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.
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.