THE INFORMATION CONTAINED WITHIN THIS
ANNOUNCEMENT IS DEEMED BY IAMFIRE PLC TO CONSTITUTE INSIDE
INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU)
NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
IamFire plc
AQSE: FIRE
(“FIRE” or the
“Company”)
Extension to
Expiry Date of 158,333,333 Placing Warrants
Extension to
Expiry of Option to Subscribe for up to £3.75m of CLNs in WeShop
Holdings Ltd (“WeShop”)
1. Extension
to Expiry Date of 158,333,333 Placing Warrants
IamFire plc announces that it has extended the expiry date
of the 158,333,333 placing warrants, exercisable at 10
pence per share, that were attached to placing shares,
pursuant to its fundraising announced on 14 December 2021. The
expiry date has been extended from 17 December 2022 until 31
December 2023. The extension covers the period that the Board
believes will reflect the continued rapid expansion of the WeShop
platform and progress towards a listing event on an international
stock exchange.
2. Extension to
Expiry of Option to Subscribe for up to £3.75m of CLNs in WeShop
Holdings Ltd
The Company announced it had secured the right to subscribe for
up to £3.75m of Convertible Loan Notes (“CLNs”) in WeShop on 6 July
2022. The option to subscribe currently expires on 31
December 2022. The Board is pleased to announce that it has
negotiated an extension to this expiry date to 18 May 2023, which coincides with the conversion
date of those CLNs, should the Company decide to convert. So
far, the Company has taken up the right to subscribe for £2m of the
£3.75m CLNs as announced on 29 November
2022, leaving £1.75m of the option outstanding and subject
to the new expiry date.
The Directors of the Company, who have issued this announcement
after due and careful enquiry, accept responsibility for its
content.
REGULATORY ANNOUNCEMENT ENDS
Enquiries:
Company:
info@iamfireplc.com
Peterhouse Capital Limited
Corporate Advisor:
Guy Miller: + 44 (0) 20 7469 0930
(Direct)
Corporate Broker
Lucy Williams: +44 (0) 20 7469
0930
Duncan Vasey: +44 (0) 20 7220 9797
(Direct)
About WeShop:
WeShop is a social commerce platform that allows users to shop
and help each other by reviewing, asking about or recommending
products. It is affiliated to the vast majority of the UK’s top
1,000 online retailers. Instead of rewarding the users with
cashback, discount codes or vouchers, WeShop allows users to earn
shares in the business.
WeShop intends to be 90% owned by its community of users, so the
more users shop, recommend and refer friends the more shares they
will own in WeShop and the more they will share in its financial
success. Users of WeShop buy products from retailers through
the platform as they would normally but in doing so they will earn
shares in WeShop and benefit from aggregation as a community and
the revenue streams generated from affiliate programs, data,
promotion and advertising that the community through WeShop will
generate.
WeShop intends to be the first truly shoppable social network owned
by its community of users. By creating a disruptive online
model it hopes to create a retail revolution which shares the
financial success of online businesses with the users of those
online businesses whose data, transactions and engagement has
created them in the first place.