MySale Group PLC Result of Open Offer (8809M)
September 19 2019 - 1:01AM
UK Regulatory
TIDMMYSL
RNS Number : 8809M
MySale Group PLC
19 September 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA,
AUSTRALIA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
19 September 2019
MySale Group plc
(the "Company", "MySale" or the "Group")
Result of Open Offer
MySale (AIM: MYSL), a leading international online retailer is
pleased to announce that further to the announcement of the Open
Offer on 2 September 2019, it has conditionally raised total gross
proceeds of approximately GBP1.6 million via the Open Offer.
The Open Offer closed for receipt of applications at 11.00 a.m.
on 18 September 2019 and the Company is pleased to confirm that it
received valid applications from Qualifying Shareholders in respect
of 79,860,619 Open Offer Shares. This represents take-up of
approximately 77.6 per cent. of the Open Offer Shares available
under the Open Offer.
Qualifying Shareholders who have validly applied for Open Offer
Shares will receive their full Basic Entitlement. Applications for
Excess Shares under the Excess Application Facility will be
satisfied in full.
Application has been made to the London Stock Exchange for the
new Ordinary Shares to be admitted to trading on AIM and it is
expected that Admission will become effective and that dealings in
the new Ordinary Shares will commence at 8.00 a.m. on 20 September
2019.
Following Admission, the Company will have 794,707,735 Ordinary
Shares in issue. There are no Ordinary Shares held in treasury.
With effect from Admission, 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.
Carl Jackson, CEO of MySale commented
"Having now completed our Placing and Open Offer, raising total
gross proceeds of approximately GBP12.8 million, and undertaken a
significant operational reorganisation, the Group now has a
fundamentally different structure, operating on a debt free basis
and with a strengthened platform from which we can focus on the
acceleration of our 'ANZ First' strategy.
Concentrating on Australia and New Zealand, we have scalable and
proprietary technology which can effectively support our retail
marketplace platform which provides a compelling sales channel for
domestic and international brands, particularly through its
counter-seasonal and clearance solutions.
With a strong line-up of brand partners and a skilful and
dedicated team, we believe that the future offers significant
opportunities for the recapitalised Group.
We could not have reached this point without the significant
support shown by our shareholders and other stakeholders, for which
we are grateful and we look forward to delivering value going
forwards."
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular sent to shareholders of the Company on 20 May 2019.
Enquiries:
MySale Group plc
Carl Jackson, Chief Executive Officer +61 (0) 414 817 843
Graeme Burns, Investor Relations +44 (0) 777 585 4516
N+1 Singer (Nominated Adviser and Broker) +44 (0) 20 7496 3000
Mark Taylor
Justin McKeegan
MHP Communications (Financial PR Adviser) +44 (0) 20 3128 8570
Simon Hockridge
Giles Robinson
Pete Lambie
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END
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