VENTURE LIFE GROUP PLC (VLG) — Investor Update

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the VENTURE LIFE PLC investor presentation. Throughout today's recorded presentation, investors will be in listen only mode. I'd now like to hand over to Jerry Randall, CEO and Daniel Wells, CFO. Good morning to you both. Good morning, everybody. I'm Jerry Randall, founder and CEO of VENTURE LIFE GROUP, and I'm joined by my chief financial officer, Danny Wells, to share with you today. So today, we announced the significant acceleration of the simplification of VENTURE LIFE GROUP to drive future profitable growth. We divested of the CDMO operations of the group, that's in Italy and Sweden, and some peripheral brands at the same time. This significantly simplifies our structure along with other activities that we're doing and makes us lean for growth. Takes away the capital intensive nature of the CDMO. We become a pure play branded consumer health care platform, and we're recycling that cash from the sale of this low margin, mature, lower growth product business into a higher margin, high growth products. Now that's the ones you got at the moment. We'll invest in and also ones we'll acquire. And these products have pricing power, enable to grow our existing core brands. We're becoming horizontally integrated with a focus on strategic customer relationships and strategic vision to be the partner of choice for what we phrase as proactive, healthy, longevity, or health span. So to achieve this simplified, less capital intensive business approach, we've divested the CDMO. We've that's the Bicosons business and the Nesta business in Sweden with some small peripheral brands. And we've received a payment of €62,000,000 for that disposal. When I say received, we're exchanging contracts today, and then we'll complete in a few...