Result of GM & Director/PDMR transactions

RNS Number : 7317E

Sosandar PLC

02 March 2020

 

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

and

Director/PDMR transactions

Sosandar PLC (AIM: SOS), the online women's fashion brand, is pleased to announce that, further to the Company's announcement on 12 February 2020 in relation to a Placing to raise gross proceeds of £5 million 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 29,411,764 Placing Shares to be admitted to trading on AIM. Admission will become effective and dealings in the Placing Shares will commence on AIM on 4 March 2020.

Following Admission of the Placing Shares, the Company's enlarged issued share capital will comprise 192,268,122 Ordinary Shares. The Company has no shares in treasury. This figure of 192,268,122 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 13 February 2020 in connection with the Placing.

Director/PDMR transactions

The Company also confirms that Adam Reynolds, Non-Executive Director and James Bowling, Head of Finance both participated in the Placing and purchased 470,588 Placing Shares and 17,647 Placing Shares respectively. 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail   of these purchases.  

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Adam Reynolds
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sosandar plc
b)	LEI	2138004313MO7RXAVA37
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares in Sosandar plc GB00BDGS8G04
b)	Nature of the transaction	Purchase of new Ordinary Shares pursuant to the Placing
c)	Price(s) and volume(s)	Price(s) Volume(s) 17 pence 470,588 shares
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction
e)	Date of the transaction	2 March 2020 (Trade date for the Placing)
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Bowling
2	Reason for the notification
a)	Position/status	Head of Finance
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sosandar plc
b)	LEI	2138004313MO7RXAVA37
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares in Sosandar plc GB00BDGS8G04
b)	Nature of the transaction	Purchase of new Ordinary Shares pursuant to the Placing
c)	Price(s) and volume(s)	Price(s) Volume(s) 17 pence 17,647 shares
d)	Aggregated information - Aggregated volume - Price	N/A - Single transaction
e)	Date of the transaction	2 March 2020 (Trade date for the Placing)
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

Enquiries

Sosandar plc	www.sosandar.com
Julie Lavington / Ali Hall, Joint CEOs	c/o Alma PR
Shore Capital Patrick Castle / Mark Percy / James Thomas	[phone]
Alma PR Limited (Financial PR)	[phone]
Rebecca Sanders-Hewett / Susie Hudson / Sam Modlin	[e-mail]

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.

 

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