Litebulb Group Limited Disposal Strategy Update (2786U)

TIDMLBB

RNS Number : 2786U

Litebulb Group Limited

06 April 2016

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                        Tel: [phone] 
  Chief Executive 
 Guy Pettigrew, Group Finance 
  Director 
 
 finnCap (NOMAD & Broker)                          Tel: [phone] 
 Stuart Andrews / Adrian Hargrave 
  / Scott Mathieson (Corporate Finance) 
 Joanna Scott (Corporate 
  Broking) 
 
 Walbrook PR Limited                            Tel: [phone] or 
                                              [e-mail] 
 Paul McManus / Sam Allen                   Mob: [phone] / 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 06, 2016 02:00 ET (06:00 GMT)