Source - LSE Regulatory
RNS Number : 3022V
Brand Architekts Group PLC
01 December 2023
 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "EUWA")) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Brand Architekts Group PLC 

("Brand Architekts" or the "Group")

Joint Venture Settlement: Mr Haircare Limited

Brand Architekts Group plc, a challenger British Beauty brand business, were pleased to announce on 30th June 2023, a resolution of its legal claim with Jamie Stevens Media Limited (JSML), its joint venture counterparty/co-shareholder in Mr Haircare Ltd. The Group agreed to a full and final settlement of all claims and to purchase JSML's 55% shareholding in Mr Haircare Ltd in cash at a fair value price to be determined by an external valuer. An independent valuer was appointed and JSML's shareholding has been valued at £535,000. Final payment will be made shortly.

The acquisition of MR Haircare is in line with the company's strategic vision to invest and build its portfolio of high-performance, problem-solving and margin accretive brands. The brand will be relaunched as 'MR Expert Solutions' and the company's vision is to initially consolidate its position in the Men's Thicken and Disguise haircare category and then expand the brand into adjacent male grooming problem solving categories and invest in the master brand to accelerate brand awareness and stimulate consumer trial.

 

For further information please contact:





Brand Architekts Group PLC

Quentin Higham

 

 

 

 

Singer Capital Markets

Shaun Dobson / Jen Boorer

(Nominated adviser and broker)

020 7496 3000

Alma PR

Josh Royston / Sam Modlin

 

0203 405 0205

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
JVEVBLFXXFLEFBV
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Brand Architekts Group PLC (BAR)

-6.00p (-21.43%)
delayed 16:57PM