Swallowfield PLC Completion of Proposed Disposal and Change of Name (2467K)

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RNS Number : 2467K

Swallowfield PLC

27 August 2019

Swallowfield plc

("Swallowfield", the "Company" or the "Group")

Completion of Proposed Disposal and Change of Name

Swallowfield plc, a market leader in the development, formulation, and supply of personal care and beauty products, including its own portfolio of brands, is pleased to announce that further to its announcements of 15 July 2019 and 31 July 2019 in respect of the proposed disposal of its Manufacturing business and associated assets, the Proposed Disposal is now complete.

Accordingly, the Company will commence trading on 28 August 2019 under its new name, Brand Architekts Group plc and a new ticker, BAR. The new website will be available with effect from 28 August 2019 at www.brandarchitektsplc.com. The Company's head office and registered office will also be moved to 8 Waldegrave Road, Teddington TW11 8GT with effect from 28 August 2019. The Company's ISIN and Sedol will remain unchanged.

Additionally, as previously announced, Matthew Gazzard, Group Finance Director, and Jane Fletcher, Group Sales and Marketing Director will leave the Group and step down as directors of the Company with immediate effect. Recruitment is underway for Matthew's replacement and both Matthew and Jane will continue to provide support for the Group under a transitional services agreement; in the case of Matthew Gazzard for a period of up to 3.5 months and in the case of Jane Fletcher for a period of up to 3 months from today's date.

Brendan Hynes, Chairman commented:

"This marks a significant milestone in the development of the Group. With a single-minded focus on Owned Brands, this transformational strategy provides clear growth opportunities with superior financial returns. The creation of Brand Architekts Group plc will enable us to maximise value for our shareholders."

Unless otherwise defined, capitalised terms used in this Announcement have the meanings given to them in the announcement and Circular released by the Company on 15 July 2019.

 
 
   For further information please contact: 
 Swallowfield plc (to be renamed Brand Architekts 
  Group plc) 
                                                         020 3166 
 Tim Perman              Chief Executive Officer          2840 
                                                         01823 662 
 Matthew Gazzard         Group Finance Director           241 
 
 Shaun Dobson                                            020 7496 
  George Tzimas          N+1 Singer                       3000 
 
 Josh Royston 
  Hilary Buchanan                                        020 3405 
  Sam Modlin             Alma PR                          0205 
 

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(END) Dow Jones Newswires

August 27, 2019 03:52 ET (07:52 GMT)