Sosandar Regulatory News (SOS)

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014

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

Placing to raise £3.0 million

Sosandar PLC (AIM: SOS), the online women's fashion brand, is pleased to announce that it has raised £3.0 million (gross) through a placing arranged by Shore Capital of 9,375,000 new ordinary shares (the "Placing Shares") of 0.1p each in the capital of the Company ("Ordinary Shares") with institutional investors at a price of 32 pence per Placing Share (the "Placing Price") (the "Placing").

Background to and reasons for the Placing

Sosandar was admitted to trading on AIM in November 2017 alongside a placing of new Ordinary Shares at 15.1 pence per Ordinary Share which raised £5.3 million (gross) for the Company. Since that time, the Board believes that the Company has traded strongly and is successfully executing on its stated strategy, which is reflected in the Company's share price performance in recent months.

Accordingly, in order to further drive the Company's development, the Company is undertaking the Placing. The net proceeds of the Placing will be used to support the Company's ongoing growth plans for the business and the execution of its stated strategy. The Placing will also help satisfy institutional demand for the Company's Ordinary Shares.

Further details of the Placing

The Placing is subject, inter alia, to admission of the Placing Shares ("Admission") to trading on the AIM market ("AIM") of London Stock Exchange plc ("London Stock Exchange"), which is expected to occur at 8.00 a.m. on 15 October 2018. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. The Placing Shares will, when issued, rank pari passu in all respects with the Company's existing Ordinary Shares.

In connection with the Placing, Shore Capital and the Company have entered into a placing agreement pursuant to which Shore Capital has agreed conditionally to use its reasonable endeavours to place the Placing Shares at the Placing Price. The Placing (which is not underwritten) is conditional, inter alia, on the Placing Agreement becoming unconditional in all respects and not having been terminated in accordance with its terms and on Admission.

Following Admission of the Placing Shares, the Company's enlarged issued share capital will comprise 116,189,658 Ordinary Shares. The Company has no shares in treasury. This figure of 116,189,658 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 Financial Conduct Authority ("FCA").

Ali Hall and Julie Lavington, Co-CEOs, commented:

"We are delighted to announce that we have successfully raised £3 million following strong institutional investor interest in the Company. The Placing Price is at a very significant premium to our IPO in November 2017 which we believe reflects the significant ongoing progress of the Company and its future prospects. The Company is well positioned to continue its growth and we look forward to the future with confidence."

Enquiries

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 of the Company ("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.