Reverse Takeover: Silverwood Brands PLC

Silverwood Brands PLC (Silverwood) has successfully completed the acquisition of Balmonds Skincare Ltd (Balmonds) and its subsidiary (together the Balmonds Group) by way of reverse takeover, placing and re-admission to the Access Segment of the AQSE Growth Market.

Silverwood announced it has acquired the entire share capital of Balmonds (the Acquisition), a UK-based skincare company. Balmonds manufactures cosmetic skincare products primarily for consumers who suffer from conditions such as eczema, psoriasis and dermatitis. Its product line is made completely from natural ingredients that protect and hydrate sore and inflamed skin.

The Acquisition was satisfied through the issue of 9,441,764 consideration and loan shares at 85p per share, amounting to a total consideration of approximately £8,000,000. Silverwood was established to acquire businesses focused on consumer-facing brands in, but not limited to, the food, organic food, wellness, lifestyle and leisure sectors. Following the Acquisition of the Balmonds Group, the principal activity of Silverwood will be to act as a holding company while looking for complementary acquisition opportunities.