Logistics Development Group plc
(the “Company” and, with its subsidiaries , the “Group”)
Interim Results for six months ended 31 May 2023
Logistics Development Group plc, the AIM-quoted investing company, announces its unaudited interim results for the six months ended 31 May 2023.
Summary for the reporting period
During the period ending 31 May 2023, the Company, via its subsidiary Fixtaia Limited (“Fixtaia”), made the following investments:
- • Acquisition of an approximately 9.1% see-through stake in SQLI S.A. (ENXTPA: SQI) (“SQLI”), via Synsion TopCo, a private holding company of a group of companies formed by DBAY Advisors Limited (“DBAY”) specifically to invest in SQLI. SQLI is a digital commerce and services agency. The investment into Synsion TopCo was initially made by way of a €18.5m loan. Synsion TopCo capitalised the loan in return for the issue of shares in Synsion TopCo and made a repayment in cash of approximately €4.1m. At the period end the number of Synsion TopCo shares held indirectly by the Company was 992,122,612, representing 11.1% of Synsion TopCo shares, and corresponding to a see-through stake in SQLI of approximately 9.1%.
- • Acquisition of c. 10.3% of the share capital of Alliance Pharma Plc (AIM: APH LN) (“Alliance”). Alliance is an international healthcare group founded in 1996 and headquartered in the United Kingdom. Alliance acquires, markets and distributes consumer healthcare and prescription medicine products. At the period end the number of Alliance shares held indirectly by the Company was 55,593,562, representing 10.3% of Alliance’s issued share capital, for a consideration of £33.4m.
- • Acquisition of c. 0.1% of the share capital of Finsbury Foods Group PLC (AIM: FIF LN) (“Finsbury”). Finsbury is a leading UK speciality bakery manufacturer of cake, bread and morning goods for both the retail and foodservice channels. At the period end the number of Finsbury shares held indirectly by the Company was 11,763,979, representing 9.0% of Finsbury’s issued share capital, for a consideration of £9.3m.
- • Acquisition of c. 2.8% of the share capital of Trifast Plc (AIM: TRI LN) (“Trifast”). Trifast is an international specialist in design, manufacturing, and distribution of industrial and Cat C fastenings. Trifast has 34 locations within the UK, Asia, Europe and the USA. Trifast supply components to over 5,000 companies globally across a wide range of industries. At the period end the number of Trifast shares held indirectly by the Company was 3,805,158 shares, representing 2.8% of Trifast’s issued share capital, for a consideration of £2.7m.
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