Completion of Proposed Disposal and Change of Name
Swallowfield plc, a market leader in the development, formulation, and supply of personal care and beauty products, including its own portfolio of brands, is pleased to announce that further to its announcements of 15 July 2019 and 31 July 2019 in respect of the proposed disposal of its Manufacturing business and associated assets, the Proposed Disposal is now complete.
Accordingly, the Company will commence trading on 28 August 2019 under its new name, Brand Architekts Group plc and a new ticker, BAR. The new website will be available with effect from 28 August 2019 at www.brandarchitektsplc.com. The Company's head office and registered office will also be moved to 8 Waldegrave Road, Teddington TW11 8GT with effect from 28 August 2019. The Company's ISIN and Sedol will remain unchanged.
Additionally, as previously announced, Matthew Gazzard, Group Finance Director, and Jane Fletcher, Group Sales and Marketing Director will leave the Group and step down as directors of the Company with immediate effect. Recruitment is underway for Matthew's replacement and both Matthew and Jane will continue to provide support for the Group under a transitional services agreement; in the case of Matthew Gazzard for a period of up to 3.5 months and in the case of Jane Fletcher for a period of up to 3 months from today's date.
Brendan Hynes, Chairman commented:
"This marks a significant milestone in the development of the Group. With a single-minded focus on Owned Brands, this transformational strategy provides clear growth opportunities with superior financial returns. The creation of Brand Architekts Group plc will enable us to maximise value for our shareholders."
Unless otherwise defined, capitalised terms used in this Announcement have the meanings given to them in the announcement and Circular released by the Company on 15 July 2019.
For further information please contact:
Swallowfield plc (to be renamed Brand Architekts Group plc)
Chief Executive Officer
020 3166 2840
Group Finance Director
01823 662 241
020 7496 3000
020 3405 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 [email protected] or visit www.rns.com.
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