Corporate Update
27/07/2023 07:00
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RNS Number : 3342H VSA Capital Group PLC 27 July 2023
VSA Capital Group plc
("VSA" or the "Company")
Corporate update
VSA Capital Group plc (Aquis: VSA), the international investment banking and
broking firm notes the announcement by Silverwood Brands plc (Aquis: SLWD)
("Silverwood") this morning concerning the service of proceedings by Lush
Cosmetics ("Lush") against Silverwood in connection with its acquisition of
approximately 20% of shares in Lush. VSA currently has a shareholding of
approximately 0.85% of Silverwood's shares. VSA believes that this does not
significantly change the position of Silverwood and thus also VSA. VSA
continues to believe that Silverwood's acquisition of Lush was undertaken in
accordance with Lush's articles and that consequently Silverwood has
significant value upside.
We are pleased to report that VSA had a better than expected first quarter
(April to June 2023). As stated in the outlook statement of the full year
results in June, we still expect to show an operating loss for the first half
to 30 September 2023 but are cautiously optimistic about the full year results
to March 2024, driven by a significant increase in M&A and strategic
advisory work.
For more information, please contact:
VSA Capital Group plc +44(0)20 3005 5000
Andrew Monk, CEO
Andrew Raca, Head of Corporate Finance
Marcia Manarin, Finance Director
Alfred Henry - AQSE Corporate Adviser +44 (0)20 3772 0021
Nick Michaels, Maya K. Wassink
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