THE
INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY WECAP
PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC
DOMAIN.
WeCap
plc
AQSE:
WCAP
("WeCap" or the
"Company")
CORRECTION TO ANNOUNCEMENT ON
31 OCTOBER 2024 RE STATEMENT IN
CHAIRMAN'S STATEMENT OF FINAL RESULTS TO 30
APRIL 2024
The Company notes that in the
announcement of 31 October 2024,
there is reference to a potential 11% ownership of WeShop Holdings
Limited (WeShop) by WeCap, through an enlarged ownership of
3,208,333WeShop shares.
The Company corrects this
statement that on an enlarged ownership basis, WeCap will own
5,163,333 shares representing approximately 16% of WeShop, in the
event that all the Convertible Loan Notes ("CLNs") referred to in
the table, convert and Community Social
Investment Limited ("CSIL") conducts a distribution
in specie of its WeShop shares. The corrected exposure in WeShop is
set out below:
|
Instrument |
Conversion
Price |
Conversion
Date |
Notes |
|
£4m CLN in
WeShop |
£3 per share in
WeShop |
Any point up to 24 November
2024 |
Converts in to 1,333,333 shares
in WeShop |
|
£3.75m CLN in
WeShop |
£2 per share in
WeShop |
Any point up to 24 November
2024 |
Converts in to 1,875,000 shares
in WeShop. |
|
23.5% equity shareholding in
CSIL |
N/A |
N/A |
CSIL's sole asset is 8,333,333
shares in WeShop Holdings Ltd. |
There are currently 28,729,636 shares in issue in
WeShop. Should all the CLNs referred to in the table convert
and CSIL conducts a distribution in specie of its WeShop shares
then WeCap would hold approximately 5,163,333 shares in WeShop
representing approximately 16% of the enlarged WeShop shares, prior
to any other share
issuance.
The Directors of the Company,
who have issued this RIS announcement after due and careful
enquiry, accept responsibility for its
content.
REGULATORY ANNOUNCEMENT
ENDS
Enquiries:
Company:
info@WeCapplc.com
Peterhouse Capital
Limited
Corporate
Advisor:
+ 44 (0) 20 7220
9795 (Direct)
Tennyson Securities
Limited
Corporate
Broker:
Peter
Krens: +44 (0) 20 7186 9033
(Direct)