15 Apr 2016 07:00
15 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.
On 11 April 2016 the business and assets of Litebulb Studios Limited (in administration) were sold to Hubcom Limited for consideration of £20,000 and the business and assets of Meld Marketing Strategies Limited (in administration) and Ginger Fox Limited (in administration) were sold to Hacche Retail Limited for consideration of £131,109 and £321,892 respectively.
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 | |