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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bagir Group Ltd. | LSE:BAGR | London | Ordinary Share | IL0011317216 | ORD ILS0.04 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.475 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMBAGR
RNS Number : 6814A
Bagir Group Ltd
31 May 2019
31 May 2019
Bagir Group Ltd
("Bagir" or the "Company")
Update on Strategic Partnership
Bagir (AIM: BAGR), a designer, creator and provider of innovative tailoring, provides an update with Shandong Ruyi's proposed $16.5 million investment to acquire a 53.7% shareholding in Bagir ("Proposed Investment"), further details of which are contained in Bagir's announcements of 3 September 2018,31 December 2018 and 13 February 2019.
The Company has not received the remaining cash payment of $13.2 million under the terms of the Proposed Investment as at 30 May 2019, the extended unconditional completion date as announced on 31 December 2018, and nor has Shandong Ruyi met other commercial commitments that had been agreed. Instead Shandong Ruyi has requested an extension of the unconditional completion date to 18 June 2019 in order to discuss some changes to the agreed terms. Whilst the Board consider Shandong Ruyi's failure to complete the Proposed Investment as a fundamental breach of the Share Purchase Agreement entered into with Shandong Ruyi, the Board have agreed to this short extension due to the potential benefits that the strategic partnership might still have on the Company and its future prospects with all of Bagir's rights reserved.
The Company will provide an update to shareholders in due course.
Enquiries:
Bagir Group Limited Eran Itzhak, Chief Executive Officer Dotan Levy, Chief Financial Officer Tessa Laws, Non-Executive Chairman +44 (0) 20 7284 7133 N+1 Singer (Nominated Adviser & Broker) Mark Taylor James Moat +44 (0)20 7496 3000 Novella Communications (Financial PR) Tim Robertson Fergus Young +44 (0) 20 3151 7008
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
UPDKMGFKFGFGLZZ
(END) Dow Jones Newswires
May 31, 2019 02:00 ET (06:00 GMT)
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