1st Apr 2019 10:39
LONDON (Alliance News) - Two Shields Investments PLC on Monday said it has assembled a new senior team to identify investment opportunities following a review of the business.
Two Shields did not name the new members of its team.
"The team will seek to apply its extensive and highly complementary expertise and knowledge to identifying, assessing and executing investment opportunities that have the potential to deliver attractive returns to shareholders," Two Shields said.
Director Christian Schaffalitzky has decided to step down Two Shields with immediate effect to focus on other business opportunities. Schaffalitzky has agreed to provide consultant services to the company.
Two Shields believes there are "limited opportunities" within the mining sector, and it is now mulling selling mining assets. It is also "unlikely" to complete a cash investment in mining exploration.
However, the company said it "sees considerable value opportunity" in focusing on the existing high growth investments within the portfolio, and will therefore seek to increase its exposure to BrandShield Ltd, an anti-counterfeiting, anti-phishing and online brand protection firm, and WeShop Ltd, a social commerce platform offering a new way to shop online and earn rewards.
Two Shields currently owns a 9.0% stake in BrandShield following a USD300,000 investment. It has also invested a further USD100,000 in WeShop taking its holding to 1.7% from 1.2%.
Two Shields shares were trading 3.7% lower at 0.10 pence each on Monday.
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