3rd Feb 2025 12:22
(Alliance News) - Rogue Baron PLC on Monday announced its decision to change its investment strategy, focusing on the natural resources sector instead of the drinks industry.
The holding company, currently centred around premium spirit and wine brands, intends to rename itself Richmond Hill Resources PLC subject to shareholder approval.
"Following extensive review and deliberation by the board regarding shareholder value and the long-term success of the company, it was determined that the company's continued investment in the drinks industry is not and will not deliver sufficient value," Rogue Baron explained.
The London-registered company does not expect "current challenges" to "change within a timeframe which will make retaining its current business viable".
"Conversely, the directors believe a change of strategy to the natural resources market will increase the likelihood of being able to raise funds and generate returns for shareholders in the medium and long term," it said.
Rogue Baron, which noted "the expertise of the board in the natural resources sector", also announced the immediate resignation of Non-Executive Director Tomoya Daimon "to concentrate on his other business opportunities". Daimon has worked in the Japanese wine and spirits industry for over a decade.
The company intends to dispose of its drinks businesses and subsidiaries "at the relevant time".
Subsequently, Rogue Baron "will look to make acquisitions in the natural resources sector with a particular focus on the North American base and/or precious metals assets and with the intention of entering into a reverse takeover".
The company announced an extraordinary general meeting, seeking shareholder approval for the changes, to be held on February 21.
Shares in Rogue Baron were flat at 0.275 pence at London's AQSE exchange early on Monday afternoon.
By Emma Curzon, Alliance News reporter
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