Business
Update re: Bindeez Products
Update re: Bindeez Products.
About this update from Character Group Plc
[{"type":"text","content":"\n Character Group PLC\n09 November 2007\n\nIssued on behalf of The Character Group plc\nDate: Friday, 9 November 2007\n\n Embargoed: 7.00am\n\n\n The Character Group plc\n Update in relation to Bindeez products\n\n\nThe Board of The Character Group plc ('Group' or 'Company') wishes to update\nshareholders in relation to Bindeez branded products distributed by the Group in\nUK and Eire on behalf of the manufacturers, Moose Enterprise Pty, Australia \n('Moose').\n\nFollowing a number of reported cases of illness in Australia, the Group\nannounced on Wednesday (7 November 2007) that it had recommended to its\ncustomers to withdraw from sale all Bindeez products whilst independent test\nlaboratory and EU toxicologist tests were being undertaken.\n\nWhilst there have been no cases of illness reported in the UK and Eire, we have\nbeen made aware of a further case reported in the USA in relation to this\nproduct range.\n\nAlthough at this stage the Group is still awaiting the test results, in light of\nthis additional reported incident in the USA and in an effort to avoid any\npotential risk to children as well as prevent confusion or concern with UK and\nEire consumers, the Directors have decided, as a further safety measure,\nvoluntarily to recall from retail and consumers all Bindeez Products distributed\nby the Group.\n\nThe Group takes all reasonable measures to ensure that all its products are safe\nand that children's safety is the priority. In this particular case, it appears\nthat an unapproved formulation may have been used in the manufacturing process\nand this is now being rectified. In addition to ensuring the use only of\napproved bead formulation, Bitrex(R) has been added to the manufacturing process\nof all replacement products. This safe solution leaves a bitter taste on oral\ncontact so as to dissuade children from placing the product in the mouth.\n\nThe Directors anticipate that new supplies, which conform to the correct\nspecification, will commence to be shipped from the first week of December 2007.\nDue to the interruption to supplies, it is inevitable that the Group will lose\nsome sales at this busy time of the year. Despite this, the Directors expect the\nBindeez brand to grow during the current financial year as a whole.\n\nThe Directors will continue to keep shareholders updated as appropriate.\n\nDetails o...