AUS
NZ
UK
CA
USA
IND
Highlights
- Reverse Takeover Plans: Rockpool targets the acquisition of European Lingerie Group AB (ELG AB), with re-admission to the London Stock Exchange's Main Market.
- Improved Financial Performance: Reported losses reduced to £113,356, down from £347,999 in 2023, due to lower transaction-related costs.
- Cash Position Strengthened: £452,500 received post-period from the terminated Amcomri deal.
Rockpool Acquisitions Plc (LSE:ROC), a Special Purpose Acquisition Company (SPAC) listed on the London Stock Exchange, has announced its unaudited interim results for the six months ending 30 September 2024.
Financial Highlights
The Company reported a reduced loss of £113,356 for the period, compared to £347,999 in the same period last year. This improvement is attributed to lower professional costs following the termination of the proposed Amcomri Group acquisition. As of 30 September 2024, Rockpool’s cash and cash equivalents stood at £94,895, excluding a post-period receipt of £452,500 from Amcomri for transaction-related costs.
Ongoing expenses during the period included maintaining the Company’s listing on the Main Market, audit and legal fees unrelated to acquisitions, administrative costs, and loan interest payments.
Strategic Developments
On 18 December 2024, Rockpool signed heads of terms for a Reverse Takeover (RTO) of European Lingerie Group AB (ELG AB), signaling a strategic pivot. This acquisition will lead to the Company's re-admission to the Equity Shares (Commercial Companies) category of the Official List and the Main Market of the London Stock Exchange.
Rockpool’s earlier focus on acquiring Amcomri Group Limited consumed significant resources before the transaction was terminated. Following the withdrawal, the Company received £452,500 to cover associated costs, bolstering its financial position.
Outlook
Rockpool has commenced due diligence on ELG AB and its subsidiaries as part of the Reverse Takeover process. The next steps include preparing acquisition documentation and drafting a prospectus. Additionally, Rockpool is supporting ELG AB in its pre-RTO fundraising efforts.
The Company remains optimistic about its strategy to secure and deliver value through acquisitions, with the ELG AB deal marking a significant milestone in its growth trajectory.
