Investegate |Real Good Food PLC Announcements | Real Good Food PLC: Final Results investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
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.