Voyager Life PLC Temporary Suspension (2319B)
September 30 2022 - 1:00AM
UK Regulatory
TIDMVOY
RNS Number : 2319B
Voyager Life PLC
30 September 2022
30 September 2022
Voyager Life plc
("Voyager" or the "Company")
Response to Press Speculation
Voyager, the health and wellness company supplying high-quality
Cannabidiol (CBD), hemp seed oil and hemp-related products, notes
speculation in the press yesterday about a potential acquisition
under Board consideration.
As announced in the publication of its annual report last month,
the Company has been examining potential consolidation and
partnership opportunities . Merger and Acquisition activity has
already been evident in the UK CBD sector and the board of
directors expect this to continue. With its strong balance sheet
(GBP1.17 million cash as at the date of the annual report on 12
August 2022) and its management team, Voyager has already received
several enquiries but also is exploring other opportunities of
which it is aware.
One example of these was the possibility of acquiring the
business and assets of Tree of Life UK Limited from the
administrators and it was this potential acquisition that was
disclosed in a press article yesterday . This business had
previously been one of the UK's most successful distributors of
healthy, natural and organic products and the Directors of Voyager
considered that the vertical integration with the Company's product
range and own brand manufacturing could create value for its
shareholders. Nevertheless, for a number of reasons - including
several risks which were outlined in the press, the Directors have
concluded that this is not an acquisition that the Company should
pursue and, consequently, talks have since ended.
Voyager remains committed to its principles of sound financial
management and transparent corporate governance. As the market in
which it operates consolidates and further opportunities present
themselves for Voyager to expand its range of activities, the
Directors will continue to examine potential collaborations and
combinations whilst at all times maintaining its conservative
approach to running costs and the importance of sustainable revenue
generation.
In light of the press speculation, the Company yesterday
requested that its shares are temporarily suspended on the AQSE
Growth Market, pending finalisation of its acquisition discussions
and trading will now be restored.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
ENDS
Enquiries:
Voyager
Nick Tulloch - nick@voyagerlife.uk / +44 (0) 1738 317 693
http://voyagerlife.uk
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti or Liam Murray +44 (0) 20 7213 0880
Notes to Editors:
About Voyager
Voyager was founded in 2020 and is based in Perth, Scotland. The
Company's primary objective is the formulation and supply of high
quality CBD and hemp seed oil products although it also produces
several other complementary products, the majority of which are
manufactured from the hemp plant. Its product categories include a
pet range which has rapidly developed into one of the Company's
best sellers. The Company sells online, through third party stores
and in its own stores which are located in St Andrews, Edinburgh
and Dundee. The Company has two principal retail brands: Voyager,
focused on health & wellness, and Ascend Skincare, our beauty
range. Voyager products are currently available from Cornwall to
Shetland in over 100 online and brick-and-mortar outlets.
The Company's philosophy of plant-based health and wellness is
embodied in its mission statement and hashtag of "Choose you". With
an experienced team and a product line created in line with the
UK's regulatory regime, Voyager aims to become the trusted brand in
this increasingly popular health and wellness space.
Through Voyager's bespoke skincare product creation and
development division , voyagerCann , the Company also offers a full
turnkey service to other CBD and cosmetics companies assisting them
in developing and launching new products.
Website and social media links:
Voyager:
https://voyagercbd.com/
https://www.instagram.com/voyagercbd/
https://twitter.com/voyagercbd
https://www.linkedin.com/company/voyager-cbd/
https://www.facebook.com/voyagercbd/
voyagerCann:
https://voyagercann.com/
https://www.instagram.com/voyagercann/
https://twitter.com/voyagercann/
https://www.linkedin.com/company/voyagercann/
https://www.facebook.com/voyagercann/
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END
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