REG - Sosandar PLC - Result of Retail Offer

SosandarAnnouncement

17/02/2023 16:00

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RNS Number : 3427Q  Sosandar PLC  17 February 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
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INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND,
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DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE EU REGULATION 2014/596/EU ("MAR") AND ARTICLE 7 OF MAR AS INCORPORATED
INTO UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

17 February 2023

Sosandar plc

("Sosandar" or the "Company")

Result of Retail Offer

Further to the announcements on 08 February 2023 and this morning at 7:00
a.m., Sosandar plc (AIM: SOS), one of the fastest growing fashion brands in
the UK, creating quality, trend-led products for women of all ages, is pleased
to announce that it has raised gross proceeds of approximately £500,000
pursuant to a significantly oversubscribed Retail Offer via the Bookbuild
platform from existing shareholders. A total of 2,272,727 Retail Offer Shares
will be issued at 22 pence per Retail Offer Share.

Allocations were made to existing Shareholders applying the principles of soft
pre-emption with existing Shareholders receiving 100% of their soft
pre-emptive allowance. Where an order was greater than the soft pre-emptive
allowance, shareholders received c.30% of their additional demand.

Consequently, an application has been made to the London Stock Exchange for
the admission of 2,272,727 Retail Offer Shares to trading on AIM. Retail Offer
Admission is expected to take place and dealings are expected to commence in
the Retail Offer Shares at 8.00 a.m. on or around 21 February 2023.

The Retail Offer Shares, when issued, will be fully paid and will rank pari
passu in all respects with the existing Ordinary Shares, including the right
to receive all dividends and other distributions declared, made or paid after
the date of issue.

Following Retail Offer Admission, the Company's issued and fully paid share
capital will consist of 248,226,513 Ordinary Shares, all of which carry one
voting right per share. The Company does not hold any Ordinary Shares in
treasury. Therefore, the total number of Ordinary Shares and voting rights in
the Company will be 248,226,513. This figure may 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, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

Save as otherwise defined, capitalised terms used in this announcement have
the meanings given to them in the announcement released by the Company at
7.00a.m. 08 February 2023.

Enquiries

 

 Sosandar plc                                             www.sosandar.com (http://www.sosandar.com)
 Julie Lavington / Ali Hall, Joint CEOs                   c/o Alma PR
 Steve Dilks, CFO

 Singer Capital Markets                                   +44 (0) 20 7496 3000

 Peter Steel / Alaina Wong / Alex Emslie / Tom Salvesen

 Alma PR Limited (Financial PR)                           +44 (0) 20 3405 0205
 Sam Modlin / Matthew Young                               sosandar@almapr.co.uk (mailto:sosandar@almapr.co.uk)

 

About Sosandar PLC

Sosandar is one of the fastest growing women's fashion brands in the UK
targeting style conscious women who have graduated from price-led
alternatives. The Company offers this underserved audience fashion-forward,
affordable, quality clothing to make them feel sexy, feminine, and chic. The
business sells predominantly own-label exclusive product designed in-house.

 

Sosandar's product range is diverse, providing its customers with an array of
choice for all occasions across all women's fashion categories. The company
sells through Sosandar.com and has brand partnerships in place with Next, John
Lewis, Marks & Spencer, The Very Group, JD Williams and J Sainsbury.

 

Sosandar's strategy is to continue growing brand awareness and expand its
customer database, whilst also further driving its high levels of customer
retention. This is achieved through its exceptional products, seamless
customer experience and impactful, lifestyle marketing activities all of which
is underpinned by combining innovation with data analysis.

 

Sosandar was founded in 2016 and listed on AIM in 2017. More information is
available at www.sosandar-ir.com (http://www.sosandar-ir.com)

 

Important Notice

The content of this announcement has been prepared by and is the sole
responsibility of the Company.

 

This announcement and the information contained herein is not for release,
publication or distribution, directly or indirectly, in whole or in part, in
or into or from the United States (including its territories and possessions,
any state of the United States and the District of Columbia (the "United
States" or "US")), Australia, Canada, the Republic of South Africa, the
Republic of Ireland, Singapore, Hong Kong or Japan or any other jurisdiction
where to do so might constitute a violation of the relevant laws or
regulations of such jurisdiction.

 

The Retail Offer Shares have not been and will not be registered under the US
Securities Act of 1933, as amended (the "US Securities Act") or under the
applicable state securities laws of the United States and may not be offered
or sold directly or indirectly in or into the United States or to or for the
account or benefit of any US person (within the meaning of Regulation S under
the US Securities Act) (a "US Person"). No public offering of the Retail
Offer Shares is being made in the United States. The Retail Offer Shares are
being offered and sold outside the United States in "offshore transactions",
as defined in, and in compliance with, Regulation S under the US Securities
Act. In addition, the Company has not been, and will not be, registered under
the US Investment Company Act of 1940, as amended.

 

This announcement does not constitute an offer to sell or issue or a
solicitation of an offer to buy or subscribe for Retail Offer Shares in the
United States, Australia, Canada, the Republic of South Africa, the Republic
of Ireland, Singapore, Hong Kong or Japan or any other jurisdiction in which
such offer or solicitation is or may be unlawful. No public offer of the
securities referred to herein is being made in any such jurisdiction.

 

The distribution of this announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

 

Singer Capital Markets Securities Limited ("Singer"), which is authorised and
regulated in the United Kingdom by the FCA is acting solely for the Company
and no-one else in connection with the Retail Offer, Retail Offer Admission
and the transactions and arrangements described in this announcement and will
not regard any other person (whether or not a recipient of this announcement)
as a client in relation to the Retail Offer or the transactions and
arrangements described in this announcement. Singer is not responsible to
anyone other than the Company for providing the protections afforded to
clients of Singer or for providing advice in connection with the contents of
this announcement, the Retail Offer or the transactions and arrangements
described in this announcement.

 

Singer Capital Markets Advisory LLP ("SCM Advisory"), which is authorised and
regulated in the United Kingdom by the FCA, is acting as nominated adviser to
the Company for the purposes of the AIM Rules and no-one else in connection
with the Retail Offer and the transactions and arrangements described in this
announcement and will not be responsible to any other person (whether or not a
recipient of this announcement) as a client in relation to the Retail Offer or
the transactions and arrangements described in this announcement. SCM Advisory
is not responsible to anyone other than the Company for providing the
protections afforded to clients of SCM Advisory or for providing advice in
connection with the contents of this announcement, the Retail Offer or the
transactions and arrangements described in this announcement. SCM Advisory's
responsibilities as the Company's nominated adviser under the AIM Rules for
Nominated Advisers are owed solely to the London Stock Exchange and are not
owed to the Company or to any Director or to any other person.

 

The value of Ordinary Shares and the income from them is not guaranteed and
can fall as well as rise due to stock market movements. When you sell your
investment, you may get back less than you originally invested. Figures refer
to past performance and past performance is not a reliable indicator of future
results. Returns may increase or decrease as a result of currency
fluctuations.

 

The information in this announcement is for background purposes only and does
not purport to be full or complete. None of Singer, SCM Advisory or any of its
affiliates, accepts any responsibility or liability whatsoever for, or makes
any representation or warranty, express or implied, as to this announcement,
including the truth, accuracy or completeness of the information in this
announcement (or whether any information has been omitted from the
announcement) or any other information relating to the Company or associated
companies, whether written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any loss howsoever arising from
any use of the announcement or its contents or otherwise arising in connection
therewith. Singer, SCM Advisory and its affiliates, accordingly disclaim all
and any liability whether arising in tort, contract or otherwise which they
might otherwise be found to have in respect of this announcement or its
contents or otherwise arising in connection therewith.

 

Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into or forms part of this announcement.
The Retail Offer Shares to be issued or sold pursuant to the Retail Offer will
not be admitted to trading on any stock exchange other than the AIM market of
the London Stock Exchange.

 

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