Castelnau Group Ltd - Silverwood Brands Plc. Loan Conversion
01 June 2023 - 1:53AM
PR Newswire (US)
31 May 2023
Castelnau Group
Limited
("Castelnau" or "The
Company")
Silverwood Brands Plc.
Loan Conversion
Castelnau Group
Limited, is pleased to announce that it has agreed to convert its
convertible loan to Silverwood Brands PLC ("Silverwood") into
equity in Silverwood. The total principal amount of the facility,
excluding accrued interest, is £1.5mn and the conversion price is
70 pence per ordinary
share.
Following conversion,
Castelnau will own approximately 1.8% of the equity in Silverwood.
Silverwood equity accounts for approximately 1.5% of the net asset
value of the Company.
Silverwood is an
investment vehicle focused on premium consumer brands which have an
existing presence in the beauty sector. The purpose of the loan,
which was issued in December 2022,
was to provide additional working capital funding to Silverwood as
it completed two acquisitions.
Graham Shircore, CEO of Castelnau at Phoenix
Asset Management Partners, said:
"Our
decision to proactively convert this facility is indicative of our
continued confidence in the progress which the Silverwood team are
making. We look forward to working with them further as they
continue to grow the
business."
Further information on
the Company can be found on its website
at www.castelnaugroup.com
Castelnau Group
Graham
Shircore
info@castelnaugroup.com
Liberum Capital
Limited
+44 (0) 20 3100 2000
Darren Vickers/Owen Matthews/Will
King
Citigate Dewe
Rogerson
+44 (0) 20 7638 9571
Caroline Merrell/Toby Moore/Sheena
Munsami
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