Brief: WeCommerce Signs Definitive Agreement To Combine With Tiny

Tiny

23/01/2023 12:17

Jan 23 (Reuters) - WeCommerce Holdings Ltd  WE.V :
    * WECOMMERCE SIGNS DEFINITIVE AGREEMENT TO COMBINE WITH TINY
    * WECOMMERCE SIGNS DEFINITIVE AGREEMENT TO COMBINE WITH TINY
    * WECOMMERCE - TINY, AFTER DEAL , WILL CONSIST OF THREE CORE
OPERATING SEGMENTS AND SEVERAL STANDALONE BUSINESSES
    * WECOMMERCE - PURSUANT TO DEAL, WECOMMERCE TO ISSUE
APPROXIMATELY
146.4 MILLION SHARES TO FORMER SHAREHOLDERS OF TINY AND ITS
AFFILIATE S
    * WECOMMERCE - CURRENT WECOMMERCE SHAREHOLDERS WILL OWN
24.1% OF
POST-COMBINATION COMPANY
    * WECOMMERCE - TINY CO-FOUNDERS ANDREW WILKINSON AND CHRIS
SPARLING WILL SERVE AS CO-CEOS OF NEWLY MERGED COMPANY AND WILL
OWN 71% AND 10%, RESPECTIVELY
    * WECOMMERCE HOLDINGS - WECOMMERCE'S CURRENT CFO DAVID
CHARRON
WILL CONTINUE AS CFO & AMPERE CHAN, TINY'S CURRENT CFO, WILL
SERVE AS PRESIDENT OF CO

Source text for Eikon:  ID:nCNW6Jrg7a 
Further company coverage:  WE.V 
 ((Reuters.Briefs@thomsonreuters.com;))