Business
Response to media speculation re CSS
Response to media speculation re CSS.
About this update from Roadside Real Estate Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.\n \n \nBarkby Group PLC\n \n(\"Barkby\" or the \"Company\")\n \n \nResponse to media speculation re Cambridge Sleep Sciences\n \n \nThe Board of Barkby, (AIM: BARK) notes recent media speculation and announces that it is exploring options to maximise shareholder value from its subsidiary, Cambridge Sleep Sciences, (\"CSS\") the science-based sleep technology business behind SleepEngine®.\n \nCSS has achieved significant success licensing its ground-breaking technologies during the year, securing agreements with Sleep Sense International Limited and Massimo Consumer Audio. CSS expects to generate revenues in excess of £10 million over the next three years, based on the licence deals already signed and announced and anticipates generating revenues from these in Q4 2023.\n \nCSS is also in advanced negotiations with several household names on a number of new multi-year enterprise licensing deals for its SleepEngine® technology. Further announcements will be made as soon as practicable when these licences are signed. These agreements are expected to deliver significant additional revenues to the business over the coming years.\n \nGiven the commercial opportunity SleepEngine® presents, the Board has appointed advisers to undertake a strategic review of Barkby's investment in Cambridge Sleep Sciences as the Company focuses on its Roadside Real Estate strategy.\n \nThere can be no certainty that any offer or sale will ultimately be made for CSS or the value of any such proposed deal.\n \nCharles Dickson, Executive Chairman, said:\n \n\"We are delighted with the progress made by CSS over the last three years. The market opportunity for its technologies is clearly significant and we look forward to providing further updates on CSS's progress in due course.\n \n\"We expect CSS to become a significant business in its own right and the purpose of the strategic review is to evaluate the most appropriate corporate setting and structure for the company to allow it to...