Rockpool reports interim results, plans lingerie group buy By Investing.com

LONDON – Rockpool Acquisitions Plc (LSE:ROC), a Special Purpose Acquisition Company (SPAC), has released its unaudited interim results for the six months ending September 30, 2024. The company reported a loss of £113,356, which marks a significant reduction from the previous year’s loss of £347,999 during the same period. This decrease is primarily due to the diminished activity and lower professional costs associated with the previously proposed but terminated acquisition of Amcomri Group Limited.

On December 18, Rockpool announced it had signed heads of terms for a reverse takeover of European Lingerie Group AB (“ELG AB”), with plans to re-admit its shares to the Equity Shares (Commercial Companies) category of the Official List and the Main Market of the London Stock Exchange (LON:). Trading in Rockpool’s shares has been suspended pending the outcome of this transaction.

The interim results also highlighted the recovery of £452,500 in costs from Amcomri after the latter withdrew from the acquisition deal earlier this year. Rockpool’s cash and cash equivalents were reported at £94,895 before this post-period-end receipt.

ELG AB, a Swedish company, holds a 70% stake in SIA European Lingerie Group, the parent company of a group involved in producing and wholesaling intimate apparel and fabrics. ELG AB is in the process of acquiring the remaining 30% of ELG SIA and is undertaking an asset disposal, debt reduction and refinancing program aimed at improving its EBITDA for 2025.

Rockpool aims to complete the acquisition of ELG AB and its re-admission to the stock market in the first half of 2025, possibly before July 29, 2025, which could save costs by avoiding the need for a sponsor in the readmission process.

The board expressed gratitude to shareholders and advisers for their continued support and is focused on completing due diligence, fundraising, and acquisition documentation for ELG AB.

This article is based on a press release statement from Rockpool Acquisitions Plc.

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