9th Mar 2006 13:14
Sweet China PLC09 March 2006 Sweet China plc, acquisition of Essential Box Confectionery Limited Following the announcement made on 30 November 2005 the directors of Sweet Chinaplc (the "Company") are pleased to announce that the Company has offered,subject to contract, to acquire the entire issued share capital of The EssentialBox Confectionery Limited and its subsidiary undertakings including its tradingsubsidiary, The Essential Box Hong Kong Limited. The Essential Box Hong Kong Limited is involved in the design, manufacture andsale of confectionery and confectionery gift products covering markets inAustralasia, North America and the United Kingdom. Essential Box ConfectioneryLimited owns a number of recognised confectionery brands including "JessicaWalker" and "Lings Traditional Confectionery" and is 100% owned by Ian Walker. The proposed transaction is intended to be a strategic acquisition for theCompany which will establish both a trading and manufacturing base in China andcreate a local presence to enable further acquisitions to proceed more readily. In the event the negotiations and commercial due diligence (which havecommenced) are completed satisfactorily and a binding contract entered into, theacquisition will amount to a "reverse takeover" under the AIM Rules and willrequire shareholders' approval. A further announcement will be made in due course. For further information, please contact: Chris Cleverly, Chief Executive, Sweet China plc- (020) 7404 0777 / 07985 417723 Emily Morgan, Rowan Dartington & Co. Limited - (0117) 933 0020 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SWC.L