Announcement
Integumen PLC : Letter of Intent with Champion Shave
RNS Number : 1832A
Integumen PLC
22 December 2017
Integumen plc
("Integumen" or "the Company")
Integumen signs Letter of Intent with men's grooming company Champion Shave
Shareholders of Champion Shave include Usain Bolt and Ronaldinho
Integumen (LSE: SKIN), the personal health care company developing and commercialising technology and products for the human integumentary system, is pleased to announce it has on 21 December 2017 signed a non-binding letter of intent ("LoI") with Champion Shave Inc ("Champion Shave"), a men's grooming company whose shareholders include Usain Bolt, the fastest man on the planet, and Ronaldinho, one of the greatest footballing legends, amongst others, to establish a joint venture under which Integumen will be able to distribute Champion Shave's range of blade shaving systems in the United Kingdom and the Republic of Ireland (the "Agreement"). Champion Shave produces and distributes high-end razor blades at an affordable price.
The LoI envisages that a five-year exclusive agreement ("Agreement") will be signed by the end of January 2018 enabling Integumen to use Champion Shave's EU Trademark and branding, and to distribute the Champion Shave products both online and offline in the United Kingdom and the Republic of Ireland. It is expected that under the Agreement, Integumen will manage online sales including warehousing and third-party logistics (3PL) agreements and sign all offline and retail distribution agreements. Champion Shave will work alongside the Company to advertise the brand by continuing to sign on world class athletes as well as top European football clubs. The joint marketing of Champion Shave will include promotional activities such as free ticket giveaways, the opportunity to meet athletes, and autographed memorabilia which will be made available on all digital platforms. It is expected that Integumen will have the rights to negotiate the distribution of Champion Shave products to all other European Free Trade Association territories. To date, Champion Shave has launched in nine markets globally.
The LoI envisages that on signing the Agreement, consideration in the form of ordinary shares of 1p each in the share capital of the Company ("Shares") will be due to Champion Shave. It is anticipated that Shares constituting up to 10 per cent. of the current issued share capital will be issuable, which will phased as to 4 per cent. on signing, with up to a further 6 per cent. contingent on sales performance. In addition Champion Shave is expected to receive a royalty on all sales made. The Company will make a further more detailed announcement as and when the Agreement is signed.
Declan Service, CEO of Integumen, said:
"In line with our objective, an agreement with Champion Shave will broaden Integumen's portfolio of products and enables us to accelerate our revenue generation. Champion Shave is a brand proposition backed and owned by world class athletes like Usain Bolt and we look forward to working with them to make it one of the leading razor brands in the UK and the Republic of Ireland."
Usain Bolt, a shareholder of Champion Shave said:
"The Champion Shave team is excited to work with Integumen to get into the UK and Irish markets to give people the chance to "Feel like Champions" by having an amazing shave at an incredible price."
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Integumen plc |
Declan Service, CEO
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+ 353 (0) 87 770 5506 |
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SPARK Advisory Partners Limited (Nominated Adviser)
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Neil Baldwin/Andrew Emmott |
+44 (0) 113 370 8974 |
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Turner Pope Investments (TPI) Ltd (Broker)
Hybridan LLP (Broker)
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Ben Turner/James Pope
Claire Noyce
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+44 (0) 20 3621 4120
+44 (0) 203 764 2341 |
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Cardew Group |
Shan Shan Willenbrock David Roach
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+44 (0) 20 7930 0777
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