24th Apr 2019 11:49
LONDON (Alliance News) - Two Shields Investments PLC on Wednesday said it has completed a share swap with certain holders of equity in BrandShield Ltd, which provides a brand protection solution to online threat hunting.
Prior to the share swap Two Shields held 9.0% holding in BrandShield.
In March, the AIM-listed investment company announced its intention to acquire a further 3.2% stake in BrandShield from existing shareholders through the issuance of Two Shields shares at a price of 0.1 pence each.
On Wednesday, the company agreed to acquire 2.4% interest in BrandShield for a total consideration of GBP258,422. As a result, Two Shields issue 258.4 million shares and now holds 11.3% interest in BrandShield.
The BrandShield's vendors participating in the share swap have agreed that their Two Shields shares will be subject to a six-month lock-in, the company said.
"The completion of this share swap in BrandShield is a further demonstration of our belief that BrandShield is a key value driver within the TwoShields portfolio," said Two Shields Chair Andrew Lawley.
"We look forward to continuing to advise BrandShield on its strategic growth opportunities," added Lawley.
Two Shields shares were trading 8.0% lower on Wednesday at 0.11 pence each.
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