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Pin to quick picksBagir Grp Regulatory News (BAGR)

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Update relating to strategic partnership

Thu, 4th Jan 2018 08:00

RNS Number : 9494A
Bagir Group Ltd
04 January 2018

4 January 2018

Bagir Group Ltd.

("Bagir" or the "Company")

Update relating to strategic partnership with Shandong Ruyi

Bagir (AIM: BAGR), a designer, creator and provider of innovative tailoring, provides an update in relation to its proposed strategic partnership with Shandong Ruyi Technology Group Ltd ("Shandong Ruyi Group"), a leading Asian global textile manufacturer, under which Shandong Ruyi will invest $16.5 million to acquire c.54% of the Company's enlarged issued share capital. Further details are contained in Bagir's announcement of 23 November 2017.

Shandong Ruyi Group has updated Bagir that it has made the transfer of the $1.65m initial deposit payment to Bagir. Bagir will update the market once this payment has been received.

Approx. 51% fully diluted

For further information, please contact:

Bagir Group Ltd.

Eran Itzhak, Chief Executive Officer

Udi Cohen, Chief Financial Officer

Tessa Laws, Non-Executive Chairman

via Novella Communications on:

+44 (0) 20 3151 7008

N+1 Singer

Alex Price

+44 (0) 20 7496 3000

Novella

Tim Robertson

Toby Andrews

+44 (0) 20 3151 7008

This information is provided by RNS
The company news service from the London Stock Exchange
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