figure which
should be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in,
BrandShield shares under the FCA's Disclosure Guidance and
Transparency Rules.
Enquiries:
BrandShield Systems plc +44 (0)20 3143
Yoav Keren, CEO 8300
Spark Advisory Partners Limited (Nominated
Adviser) +44 (0)20 3368
Neil Baldwin / Andrew Emmott / James Keeshan 3554
Shore Capital (Joint Broker)
Toby Gibbs / James Thomas / Liam Zabludowicz
(Corporate Advisory) +44 (0)20 7408
Henry Willcocks (Corporate Broking) 4090
Tennyson Securities (Joint Broker) +44 (0)20 3368
Peter Krens 3554
Vigo Consulting (Financial Public Relations)
Jeremy Garcia / Kendall Hill +44 (0)20 7390
brandshield@vigoconsulting.com 0237
About BrandShield
BrandShield is a provider of cybersecurity solutions from brand
protection to online threat hunting. BrandShield detects online
threats and takes them down. The Company's client base is a growing
list of organisations including Fortune 500 and FTSE100 companies.
By utilising AI and big-data analysis, BrandShield monitors,
detects, and removes online threats facing companies. These threats
include social phishing, executive impersonation, fraud, brand
abuse, and counterfeits.
For more information, visit www.brandshield.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFFFFLEAIVFIF
(END) Dow Jones Newswires
May 24, 2022 02:01 ET (06:01 GMT)
Brandshield Systems (LSE:BRSD)
Historical Stock Chart
From Apr 2024 to May 2024
Brandshield Systems (LSE:BRSD)
Historical Stock Chart
From May 2023 to May 2024