Business
Trading Update, Placing of New Shares and New C...
Trading Update, Placing of New Shares and New C....
About this update from Tern Plc
[{"type":"text","content":"\n \n\n The Core Business PLC\n (`Core' or `the Company')\n\n Trading Update, Placing of New Shares and New Contracts\n\n9 November 2007\n\nThe Core Business (LSE: CORE) is pleased to announce that the first half of the\ncurrent financial year has seen a significant increase in the level of sales.\nThis has been due to a combination of the successful acquisition of Amirose\nInternational Limited in July, and the development of a growing brand\ndistribution business within Core. Group sales for the six months to 30\nNovember 2007 are expected to be just under £1m.\n\nThe brand distribution activities within Core have developed at a faster pace\nthan expected, and this in turn has required increased levels of working\ncapital. As a result, the Company has placed 19,047,619 new Ordinary 0.5p\nShares at 1.05p per share, raising a total of £200,000 to fund this additional\nworking capital requirement. The new shares are due for admission to trading on\nAIM with effect from 13 November 2007.\n\nThe Company is also pleased to announce that it has entered into an agreement\nwith Ulric de Varens SA which owns Ulric De Varens - a range of leading French\nmass market fragrances. The agreement is to establish a subsidiary to launch and\nbuild the Ulric de Varens fragrance brands in the UK.\n\nAs part of this agreement Core will hold a 20% stake in a new and yet to be\nestablished subsidiary. In addition, Core will receive a management fee in\nexcess of GBP150,000 over two years, commencing from 1 November 2007. Core will\nmanage the marketing and commercial activities for the Ulric de Varens fragrance\nbrand in the UK and is in final negotiations with a major high street retailer\nto launch this brand in early 2008.\n\nUlric de Varens SA is the leading mass fragrance manufacturer in France. The\nCompany is listed on the Paris Stock Exchange (Euronext, Eurolist Compartment\nC), has more than 26 years of experience and achieves 75% of its sales in export\nmarkets. With sales of over Euros 20 million in the first half of 2007 (an\nincrease of 8.4 per cent. compared to the equivalent period in 2006) Ulric de\nVarens SA is seeking to build a significant fragrance business in the UK.\n\nIn addition Core has secured an exclusive 5 year UK distribution agreement, for\nBloom colour cosmetics. Founded in 1993 Bloom is a successful Australian beauty\n...