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Real Good Food (RGD)

Share Price:
4.35p
Change Today:
0.000p
Market Cap:
4.33m

Real Good Food sells off patisserie arm

01 Feb 19

LONDON (ShareCast) - (Sharecast News) - Real Good Food sold its RGF Patisserie subsidiary to Chantilly Patisserie as part of 200,000 deal on Friday.
The cake decorator and ingredients maker will receive an initial upfront consideration of 100,000 in cash for RGF Patisserie, with the remaining 50,000 to be received on the first two anniversaries of the sale.

Real Good Food, which anticipates a 60,000 profit on the disposal of the business, said it would utilise cash proceeds from the sale of its loss-making subsidiary for capital purposes.

The AIM-listed firm highlighted that, following the disposal of RGF Patisserie, and those of Haydens, Garretts and R&W Scott, it was now "free to focus its full attention and resources on growing its two profitable, continuing businesses".

"Having transformed the group's financial position as a result of these disposals and other financing activities, the financial resources are now available to fund this growth."

As of 1200 GMT, RGF shares had slid 5% to 5.70p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Market Data

Currency UK Pounds
Price 4.35p
Change Today 0.000p
52 Week High 7.75p
52 Week Low 4.35p
Volume 0
Shares Issued 99.56m
Market Cap 4.33m

Dividends

  Latest Previous
  Interim Interim
Ex-Div 29-Dec-16 n/a
Paid 25-Jan-17 n/a
Amount 0.040p 0.000p