Location Sciences completes reverse takeover of Sorted Group, share subscription and consolidation, change of name to Sorted Group Holdings and admission to AIM
February 2024
Location Sciences was previously an AIM listed pre-eminent global location verification provider to the $160 billion digital advertising industry. Working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns.
The digital advertising market-place remains unregulated and un-monitored, with an estimated $19 billion wasted on ad-fraud in 2018. Location Sciences has developed Verify, the world’s first independent location verification product. Utilising sophisticated machine learning and pattern recognition technologies, Verify detects location ad-fraud and shines a light on location data inaccuracy with the aim of bringing back integrity, transparency and trust to the market place.
Sorted Group is a provider of delivery experience software which serves ecommerce retailers – from large, global enterprises to smaller, independent start-ups. The Sorted Delivery Experience Platform has three core propositions comprising:
- Ship – carrier management, carrier allocation and ecommerce checkout optimisation
- Track – post-purchase parcel tracking and customer communications
- Return – refunds and exchanges management
Reverse takeover, share subscription and consolidation, change of name and admission to AIM
On 28 June 2023 Location Sciences announced that it has entered into exclusive non-binding heads of terms regarding a potential acquisition of the entire issued share capital of Sorted.
The admission became effective and dealings in the Enlarged Issued Share capital commenced on AIM on 19th February 2024, by way of a Subscription of 2,285,712 New Ordinary Shares at 87.50P per share, and the Company was renamed Sorted Group Holdings PLC.
The Perivan shareholder communications team was delighted to work with Allenby Capital acted as Nominated Adviser on the production of the 149-page Admission Document which was successfully completed and published on 30 January 2024.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to corporate finance transactions.
