11 Sep 2023 07:00
This 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.
Barkby Group PLC
("Barkby" or the "Company")
Response to media speculation re Cambridge Sleep Sciences
The 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®.
CSS 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.
CSS 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.
Given 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.
There can be no certainty that any offer or sale will ultimately be made for CSS or the value of any such proposed deal.
Charles Dickson, Executive Chairman, said:
"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.
"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 develop its full potential as well as what is in the best interests of Barkby's shareholders."
Change of Name of Nominated Adviser and Broker
The Company also announces that its Nominated Adviser and Sole Broker has changed its name to Cavendish Capital Markets Limited following completion of its own corporate merger.
- Ends -
For more information
Barkby Group plc Charles Dickson, Executive Chairman
| c/o Montfort |
Cavendish Capital Markets Limited (Nomad and Broker) Carl Holmes and Simon Hicks (Corporate Finance) Tim Redfern (ECM)
| +44 (0)20 7220 0500 |
Montfort Olly Scott Georgia Colkin |
+44 (0)78 1234 5205
|
About Barkby
Barkby is a roadside real estate business focused on building and scaling a high-quality portfolio of modern, ESG-compliant assets. It is in the process of exiting its non-core investments.
About Cambridge Sleep Sciences Ltd
Cambridge Sleep Sciences Ltd, part of the Life Sciences division of The Barkby Group Plc, develops technology which improves natural sleep. Using the principles of neuroscience and cutting-edge technology to enhance brain activity during sleep, its innovative solutions aim to improve health, wellbeing and enhance quality of life.
Its SleepEngine® technology has been developed and refined over a decade by a team of researchers, scientists, sound engineers and medical experts. This unique technology produces sounds which emulate the waves created by the brain during sleep cycles. The sleep sounds guide the user's brain through the sequence of healthy sleep cycles, helping them fall asleep and achieve the quality of sleep they need in a consistent and optimal way.
Find out more at: www.cambridgesleepsciences.com