Strix Group PLC Proposed Acquisition (3094P)
February 07 2019 - 1:00AM
UK Regulatory
TIDMKETL
RNS Number : 3094P
Strix Group PLC
07 February 2019
7th February 2019
Strix Group Plc
("Strix" or the "Group")
Proposed Acquisition
Strix Group Plc (AIM: KETL), the global leader in the design,
manufacture and supply of kettle safety controls and other
complementary water temperature management components, is pleased
to announce it has made an offer, subject to certain conditions, to
acquire specified assets from HaloSource Corporation ("Halosource")
for approximately $1.3m in cash.
Halosource is a clean water technology company, admitted to
trading on AIM, with operations in the US and China. Strix has
offered to acquire certain US and Chinese assets which will assist
in accelerating its strategy to expand and grow its water
filtration division.
The acquisition is subject, amongst other things, to the
negotiation of mutually acceptable legal documentation and the
approval of HaloSource shareholders.
Strix will make a further announcement in due course.
Enquiries:
Strix Group Plc +44 (0) 1624 829 829
Mark Bartlett, CEO
Raudres Wong, CFO
Zeus Capital Limited (Nominated Advisor
and Joint Broker) +44 (0) 20 3829 5000
Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance)
Canaccord Genuity Limited (Joint
Broker) +44 (0) 20 7523 8000
Chris Connors / Michael Reynolds
IFC Advisory Limited (Financial PR
and IR) +44 (0) 20 3934 6630
Graham Herring / Tim Metcalfe / Heather
Armstrong
ABOUT STRIX GROUP PLC
Isle of Man based Strix, is a global leader in the design,
manufacture and supply of kettle safety controls and other
components and devices involving water heating and temperature
control, steam management and water filtration.
Strix's core product range comprises a variety of safety
controls for small domestic appliances, primarily kettles. Kettle
safety controls require precision engineering and intricate
knowledge of material properties in order to repeatedly function
correctly. Strix has built up market leading capability and
know-how in this field since being founded in 1982.
Strix is admitted to trading on the Alternative Investment
Market of the London Stock Exchange (AIM: KETL).
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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