4 Jan 2018 08:00
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%1 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.
1Approx. 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 |
BAGR.L (BAGR)