Last checked at 22 May 2024 07:00
22 May 2024
ME Group International PLC
("ME Group" or the "Company" or "the Group")
Disposal of SEMPA SAS
ME Group, the instant-service equipment group, announces that on 20 May 2024, its subsidiary company ME GROUP GSS sold its entire interest in SEMPA SAS ("Sempa") to Food Machine Invest, a French corporation, for a total cash consideration of €4.6m (the "Transaction"). Pascal Faucher, formerly a director of KIS SAS and Sempa, subsidiaries of ME Group, has a 24% interest in Food Machine Invest's equity.
Following a review of Sempa's operations, the Board decided to sell the business and focus on ME Group's core activities, which is to site and operate automated-vending equipment in return for commission and/or fixed fee. ME Group acquired Sempa in 2019 and since then has recovered the acquisition consideration through Sempa's profit contribution, resulting in ME Group booking no material write-downs as a result of the Transaction. The Group continues to operate 441 freshly squeezed orange juice machines in Japan.
The Board intends to reinvest the sale proceeds in the continued growth of its core business areas of photobooths and laundry operations, which both delivered strong growth throughout FY 2023, whilst modernisation and digitalisation of the business continue to be a strategic long-term focus.
The Transaction is a smaller related-party transaction under LR 11.1.10R.
ENQUIRIES:
ME Group International plc | +44 (0) 1372 453 399 |
Serge Crasnianski, CEO | |
Stéphane Gibon, CFO | |
Hudson Sandler Wendy Baker / Nick Moore
| +44 (0) 20 7796 4133 me-group@hudsonsandler.com |
NOTE TO EDITORS
ME Group International plc (LSE: MEGP) operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market.
The Group operates vending units across 18 countries and its technological innovation is focused on four principal areas:
· Photo.ME - Photobooths and integrated biometric identification solutions
· Wash.ME - Unattended laundry services and launderettes
· Print.ME - High-quality digital printing kiosks
· Feed.ME - Vending equipment for the food service market
In addition, the Group operates other vending equipment such as children's rides, amusement machines, and business service equipment.
Whilst the Group both sells and services this equipment, the majority of units are owned, operated and maintained by the Group. The Group pays the site owner a commission based on turnover, which varies depending on the country, location and the type of machine.
The Group has built long-term relationships with major site owners and its equipment is generally sited in prime locations in areas of high footfall such as supermarkets, shopping malls (indoors and outdoors), transport hubs, and administration buildings (City Halls, Police etc.). Equipment is maintained and serviced by an established network of more than 650 field engineers.
In August 2022 the Company changed its listed entity name to ME Group International plc (previously Photo-Me International plc) to better reflect the Group's diversification focus and business strategy.
The Company's shares have been listed on the London Stock Exchange since 1962.
For further information: www.me-group.com