Fri, 26 May 2017 | BUSINESS SALE
An AIM-listed company has agreed sale terms with Thread 35, an e-commerce brand targeting 35-55 year old women under the brand name Sosandar.
The company said the acquisition would constitute a reverse transaction under the AIM Rules.
Cash Shell Orogen, which has been featured in the Sunday Times, Style magazine, Cosmopolitan and Loose Women, has made a secured, interest-free loan of £250,000 to Thread as part of the proposed transaction. The loan may be drawn down in two tranches; the first one of £100,000 may be drawn down immediately while the second may only be drawn down on the condition that letters of intent are obtained from Thread's shareholders to accept the terms of an offer to acquire their shares.
As a result of the heads of terms, the company confirmed it requested that trading in its shares is temporarily suspended, pending either the publication of an admission document or until the proposed acquisition negotiations are terminated.
Chairman of Orogen, Adam Reynolds, said: "I am delighted that Orogen has found an attractive acquisition opportunity so quickly.
"Sosandar is operating in a market that is showing significant growth and it has a highly motivated and experienced management team. With added balance-sheet strength I believe we will be able to accelerate this growth opportunity, benefiting all shareholders in the enlarged group."
Find retail businesses for sale.
Subscribe to the Business Sale Report.
The business for sale is a highly contemporary bar and bistro serving an array of high quality, locally sourced and freshly prepared food and drinks with a great environment. Great reputation in the area for food and live music. Has built up a reliab...
LEASEHOLD
Leading cleaning company in area. High-quality contracts and clientele. All equipment included in the sale. Well-established. Company has an excellent retention rate with a valuable team of staff. Huge scope for growth. The business is now for sale o...
LEASEHOLD
This is an excellent opportunity for an interested and committed buyer to take on a highly reputable e-commerce business which specialises in strapping and other fastening equipment. Excellent online reputation. Wide range of stock. Loyal commercial...
RELOCATABLE
|
29
|
|
May
|
Monsoon Accessorize close to administration | ADMINISTRATION
Fashion retailer Monsoon Accessorize is close to entering ad...
|
28
|
|
May
|
M&G completes purchase of Ascentric platform from Royal London | BUSINESS SALE
Asset manager M&G has completed the purchase of wealth manag...
|
27
|
|
May
|
Food-to-go supplier calls in administrators | ADMINISTRATION
Adelie Foods, one of Britain’s biggest suppliers of sa...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources