Silverwood Brands Completes Acquisition of Balmonds Skincare Limited

June 23, 2022 Firm News

Armstrong Teasdale’s U.K. Capital Markets Team advised client, Silverwood Brands Plc, the enterprise company established to develop a diversified portfolio of consumer-facing brands and businesses, in connection with its acquisition of Balmonds Skincare Limited (“Acquisition”) and the contemporaneous admission of the enlarged group to trading on the AQSE Growth Market.

The total consideration for the Acquisition amounts to up to £8 million to be satisfied by the issue and allotment of up to 8,013,399 new Ordinary Shares by Silverwood Brands Plc at a deemed share price of 85p per share to the vendors of Balmonds Skincare. 

Balmonds Skincare is a manufacturer of skincare products aimed at consumers who suffer from skin conditions such as eczema, psoriasis and dermatitis. 

The enlarged share capital of Silverwood Brands Plc as enlarged by the Acquisition was admitted to trading to the Access segment of the AQSE Growth Market on 15 June 2022.

Joan Yu, head of the U.K. Capital Markets team at Armstrong Teasdale, said: “We are delighted to have assisted Silverwood with its acquisition of Balmonds Skincare, and we look forward to working with the Company on future acquisitions.”

The Armstrong Teasdale team was led by Yu, with support from Solicitor Cameron Sutton(qualified in Western Australia) and Paralegal Sebastian Clark.

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