Warpaint London
PLC
("Warpaint" or the "Company")
Commencement of Trading on
OTCQX in the U.S.
London, May 22, 2024 - Warpaint
London plc (AIM: W7L, OTCQX: WPNTF), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands, is pleased
to announce that its ordinary shares have been approved to trade on
the OTCQX® Best Market ("OTCQX") in the United States of America
("United States" or "U.S.") and will commence trading at the market
open today under the ticker symbol 'WPNTF'. Warpaint's ordinary
shares will continue to trade on the AIM market of the London Stock
Exchange.
The Company believes that having its
ordinary shares cross-traded on OTCQX will provide enhanced
investor benefits, including easier trading access for certain
investors located in the United States, and greater liquidity due
to a broader geographic pool of potential investors. Through
trading on OTCQX, the Company will be able to engage with U.S.
investors, data distributors and media partners, ensuring that they
have access to the same level of information and disclosure
available to investors in the United Kingdom, but through
U.S.-facing platforms and portals. In addition, the OTCQX trading
facility will provide U.S.-based and other investors with the
ability to trade Warpaint's ordinary shares in U.S. dollars during
U.S. market hours.
No new ordinary shares will be
issued as part of the commencement of trading on OTCQX. Warpaint
will continue to make announcements and disclosures to the London
Stock Exchange, and will have no Sarbanes-Oxley or SEC
public company reporting
requirements under the Securities Exchange Act of 1934 in
connection with trading on OTCQX.
To qualify for OTCQX,
Warpaint has demonstrated
that it meets high financial standards and that it complies with
applicable securities laws. Carter Ledyard
& Milburn LLP, acted as the Company's
OTCQX sponsor.
Commenting, Sam Bazini Chief Executive Officer of Warpaint,
said:
"We believe that having Warpaint's shares trade on both the
AIM and OTCQX markets will serve to increase exposure to a broader
range of investors. This new U.S. trading facility comes on the
back of an already increased level of interest from U.S. investors
given the progress the Company is making with significant retailers
in the U.S."
Enquiries:
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Warpaint London plc
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c/o IFC
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Sam Bazini - Chief Executive
Officer
Eoin Macleod - Managing
Director
Neil Rodol - Chief Financial
Officer
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Shore Capital (Nominated Adviser &
Broker)
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+44 (0)20 7408 4090
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Patrick Castle, Daniel Bush -
(Corporate Advisory)
Fiona Conroy - Corporate
Broking
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IFC
Advisory (Financial PR & IR)
Tim Metcalfe, Graham Herring,
Florence Chandler
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+44 (0)20 3934 6630
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Warpaint London plc
Warpaint sells branded cosmetics
under the lead brands of W7 and Technic. W7 is sold in the UK
primarily to major retailers and internationally to local
distributors or retail chains. The Technic brand is sold in the UK
and continental Europe with a significant focus on the gifting
market, principally for high street retailers and supermarkets. In
addition, Warpaint also sells cosmetics under its other brand names
of Man'stuff, Body Collection and Chit Chat, each targeting a
different demographic.