Samarkand Group plc
("Samarkand", the "Company"
or together with its subsidiaries the "Group")
Disposal of Probio7 Brand,
Repayment of Directors Loans
Samarkand Group plc (AQSE:SMK), the
consumer brand owner and cross border eCommerce distribution
services group following its recent trading update, today announces the disposal of its long-established
probiotics brand Probio7.
We are announcing the disposal of
our probiotic brand Probio7, for a total consideration of £1.3m to
be satisfied by initial consideration of £1.1m in cash and deferred
consideration of £0.2m payable in cash, in equal instalments over a
12-month period. The Group acquired Probio7 in December 2017
as a brand primarily distributed offline.
Since acquiring the brand revenues have grown
year-over-year as a result of entering online sales channels,
upgrading the DTC operation and China market
entry.
The disposal of Probio7 enables the
Group to increase resources behind our faster growing brands
Napiers the Herbalists our natural herbal apothecary brand and Zita
West our specialist supplement brand for fertility and reproductive
health.
The disposal of Probio7 gives the
Group additional working capital which is necessary to support the
acquisition of Optimised Energetics Ltd and the ongoing
transformation of the business towards a scale up platform for
niche brands, less defined by and less dependent on sales to China
and the Nomad technology platform. The Group will now repay the
unsecured, unconvertible loans made by the Directors on a bridging
basis to enable the acquisition of Optimised Energetics
Ltd.
David Hampstead, Chief Executive Officer of Samarkand Group,
commented ÒThe disposal of Probio7
demonstrates our track record in acquiring and growing the top and
bottom line in niche health and wellness brands. In tandem with the
recently announced acquisition of Optimised Energetics Ltd this
leaves us with us a better positioned portfolio of high growth,
high potential brands and strengthens the capabilities of our
platform through vertical integration which we consider a source of
competitive advantage in the market for niche brandsÓ.
For
more information, please contact:
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Samarkand Group plc
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Via Alma
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David Hampstead, Chief Executive
Officer
Eva Hang, Chief Financial
Officer
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http://samarkand.global/
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VSA
Capital Ð AQSE Corporate Adviser and
Broker
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+44(0)20 3005 5000
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Andrew Raca, Alex Cabral (Corporate
Finance)
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Alma Strategic Communications
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+44(0)20 3405 0213
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Josh Royston
Robyn Fisher
Joe Pederzolli
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samarkand@almastrategic.com
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Notes to Editors
Samarkand is a consumer brand owner
and distributor operating a scale up platform for niche, premium,
multichannel, health and healing brands. Core owned brands include
Napiers the Herablists, ScotlandÕs oldest natural herbal
apothecary, Zita West, a leading specialist supplement line for
fertility and reproductive health. Platform services include
marketing, sales and channel development with a focus on social
commerce, China market entry, international expansion and
manufacturing. In addition the Group works as the exclusive
China market partner for a select portfolio of niche luxury skin
care brands and connects these brands to the Chinese consumer via
cross border eCommerce, leveraging our Nomad technology
Founded in 2016, Samarkand is
headquartered in Tonbridge, UK with offices in Shanghai.
For further information please
visit https://www.samarkand.global/
END