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.
Utilises a team of experienced drivers to provide tailored logistics solutions, with a focus on home delivery services, whilst also offering complementary warehouse solutions. Serves 20 active clients from a wide range of sectors, including retail, i...
Established for over 50 years.Provides a range of automotive electrical services including air conditioning, heating, tachographs, security systems, vehicle tracking and reversing aids for vehicle, plant and marine industries. Over 100 active clients...
Provides freight forwarding for a range of sectors, as well as warehousing and an array of other complementary services. Serves over 20 clients, with an 80% retention rate.Strong second-tier management team in place. Generates revenue on an internati...
PPL Corporation has announced that it has put its UK utility...
Samworth Brothers has completed the £6.4 million acqui...
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