Extension of Acquisition Long Stop Date

Essentially Group PLC

03 May 2024

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

ESSENTIALLY GROUP PLC

("Essentially" or "the Company'')

Extension of Long Stop Date for the Acquisition of Best of Latin Foodstuff Trading LLC

As announced on 8 March 2024, Essentially' s wholly owned subsidiary, Essentially Holdings Limited, a company registered in Abu Dhabi Global Market with company number 000005363 has entered into a binding share purchase agreement for the acquisition of the entire share capital of Best of Latin Foodstuff Trading LLC from the sole shareholder of Best of Latin, Catalina Oñate for a total consideration of £1,935,000 ("Share Purchase Agreement").

The long stop date for the completion of the acquisition was 3 May 2024. The parties to the Share Purchase Agreement have agreed an extension of this long stop date to 31 May 2024 to allow additional time to obtain the approval of the acquisition by the Department of Economic Development in Dubai UAE, a formality required to be satisfied for completion.

The Directors accept responsibility for this announcement.

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For further information, please contact:

Essentially Group Plc
Raja W Abuljebain, CEO	Tel: [phone]
	https://essentiallyplc.com
AQSE Exchange Corporate Adviser
Alfred Henry Corporate Finance Ltd
Nick Michaels/Maya Klein Wassink	Tel: [phone]
	www.alfredhenry.com
Broker
Clear Capital Markets Ltd
Andrew Blaylock	Tel: [phone]
	https://clearcapitalmarkets.co.uk

About Essentially Group PLC

Essentially's mission and strategy is the acquisition, holding and development of companies active in the health food and beverages market.  Essentially's wholly owned operating subsidiary in the United Arab Emirates ("UAE"), Essentially Juices Manufacturing LLC ("EJM"), offers premium quality wellness shots, functional juices, lemonades, nut milks, single origin fruit juices and healthy protein snacks. EJM has a manufacturing facility in Dubai where the beverages are produced and is active in the UAE and Kingdom of Saudi Arabia fruit and vegetable juice market.

For more information on the Company please visit  https://essentiallyplc.com/

 

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