6 Apr 2016 07:00
6 April 2016
LITEBULB GROUP LIMITED
("LiteBulb" the "Company" or the "Group")
Corporate Update
LiteBulb (AIM: LBB), the branded product developer, provides an update on corporate activity relating to its disposal strategy, as announced on 3 March 2016.
BDO LLP has received non-binding indicative offers in respect of each of the Group's trading subsidiaries and, together with LiteBulb, continues to work on realising the maximum value from the disposal process. As part of this process, Bluw Limited and Concept Merchandise Limited have been placed into administration.
The Board cannot give guidance on the timeframe for, or likelihood of, realisations at this stage although the Directors believe that there will be no return to shareholders.
A further update will be made in due course.
For further information, please contact:
LiteBulb Group Limited | www.litebulbgroup.com | |
Howard Partington, Interim Chief Executive | Tel: 020 3384 7100 | |
Guy Pettigrew, Group Finance Director | ||
finnCap (NOMAD & Broker) | Tel: 020 7220 0500 | |
Stuart Andrews / Adrian Hargrave / Scott Mathieson (Corporate Finance) | ||
Joanna Scott (Corporate Broking) | ||
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Walbrook PR Limited | Tel: 020 7933 8780 or litebulb@walbrookpr.com | |
Paul McManus / Sam Allen | Mob: 07980 541 893 / Mob: 07884 664 686 | |
About LiteBulb Group
LiteBulb Group designs, manufactures and distributes innovative brands and products to the global retail market.
LiteBulb Products, our wide range of products are sold in over 30 countries through blue chip retailers including: Tesco, M&S, John Lewis Partnership, Sainsbury's, Debenhams, Wilkinson's, Next, Boots, WH Smiths, Amazon, Target and Costco.
LiteBulb Creative is a creative agency with global reach, delivering compelling and agile brand extension programmes to the entertainment industry. LiteBulb Creative has designed products and campaigns for clients around the world, including Disney, Hasbro and Miramax.