22 May 2024
ME Group International
PLC
("ME Group" or the "Company"
or "the Group")
Disposal of SEMPA
SAS
ME Group, the instant-service
equipment group, announces that on 20 May 2024, its subsidiary
company ME GROUP GSS sold its entire interest in SEMPA SAS
("Sempa") to Food Machine Invest, a French corporation, for a total
cash consideration of €4.6m (the "Transaction"). Pascal Faucher,
formerly a director of KIS SAS and Sempa, subsidiaries of ME Group,
has a 24% interest in Food Machine Invest's equity.
Following a review of Sempa's
operations, the Board decided to sell the business and focus on ME
Group's core activities, which is to site and operate
automated-vending equipment in return for commission and/or fixed
fee. ME Group acquired Sempa in 2019 and
since then has recovered the acquisition consideration through
Sempa's profit contribution, resulting in ME Group booking no
material write-downs as a result of the Transaction. The Group
continues to operate 441 freshly squeezed orange juice machines in
Japan.
The Board intends to reinvest the
sale proceeds in the continued growth of its core business areas of
photobooths and laundry operations, which both delivered strong
growth throughout FY 2023, whilst modernisation and digitalisation
of the business continue to be a strategic long-term
focus.
The Transaction is a smaller
related-party transaction under LR 11.1.10R.
ENQUIRIES:
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ME
Group International plc
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+44
(0) 1372 453 399
|
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Serge Crasnianski, CEO
|
|
|
Stéphane Gibon, CFO
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|
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Hudson Sandler
Wendy Baker / Nick Moore
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+44
(0) 20 7796 4133
me-group@hudsonsandler.com
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NOTE TO EDITORS
ME Group International plc (LSE:
MEGP) operates, sells and services a wide range of instant-service
vending equipment, primarily aimed at the consumer
market.
The Group operates vending units
across 18 countries and its technological innovation is focused on
four principal areas:
·
Photo.ME - Photobooths and integrated
biometric identification solutions
·
Wash.ME - Unattended laundry services and
launderettes
·
Print.ME - High-quality
digital printing kiosks
·
Feed.ME - Vending equipment for
the food service market
In addition, the Group operates
other vending equipment such as children's rides, amusement
machines, and business service equipment.
Whilst the Group both sells and
services this equipment, the majority of units are owned, operated
and maintained by the Group. The Group pays the site owner a
commission based on turnover, which varies depending on the
country, location and the type of machine.
The Group has built long-term
relationships with major site owners and its equipment is generally
sited in prime locations in areas of high footfall such as
supermarkets, shopping malls (indoors and outdoors), transport
hubs, and administration buildings (City Halls, Police etc.).
Equipment is maintained and serviced by an established network of
more than 650 field engineers.
In August 2022 the Company changed
its listed entity name to ME Group International plc (previously
Photo-Me International plc) to better reflect the Group's
diversification focus and business strategy.
The Company's shares have been
listed on the London Stock Exchange since 1962.
For further information:
www.me-group.com
