MySale Group PLC Disposal (9600X)
03 May 2019 - 4:00PM
UK Regulatory
TIDMMYSL
RNS Number : 9600X
MySale Group PLC
03 May 2019
3 May 2019
Disposal
MySale Group plc (AIM: MYSL) ("the group"), the leading
international online retailer, today announces that it has entered
into an unconditional agreement to sell the trade and assets of the
website cocosa.co.uk ("the Business") to Brandalley UK Limited.
The Business is the group's main trading website in the UK and
the disposal forms part of the rationalisation programme previously
announced as the group increasingly focuses on the Australia and
New Zealand (ANZ) region.
The consideration for the sale is GBP GBP1.5 million, payable in
cash on completion. Completion of the sale agreement shall take
place on 9 May 2019.
In the financial year to June 2018, the Business achieved
revenue of A$15.7 million, approximately 5% of total group revenue,
incurred a loss before tax of A$0.4 million (including attributable
central operating expenses) and had assets with nil net book
value.
Carl Jackson, Chief Executive Officer, commented:
"This disposal represents a key step in accelerating our 'ANZ
First' strategy, which looks to optimise our scale, resources and
market position in the region.
"With this more streamlined and focused approach, we can provide
an improved offering for both our customers and brand
partners."
The information contained within this announcement is deemed to
constitute inside information for the purposes of article 7 of the
Market Abuse Regulation (EU) no. 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
Enquiries:
MySale Group plc
Carl Jackson, Chief Executive Officer +61 (0) 414 817 843
Graeme Burns, Investor Relations +44 (0) 777 585 4516
N+1 Singer (Nominated Adviser and Broker) +44 (0) 20 7496 3000
Mark Taylor
James White
MHP Communications (Financial PR Adviser) +44 (0) 20 3128 8570
Simon Hockridge
Giles Robinson
Pete Lambie
About MySale Group
MySale is a leading international online retailer with
established retail websites in Australia, New Zealand and
South-East Asia. Founded in 2007, the Group provides customers with
access to outstanding brands and products at discounted prices
whilst simultaneously providing brand partners unique international
inventory and sales solutions.
The Group provides a flexible marketplace solution in ANZ and
South East Asia for domestic and international brands The Group
offers a number of solutions for brands including 1P, 3P (strategic
partners, managed and self-managed). The core product categories
are womenswear, menswear, footwear, sports, health & beauty,
homewares, technology and personalised gifts
Customers' shopping experiences are enhanced by the Group's
deployment of leading edge technology to ensure personalised and
localised product offerings. The customer experience has been at
the heart of the Group's technology development since the earliest
days and now mobile commerce is the Group's main sales channel.
Proprietary technology innovations deployed include the Ourpay
'buy-now, pay-later' solution which has proved popular with over
130,000 customers using the solution.
The Group's online sales are supported by a robust and flexible
network of in-house supply chain infrastructure and technology that
enables MySale to offer products from around the world for sale and
delivery to customers in each territory.
As a result of these exceptional capabilities in inventory
management and international sales MySale has built an enviable
portfolio of over 2,500 brand partners from whom products are
sourced.
The Group operates websites under a number of different brands
all of which operate on a uniform technology platform and a single
international logistics infrastructure.
The Group operates 22 websites in seven countries; OzSale and
BuyInvite in Australia; NzSale in New Zealand; SingSale in
Singapore; MySale in Malaysia, Thailand, the Philippines, and Hong
Kong,; whilst the Group's retail websites are Deals Direct, OO.com
and Top Buy in Australia and Identity Direct in Australia and New
Zealand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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