Goldshield Grp PLC - Acquisition
May 26 1999 - 3:35AM
UK Regulatory
RNS No 8366r
GOLDSHIELD GROUP PLC
26 May 1999
GOLDSHIELD GROUP PLC
Acquisition of Regina Health Limited & Regina UK Limited
Goldshield Group plc announces that on 25 May 1999 it
entered into a conditional agreement with Regina plc, a
company listed on the London Stock Exchange, to purchase the
entire issued share capital of certain subsidiary companies,
namely Regina Health Ltd and Regina UK Ltd. The agreement is
conditional upon the approval of Regina plc shareholders at
a general meeting.
The consideration is #2.2 million payable in cash of which
#500K is deferred over a period of one year. This is subject
to a maximum adjustment of #150K dependent upon the net
value of stocks, trade debtors and trade creditors of the
two companies at completion.
Regina Health Ltd, the principal trading subsidiary of
Regina plc, markets and distributes a range of premium Royal
Jelly food supplements world-wide. Regina UK Ltd is a
dormant company.
Regina Health Ltd achieved sales of just over #1 million in
the year ended 31 August 1998. This acquisition represents
an excellent opportunity to access the premium branded
market both in the UK and internationally. Customers in the
UK include Harrods, Selfridges and Boots.
In addition new distribution channels will become available
with the potential of developing new innovative products and
line extensions to the highly regarded Regina brand.
Ajit Patel, Chairman and Chief Executive of Goldshield Group
said.
"This acquisition gives us a premium brand both in
international markets and the UK, where it is sold in
Harrods, Selfridges and Boots. It is a strategic opportunity
to develop new products and line extensions within the
Regina brand, gaining an entry into the premium branded
market internationally."
For further information please contact:
Buchanan Communications 0171 466 5000
Andy Yeo/Tom Gadsby
Goldshield Group plc will be announcing Preliminary results for
year ended 31 March 1999 in early July.
END
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