DOCASA, Inc. (OTC PINK: DCSA): Announces New Ticker Symbol; Completion of Acquisition of Department of Coffee & Social Affairs, Based in the United Kingdom, and New Board of Directors and Officers
SCHAUMBURG, Ill., Oct. 5, 2016 /PRNewswire/ -- DOCASA, Inc. (OTC PINK: DCSA), announces the change of its ticker symbol to DCSA; completion of the acquisition on September 1, 2016 of 99.8% of the outstanding capital of the Department of Coffee and Social Affairs Limited, an established, growing, award-winning and market-leading, UK specialty coffee shop and online retail business headquartered in London, England; and the appointment of new board of directors and officers.
The acquisition of the Department of Coffee and Social Affairs Limited was completed via an issue of 110 million shares of common stock of DOCASA representing 74.9% of the outstanding capital of the Company. Following the issuing of new stock, DOCASA has 146.8 million shares of common stock outstanding.
DOCASA, as previously filed in its Form 8-K, announces the appointment to its Board of Directors of Stefan Allesch-Taylor CBE, Chairman, and Matthew Gill, Vice-Chairman. The Board of Directors has appointed Ashley Lopez as President & CEO and Kazi Shahid as CFO.
Stefan Allesch-Taylor CBE, 47, is a London-based financier with over 25 years' specialist experience of business startups, turnarounds and public companies. Mr. Allesch-Taylor is currently the Deputy Chairman of Action Hotels PLC; co-founder and Supervisory Board Member of asset manager Global Evolution A/S; non-executive director of private equity firm Clearbrook Partners LLP and the non-executive director of specialist sports financier International Stadia Group Ltd.
Mr. Allesch-Taylor is authorized and regulated by the United Kingdom Financial Conduct Authority; he is regulated by the Danish Financial Services Authority; and is also approved as a 'controller' of a German deposit-taking bank by the Bundesbank, BaFin and Germany's Deposit Protection Fund. In 2014, Mr. Allesch-Taylor was appointed a Commander of the Order of the British Empire in Her Majesty The Queen's New Year's Honors' List.
Matthew Gill, 44, has served in executive positions for numerous organizations; both privately held and publicly listed, particularly in the food retail and financial services sectors. Mr. Gill serves as director of a number of UK and internationally based charities and humanitarian organizations. Mr. Gill holds a BSc in Business Administration from Coventry University (England).
Ashley Lopez, 29, a Chicago native, was originally appointed as a Director of Department of Coffee & Social Affairs Ltd in March 2012, then Chief Operating Officer in March 2013 and, in January 2015, was appointed as its Chief Executive Officer. Ms. Lopez is on the board of Business for Social Progress, established by The Institute for Global Prosperity, University College London, a global top ten university. Ms. Lopez holds a BA in Law from Winona State University, an MSc in Law & Finance from Queen Mary University (London) and a Masters in Management from the University of Westminster (London).
Kazi Shahid, 43, has over 20 years' experience in private equity, asset management and investment banking. He was an Associate Chartered Accountant (ACA) at Arthur Anderson and then joined the Capital Markets Company where he consulted for financial institutions in New York, Abu Dhabi, Luxembourg and London. He was most recently CFO/COO for Clearbrook Capital Partners LLP's investment division in Luxembourg. Mr. Shahid became a Fellow Chartered Accountant (FCA) in April 2009; he holds a BSc in Law and Accounting from Kingston University (England) and is authorized and regulated by the United Kingdom Financial Conduct Authority.
DOCASA's Chairman, Stefan Allesch-Taylor CBE, commented "We are delighted that the Department of Coffee and Social Affairs will benefit from exposure to the capital markets in the United States. The UK coffee market is currently valued at around $10 billion a year and this is expected to rise to over $20 billion a year by 2025. We are at the forefront of the specialty 'third wave' coffee retail revolution in a sector that's proven to be extremely resilient against recession, with coffee rapidly becoming considered in the UK as an everyday 'essential'."
About DOCASA, Inc.
DOCASA, Inc. is focused on investment in the rapidly growing specialty coffee market, principally in the United Kingdom. Through its subsidiary, Department of Coffee and Social Affairs Ltd., headquartered in London, England, it has established and is growing an award-winning, market-leading, UK specialty coffee shop and online retail business. DOCASA also continues to review opportunities in the broader international coffee market.
For additional information, please contact:
Tel: +44 (0) 20 7287 4176
Cell: +44 (0) 7765 983104
Forward looking statement:
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE DOCASA, Inc.