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HOME / KNOWLEDGE / Jeffreys Henry LLP advise Sosandar on £16.1 million reverse takeover

Jeffreys Henry LLP advise Sosandar on £16.1 million reverse takeover

Jeffreys Henry LLP, a more cost-effective Auditor to AIM listed companies, has recently advised online women’s fashion brand Thread 35 Ltd (trading as “Sosandar”) on its £16.1 million reverse takeover of AIM listed cash shell Orogen Plc and subsequent AIM re-admission.

Sosandar was launched last year by former Look magazine editor and publisher Ali Hall and Julie Lavington, with the aim of curating a “one-stop shop for the affluent, professional woman who has graduated from price-led alternatives”. The womenswear brand has completed two seed investment rounds to fund the design of the initial Sosandar fashion range from scratch, to build the ‘mobile-first’ website and develop a scalable supply chain including overseas manufacturers and UK based logistics suppliers.

Orogen Plc, an AIM listed cash shell, has raised £5.3m (before expenses) through a conditional placing of 35,099,338 new Ordinary Shares at 15.1 pence per share, which will be used to finance the development of Sosandar and for working capital.

The enlarged group, to be named Sosandar Plc, is expected to be re-admitted to AIM on November 2, subject to shareholder agreement.

Jeffreys Henry LLP acted as the Reporting Accountant in respect of the Reverse Takeover and subsequent AIM re-admission.

Bhimal Hira
Bhimal Hira

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Jeffreys Henry LLP is a Limited Liability Partnership registered in England and Wales with registered number OC306971. Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C001108797. VAT Registration Number 243307782. A list of Partners is available for inspection at the below address. Jeffreys Henry Audit Limited is registered in England and Wales with Company number 13172931. Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C008924259. VAT number 374306694. A list of Directors (who we also refer to as Partners) is available for inspection at the below address. Jeffreys Henry Business Services Limited is registered in England and Wales with Company number 13128469. VAT number 369869417. A list of Directors (who we also refer to as Partners) is available for inspection at the below address. Each entity’s registered office is at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.
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