VSA Capital Group PLC Corporate Update (3342H)
July 27 2023 - 2:00AM
UK Regulatory
TIDMVSA
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:
+44(0)20 3005
VSA Capital Group plc 5000
Andrew Monk, CEO
Andrew Raca, Head of Corporate Finance
Marcia Manarin, Finance Director
+44 (0)20 3772
Alfred Henry - AQSE Corporate Adviser 0021
Nick Michaels, Maya K. Wassink
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