Update on Silverwood Brands PLC
21/09/2023 07:10
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RNS Number : 1947N VSA Capital Group PLC 21 September 2023
DATE: 21 September 2023
VSA Capital Group plc
("VSA" or the "Company")
Update on Silverwood Brands PLC
VSA Capital Group plc (Aquis: VSA), the international investment banking and
broking firm notes the share price fall of Silverwood Brands Plc
("Silverwood") yesterday, falling 50% to 30p, now valuing that company at
£77.5m. VSA Capital holds 0.88% of Silverwood's total share capital.
The fall in Silverwood's share price is likely to have a significant effect on
our interim results to 30 September 2023 and a larger than expected loss will
occur. This will be a non-cash loss because investments will be marked to
market at the period end. We are hopeful that the share price will recover
before our year end of 31 March 2024. If it does not, then our full year
audited figures are likely to show a loss for the year due to the non-cash
adjustment despite still having a cautiously optimistic view on our second
half due to transactions we are working on.
VSA remains a supportive shareholder of Silverwood Brands and is subject to a
simple undertaking not to dispose of its shares, for a period of 12 months,
apart from in certain limited circumstances.
VSA Capital also notes that Peterhouse Capital has today been appointed as
Aquis Corporate Adviser to Silverwood.
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 & COO
Alfred Henry - AQSE Corporate Adviser +44 (0)20 3772 0021
Nick Michaels, Maya K. Wassink
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