4th Mar 2019 11:54
LONDON (Alliance News) - Two Shields Investments PLC on Monday said it raised GBP500,000 via a placing of shares with existing and new investors.
The firm issued 500.0 million shares at 0.10 pence each with 1 warrant attached exercisable at 0.12p within 12 months. The placing was undertaken by the company's broker, Turner Pope Investments Ltd.
Two Shields shares were trading flat at 0.09p each on Monday, giving a market capitalisation of GBP1.4 million.
The firm expects the new shares to start trading on AIM on March 8, after which it will have 2.1 billion shares in issue.
The company will use the placing proceeds to support the development of current portfolio companies, including USD300,000 to fund further investment in BrandShield, an anti-counterfeiting, anti-phishing and online brand protection solution.
Two Shields currently owns a 8.95% stake in BrandShield. It made a proposal to certain BrandShield investors with a 3.22% interest to acquire those shares for up to GBP349,000 covered by the issue of Two Shields shares.
Two Shields also entered into an option with BrandShield to make a further investment of up to USD500,000 in the firm.
Related Shares:
TSI.L