TIDMSOS
RNS Number : 0482H
Sosandar PLC
29 July 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS
RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR AUSTRALIA OR
ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
Sosandar plc
Result of General Meeting
Sosandar PLC (AIM: SOS), the online women's fashion brand, is
pleased to announce that, further to the Company's announcement on
11 July 2019 in relation to a Placing to raise GBP7 million (before
expenses) for the Company, the resolutions put to the General
Meeting held earlier today to approve the Conditional Placing, were
duly passed.
Application has been made to the London Stock Exchange for the
Placing Shares to be admitted to trading on AIM. Admission will
become effective and dealings in the Placing Shares will commence
on AIM on 31 July 2019.
Following Admission of the Placing Shares, the Company's
enlarged issued share capital will comprise 162,856,358 Ordinary
Shares. The Company has no shares in treasury. This figure of
162,856,358 Ordinary Shares 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 of their
interest in, the share capital of the Company under the Disclosure
Guidance and Transparency Rules of the FCA.
Defined terms used in this announcement not otherwise defined
have the meanings set out in the Company's shareholder circular
published on 11 July 2019 in connection with the Placing.
Enquiries
Sosandar plc www.sosandar.com
Julie Lavington / Ali Hall, Joint c/o Alma PR
CEOs
Shore Capital
Patrick Castle / Mark Percy / James
Thomas +44 (0) 207 408 4090
Alma PR Limited (Financial PR) +44 (0) 203 405 0205
Rebecca Sanders-Hewett / Susie Hudson sosandar@almapr.co.uk
/ Sam Modlin
About Sosandar PLC
Sosandar is an online womenswear brand, specifically targeted at
a generation of women who have graduated from throwaway fashion and
are looking for quality, affordable clothing with a premium,
trend-led aesthetic. This is a section of the market that is
currently being underserved.
Sosandar was launched in September 2016. The Sosandar business
model is built around using trend-led, exclusive designs produced
in-house and then manufactured using a variety of global suppliers.
Sosandar caters for a growing market of fashion conscious women,
while utilising an outsourced logistics provider that can support
its planned growth over the coming years.
Sosandar's founders are Ali Hall and Julie Lavington, who
previously launched and ran high street fashion magazine Look, as
editor and publishing director respectively. They have a combined
experience of over 35 years in the fashion industry, including in
the design, manufacture and sale of fashion ranges for some of the
UK's high street retailers, including Debenhams, Office, Oasis and
JD Williams.
More information is available at www.sosandar-ir.com
Disclaimer
Shore Capital and Corporate Limited, which is authorised and
regulated by the FCA, acts as nominated adviser to the Company for
the purposes of the AIM Rules for Companies. Shore Capital
Stockbrokers Limited is a member of the London Stock Exchange and
is authorised and regulated by the FCA. Shore Capital and Corporate
Limited and Shore Capital Stockbrokers Limited are acting
exclusively for the Company and for no one else in connection with
the Placing and will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Shore
Capital or for providing advice in relation to the Placing, or any
other matters referred to in this Announcement.
This announcement has been issued by the Company and is the sole
responsibility of the Company. No representation or warranty,
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by Shore
Capital or by any of its affiliates or agents as to, or in relation
to, the accuracy or completeness of this announcement or any other
written or oral information made available to or publicly available
to any interested party or its advisers, and any liability
therefore is expressly disclaimed.
References in this announcement to Shore Capital refers to Shore
Capital and Corporate Limited and/or Shore Capital Stockbrokers
Limited as the context admits.
This announcement includes or may include forward-looking
statements relating to the Company's future prospects, developments
and strategies and are based on the current expectations,
projections and assumptions of the Directors and involve known and
unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in such statements. Forward-looking statements are
sometimes identified by the use of terms and phrases such as
"believe", "expects", "envisage", "may", "will", "could", "should",
"shall", "risk", "intends", "estimates", "aims", "plans",
"predicts", "continues", "assumes", "positioned", "targets" or
"anticipates" or the negative thereof, variations or comparable
expressions, including reference to assumptions. These
forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
announcement and include statements regarding the intentions,
beliefs or current expectations of the Directors or the Company
relating to the Company's future prospects, developments and
strategies and are based on assumptions and estimates and involve
risks, uncertainties and other factors that may cause the actual
results, financial condition, performance or achievements of the
Company or industry results to be materially different from any
future results, performance or achievement expressed or implied by
such forward looking statements. No assurance can be given that
such future results will be achieved. New factors may emerge from
time to time that could cause the Company's business not to develop
as it expects and it is not possible for the Company to predict all
such factors. Each forward-looking statement contained in this
announcement speaks only as of the date of the particular
statement. The Company, the Directors, Shore Capital and Corporate
Limited and Shore Capital Stockbrokers Limited each expressly
disclaim any obligation to update these forward-looking statements
contained in this announcement to reflect any change in their
expectations or any change in future events or developments on
which such statements are based unless required to do so by
applicable law or regulation, the AIM Rules for Companies or the
AIM Rules for Nominated Advisers.
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.
END
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