TIDMTSI
RNS Number : 8834S
Two Shields Investments PLC
11 November 2019
Two Shields Investments plc
("TSI", "Two Shields" or the "Company")
Investment into WeShop
Issue of Equity and Total Voting Rights
Two Shields Investments plc, the AIM-quoted investment company
with a strategy to build a high-quality portfolio of investments in
fast growing and scalable digital and technology enabled
businesses, is pleased to announce that, further to the
announcement of 29 October 2019, it has completed its investment of
GBP400,000 in WeShop Limited ("WeShop").
The investment has been made by way of equity subscription for
66,890 ordinary shares in WeShop for a total consideration of
GBP400,002.20. TSI now holds 7.57% of WeShop.
James Sowerby, CEO of WeShop said, "I'm delighted that TSI is
continuing to support the business and share our confidence in the
opportunity that social commerce and WeShop represent. As a market,
social commerce is really heating up, as consumers increasingly
seek authentic product recommendations from people they know and
trust, and that are easily shopped from a large choice of
merchants. The timing is perfect for WeShop to take advantage of
this opportunity, so we're really excited about our plans that are
taking shape for 2020."
WeShop
WeShop is an innovative, digital social network platform focused
on the rapidly growing and highly valuable social e-commerce sector
forecast to become a US$350 billion market over the mid-term.
WeShop's digital platform enhances online shopping experiences by
combining social media's assets of reviews, likes, and shares with
an engaging retail e-commerce offering, specifically tailored to
the individual user. Users benefit from gaining access to thousands
of brands and millions of products on one platform plus a two-way
sharing of ideas with friends to participate in a rewards system;
brands/retailers benefit from increased sales and awareness.
WeShop is led by a highly experienced and proven technology and
retail professionals. James Sowerby CEO, previously led Global New
Business Development at Avon Cosmetics, the oldest and one of the
most successful global social selling networks, and non-executive
Chairman Matthew Hammond, who is Group Managing Director and CFO of
mail.ru, one of the largest internet companies in the Russian
speaking market.
TSI announced on 9 July 2019 the WeShop investor update and the
Board feels it is in the interests of TSI shareholders to continue
to support this exciting business as it approaches what we believe
will be a highly expansive period.
WeShop has also launched phase 1 of its new rewards programme,
designed to drive ongoing engagement and retention of users by
enabling them to earn WeCoins(TM) for creation and distribution of
quality content, shopping through WeShop verified merchants, and
browsing. The WeCoins(TM) can be redeemed with over 100+ redemption
partners, including Uber, Spotify, Just Eat, Amazon, Starbucks and
many others. Phase 1 allows users to redeem their WeCoins(TM) for a
digital voucher. Phase 2 will allow users to redeem their live
WeCoin(TM) balance against products on WeShop, in combination with
cash. This creates a true ecosystem where WeCoins(TM) are earned
and redeemed within the platform.
WeShop's latest accounts showed assets of GBP89,991 as at 30
June 2018 and a loss of GBP1,880,792 for the period June 2017 to
June 2018*.
Corporate Broking Re-appointment and Issue of Shares for
Services
Turner Pope Investments Limited ("Turner Pope") has been
re-appointed as the Company's broker, following the fundraise
announced on 29 October 2019. Turner Pope has agreed to take 50% of
its annual brokerage fee in TSI shares at the Placing Price of the
that fundraise of 0.1p, equating to 16,250,000 ordinary shares (the
'Service Shares'). These shares were allotted on 10 November
2019.
Admission and Total Voting Rights
Application will be made for the admission of the new Ordinary
Shares (Service Shares) to trading on AIM ("Admission"), with
Admission expected to be take place on or around 14 November
2019.
Following Admission, the Company's issued share capital will
compromise 4,461,422,896 Ordinary Shares, each with voting rights.
The above figure of 4,461,422,896 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the Disclosure Guidance and Transparency
Rules.
Andrew Lawley, Chairman of TSI said,
"The Board is pleased to have been able to increase our holding
in WeShop as it progresses through a highly exciting period of
execution and user growth. The team has made excellent progress
over recent months delivering important milestones in respect of
branding, functionality and user experience on the platform, in
particularly the market leading breadth of product listing. This,
and the launch of the WeCoin and loyalty reward programme,
positions the business well as it focuses on user acquisition and
exploring wider partner opportunities."
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (eu) 596/2014
-Ends-
For further information please visit https://twoshields.co.uk/
or contact:
Two Shields Investments +44 (0)20 3143
Andrew Lawley plc 8300
Spark Advisory Partners
Limited +44 (0) 20 3368
Neil Baldwin / Andrew Emmott (Nominated Adviser) 3554
Turner Pope Investments
Ltd +44 (0) 20 3657
Andy Thacker / Zoe Alexander (Broker) 0050
Notes to Editors:
Two Shields Investments plc, the AIM-quoted investment company
with a strategy to build a portfolio of high-quality investments in
fast growing, scalable digital and technology enabled businesses,
including those in the cyber security, e-commerce services and
consumer sectors. The Company has appointed an experienced Board of
Directors with a proven pedigree in the origination, acquisition,
development & sale of projects and creating value for
shareholders. The investment mandate covers unquoted and quoted
businesses, as well as direct project investment. Where appropriate
the Board will apply its extensive combined experience to directly
support investee businesses achieve their growth potential.
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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November 11, 2019 02:00 ET (07:00 GMT)
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