MYSL.L Regulatory News (MYSL)

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 £1.6 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 £12.8 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.

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