The Core Business ("Core" or the "Company")
Trading Statement & New Debt Finance
The Company has experienced an improvement in order levels since the Trading
Statement made on 2 June 2009.
Following the launch of Bloom, the Australian colour cosmetics brand into 100
Superdrug stores in September 2008, the Company has launched the range into 6
Debenhams store in Ireland, into Arnotts a major department store in Dublin, and
is currently in negotiation with Superdrug to roll out Bloom into further
stores. Grace Your Face, a wholly owned skincare brand, launched in leading
French retail chain Monoprix in late June 2009. It is listed in 140 stores
across France. PureDerm a distributed skincare brand is in the process of
launching into the UK's independent pharmacy sector via a third party sales
team. Skin Benefits, a wholly owned brand, is undergoing a relaunch with
negotiations underway to launch the brand globally in partnership with a US
pharmaceutical distributor. The Company also recently secured its first listing
for a variety of its products in Holland and Barrett and launched 1-2 Dry, an
innovative personal care product, onto boots.com
The Company is also pleased to announce that it secured £50,000 of debt
financing through a short-term loan facility from Matt Cooper, Core's Chairman
(the "Loan Facility").
The Loan Facility, which is secured on certain specific trade receivables of the
Company, which fall payable 45 days after issue, is repayable from their
proceeds and carries a fixed interest rate at an equivalent rate of 8 per cent.
per annum with the interest accruing daily and a £1,000 arrangement fee.
The Loan Facility will enable the Company to finance the increase in orders
mentioned above.
The directors (other than Mr. Cooper), having consulted with the Company's
nominated adviser, consider the terms of the Loan Facility to be fair and
reasonable insofar as shareholders are concerned.
15 July 2009
ENDS
For further information, please contact:
The Core Business PLC www.thecorebusiness.co.uk
Stirling Murray, Chief Executive 020 8559 8244
Alastair Kennedy, Finance Director 020 8559 8244
Blomfield Corporate Finance Ltd (Nomad)
Nick Harriss/Emily Morgan 020 7489 4500
SVS Securities plc (Broker)
Ian Callaway 020 7638 5600
Notes to Editors
The Core Business was established in May 2004 by Stirling Murray to create,
develop, launch and distribute personal care and beauty brands. It also provides
consultancy and brand management services. The Company was listed on AIM in March
2006 under the ticker `CORE.'