Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) shares resumed trading on the Main Market of the London Stock Exchange for the first time since being suspended in June 2024.
It follows the delayed release of its FY24 audited results and interim results, which were published recently (during June and July). That coincided with the company changing its accounting reference date.
“While this extended suspension period has undoubtedly been challenging, it has allowed the company to navigate a difficult chapter, stabilise operations, and emerge with a renewed strategic focus,” said Chill Brands chief executive Callum Sommerton.
“We deeply appreciate the patience and unwavering support of our shareholders during these testing times.”
Sommerton added: “With the resumption of trading, there are compelling reasons for optimism about the company's future.”
“Our Chill Connect division is steadily increasing revenue and securing new commercial partnerships, while plans to revitalise Chill.com and strengthen its role within our broader business ecosystem are being enacted.”
Trading update
Chill Brands, today, also updated on its recent trading and financial position.
It noted that, in May, the company raised £1 million via convertible loan notes, and, presently, £0.48 million remains undrawn.
The firm expects a VAT rebate and also has access to an inventory financing facility.
Management believes the current financial resources will support operations into 2026.
The near-term focus is on growing the Chill Connect distribution division, which serves FMCG brands through retailer relationships, commissions, and margin-based distribution.
It has secured clients in tobacco alternatives and is in talks with additional brand partners.
Investment is being made in a wholesale ordering portal, a larger sales team, and in-house fulfilment facilities.
The Chill.com e-commerce platform has been refocused on the UK market, with marketing and optimisation work underway.