Last checked at 22 May 2024 07:00
Warpaint London PLC
("Warpaint" or the "Company")
Commencement of Trading on OTCQX in the U.S.
London, May 22, 2024 - Warpaint London plc (AIM: W7L, OTCQX: WPNTF), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, is pleased to announce that its ordinary shares have been approved to trade on the OTCQX® Best Market ("OTCQX") in the United States of America ("United States" or "U.S.") and will commence trading at the market open today under the ticker symbol 'WPNTF'. Warpaint's ordinary shares will continue to trade on the AIM market of the London Stock Exchange.
The Company believes that having its ordinary shares cross-traded on OTCQX will provide enhanced investor benefits, including easier trading access for certain investors located in the United States, and greater liquidity due to a broader geographic pool of potential investors. Through trading on OTCQX, the Company will be able to engage with U.S. investors, data distributors and media partners, ensuring that they have access to the same level of information and disclosure available to investors in the United Kingdom, but through U.S.-facing platforms and portals. In addition, the OTCQX trading facility will provide U.S.-based and other investors with the ability to trade Warpaint's ordinary shares in U.S. dollars during U.S. market hours.
No new ordinary shares will be issued as part of the commencement of trading on OTCQX. Warpaint will continue to make announcements and disclosures to the London Stock Exchange, and will have no Sarbanes-Oxley or SEC public company reporting requirements under the Securities Exchange Act of 1934 in connection with trading on OTCQX.
To qualify for OTCQX, Warpaint has demonstrated that it meets high financial standards and that it complies with applicable securities laws. Carter Ledyard & Milburn LLP, acted as the Company's OTCQX sponsor.
Commenting, Sam Bazini Chief Executive Officer of Warpaint, said:
"We believe that having Warpaint's shares trade on both the AIM and OTCQX markets will serve to increase exposure to a broader range of investors. This new U.S. trading facility comes on the back of an already increased level of interest from U.S. investors given the progress the Company is making with significant retailers in the U.S."
Enquiries:
Warpaint London plc | c/o IFC |
Sam Bazini - Chief Executive Officer Eoin Macleod - Managing Director Neil Rodol - Chief Financial Officer
| |
Shore Capital (Nominated Adviser & Broker) | +44 (0)20 7408 4090 |
Patrick Castle, Daniel Bush - (Corporate Advisory) Fiona Conroy - Corporate Broking | |
| |
IFC Advisory (Financial PR & IR) Tim Metcalfe, Graham Herring, Florence Chandler | +44 (0)20 3934 6630 |
Warpaint London plc
Warpaint sells branded cosmetics under the lead brands of W7 and Technic. W7 is sold in the UK primarily to major retailers and internationally to local distributors or retail chains. The Technic brand is sold in the UK and continental Europe with a significant focus on the gifting market, principally for high street retailers and supermarkets. In addition, Warpaint also sells cosmetics under its other brand names of Man'stuff, Body Collection and Chit Chat, each targeting a different demographic.