Voyager Life PLC - Temporary Suspension
RNS Number : 2319B
Voyager Life PLC
30 September 2022
 

 

30 September 2022

 

Voyager Life plc

 

("Voyager" or the "Company") 

 

Response to Press Speculation

 

Voyager, the health and wellness company supplying high-quality Cannabidiol (CBD), hemp seed oil and hemp-related products, notes speculation in the press yesterday about a potential acquisition under Board consideration.

 

As announced in the publication of its annual report last month, the Company has been examining potential consolidation and partnership opportunities.  Merger and Acquisition activity has already been evident in the UK CBD sector and the board of directors expect this to continue.  With its strong balance sheet (£1.17 million cash as at the date of the annual report on 12 August 2022) and its management team, Voyager has already received several enquiries but also is exploring other opportunities of which it is aware.

 

One example of these was the possibility of acquiring the business and assets of Tree of Life UK Limited from the administrators and it was this potential acquisition that was disclosed in a press article yesterday.  This business had previously been one of the UK's most successful distributors of healthy, natural and organic products and the Directors of Voyager considered that the vertical integration with the Company's product range and own brand manufacturing could create value for its shareholders.  Nevertheless, for a number of reasons - including several risks which were outlined in the press, the Directors have concluded that this is not an acquisition that the Company should pursue and, consequently, talks have since ended.

 

Voyager remains committed to its principles of sound financial management and transparent corporate governance.  As the market in which it operates consolidates and further opportunities present themselves for Voyager to expand its range of activities, the Directors will continue to examine potential collaborations and combinations whilst at all times maintaining its conservative approach to running costs and the importance of sustainable revenue generation.

 

In light of the press speculation, the Company yesterday requested that its shares are temporarily suspended on the AQSE Growth Market, pending finalisation of its acquisition discussions and trading will now be restored.

 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

 

ENDS

 

Enquiries:

Voyager

Nick Tulloch - nick@voyagerlife.uk / +44 (0) 1738 317 693

http://voyagerlife.uk

 

Cairn Financial Advisers LLP (AQSE Corporate Adviser)

Ludovico Lazzaretti or Liam Murray +44 (0) 20 7213 0880

 

 

Notes to Editors:

 

About Voyager

Voyager was founded in 2020 and is based in Perth, Scotland.  The Company's primary objective is the formulation and supply of high quality CBD and hemp seed oil products although it also produces several other complementary products, the majority of which are manufactured from the hemp plant.  Its product categories include a pet range which has rapidly developed into one of the Company's best sellers.   The Company sells online, through third party stores and in its own stores which are located in St Andrews, Edinburgh and Dundee.  The Company has two principal retail brands: Voyager, focused on health & wellness, and Ascend Skincare, our beauty range.  Voyager products are currently available from Cornwall to Shetland in over 100 online and brick-and-mortar outlets.

 

The Company's philosophy of plant-based health and wellness is embodied in its mission statement and hashtag of "Choose you". With an experienced team and a product line created in line with the UK's regulatory regime, Voyager aims to become the trusted brand in this increasingly popular health and wellness space.

 

Through Voyager's bespoke skincare product creation and development division, voyagerCann, the Company also offers a full turnkey service to other CBD and cosmetics companies assisting them in developing and launching new products.

 

Website and social media links:

Voyager:

https://voyagercbd.com/

https://www.instagram.com/voyagercbd/

https://twitter.com/voyagercbd

https://www.linkedin.com/company/voyager-cbd/

https://www.facebook.com/voyagercbd/

 

voyagerCann:

https://voyagercann.com/

https://www.instagram.com/voyagercann/

https://twitter.com/voyagercann/

https://www.linkedin.com/company/voyagercann/

https://www.facebook.com/voyagercann/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NEXKZGZLKLDGZZM ]]>