Silverwood Brands (LON: SLWD) has secured a suitable reverse takeover target. Balmonds Skincare, which manufactures products for people with skin conditions, such as eczema, psoriasis and dermatitis. The initial consideration is in shares and will equate to 41.7% of the enlarged share capital and 54.4% if the full payment is made.
Last November, Silverwood Brands raised £1.03m at a placing price of 40p. The share price soared in the first month of trading and it reached 110p, but it has fallen back to 65p. The consideration shares are being issued at a notional price of 85p each.
The to...
