5th Nov 2019 14:51
(Alliance News) - Two Shields Investments PLC on Tuesday said it has completed its proposed investment of USD500,000 in BrandShield Ltd.
The AIM-listed company also noted that it has the right to invest a further USD1.0 million on the same terms within nine months of last Monday.
The investment has been made by way of subscription to a convertible loan note in which Two Shields has already invested USD300,000. The loan note has been extended to allow this further investment of USD500,000.
Two Shields currently has an 11% holding in BrandShield in addition to the loan note subscriptions. Should loan notes convert into equity, its holding in BrandShield will increase to 16%, rising to almost 22% in the event of the company exercising its further USD1 million option.
"The board is delighted to have been able to reinforce the investment in BrandShield following our recent fundraise. We see BrandShield as a pivotal value driver in the Two Shields portfolio and we very much look forward to assisting it reach its full potential," said Two Shields Chair Andrew Lawley.
Two Shields shares were trading 7.1% lower on Tuesday in London at 0.13 pence each.
By Evelina Grecenko; [email protected]
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