Disposal of Brighter Foods Limited, Notice of General Meeting and Trading Update Real Good Food plc, (AIM: RGD) the diversified food business, announces that it and the Managers have conditionally agreed to sell the entire issued share capital of Brighter Foods Limited for an aggregate cash consideration of £43.0 million on a cash free/debt free basis to THG plc ( THG ). RGF, through its subsidiary NBF, has an interest in 84.334 per cent. of the issued share capital of Brighter Foods Limited with the balance owned by Brighter s Managers. The Group will therefore receive cash proceeds of £35.64 million. The consideration due to the Sellers is subject to customary adjustments for (amongst other things) the actual working capital at Completion against an agreed target level. The net assets being disposed of amount to £17.3 million, resulting in a profit on disposal of approximately £20.4 million.
Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner with Mastercard in the HomeSend global payment hub, provides a further update regarding the Scheme of Arrangement ( Scheme ) proposed under the Scheme Implementation Agreement ( SIA ) with Burst Acquisition Co. Pty. Ltd, a company controlled by Mastercard ( Mastercard ), as announced on 10 September 2020 ( Announcement ) . In its announcement of 23 October 2020, Wameja advised that Seamless Distribution Systems AB ( Seamless ), the purchaser under the sale and purchase agreement for the sale of Wameja s core business that completed on 25 July 2019 ( SPA ), had given notice of a potential claim under the indemnity given by Wameja to Seamless in the SPA in respect of licences for certain third party intellectual property utilised by Botswana Telecommunications Corporation Limited ( BTC ), as a user of eServGlobal s Paymobile platform ( Initial Notice ).
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