LCG issues 5 million shares to new brand ambassador Stan Wawrinka

LeapRate Exclusive… LeapRate has learned that UK online trading firm London Capital Group Holdings plc (LON:LCG) has made a regulatory filing indicating that ATP World Tennis #3 player and reigning US Open champion Stan Wawrinka has been issued 5 million LCG shares as part of his association with the company.

We reported earlier this week that LCG had signed Stan Wawrinka to be a Global Brand Ambassador for the company.

LCG will have about 380 million outstanding shares after this transaction (and another unrelated equity issue, see details below), meaning that Wawrinka will own about 1.3% of LCG.

The 5 million shares were valued for the purposes of the agreement at 5p per share, or a total of £250,000. LCG shares are currently trading at about 4p per share.

Mr. Wawrinka was quoted in the filing as saying:

I am overjoyed to have partnered with a globally recognised name like LCG. They have put their full confidence behind me and I’m very excited to work with them as I start this new phase of my career.

LCG also announced the issue of another 2.9 million shares (at current market prices worth £116,000) to Peterhouse Corporate Finance Limited, to settle outstanding fees due from LCG to Peterhouse Corporate Finance Limited.

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