Castelnau Group Ltd Silverwood Brands Plc. Loan Conversion
May 31 2023 - 11:53AM
UK Regulatory
TIDMCGL
31 May 2023
Castelnau Group Limited
("Castelnau" or "The Company")
Silverwood Brands Plc. Loan Conversion
Castelnau Group Limited, is pleased to announce that it has agreed to convert
its convertible loan to Silverwood Brands PLC ("Silverwood") into equity in
Silverwood. The total principal amount of the facility, excluding accrued
interest, is £1.5mn and the conversion price is 70 pence per ordinary share.
Following conversion, Castelnau will own approximately 1.8% of the equity in
Silverwood. Silverwood equity accounts for approximately 1.5% of the net asset
value of the Company.
Silverwood is an investment vehicle focused on premium consumer brands which
have an existing presence in the beauty sector. The purpose of the loan, which
was issued in December 2022, was to provide additional working capital funding
to Silverwood as it completed two acquisitions.
Graham Shircore, CEO of Castelnau at Phoenix Asset Management Partners, said:
"Our decision to proactively convert this facility is indicative of our
continued confidence in the progress which the Silverwood team are making. We
look forward to working with them further as they continue to grow the
business."
Further information on the Company can be found on its website
at www.castelnaugroup.com
Castelnau Group
Graham Shircore
info@castelnaugroup.com
Liberum Capital Limited
+44 (0) 20 3100 2000
Darren Vickers/Owen Matthews/Will King
Citigate Dewe Rogerson
+44 (0) 20 7638 9571
Caroline Merrell/Toby Moore/Sheena Munsami
This information was brought to you by Cision http://news.cision.com
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