DATE: 21 September 2023

VSA Capital Group plc

("VSA" or the "Company")

Update on Silverwood Brands PLC

VSA Capital Group plc (Aquis: VSA), the international investment banking and broking firm notes the share price fall of Silverwood Brands Plc ("Silverwood") yesterday, falling 50% to 30p, now valuing that company at £77.5m. VSA Capital holds 0.88% of Silverwood's total share capital. 

The fall in Silverwood's share price is likely to have a significant effect on our interim results to 30 September 2023 and a larger than expected loss will occur.  This will be a non-cash loss because investments will be marked to market at the period end. We are hopeful that the share price will recover before our year end of 31 March 2024. If it does not, then our full year audited figures are likely to show a loss for the year due to the non-cash adjustment despite still having a cautiously optimistic view on our second half due to transactions we are working on.

VSA remains a supportive shareholder of Silverwood Brands and is subject to a simple undertaking not to dispose of its shares, for a period of 12 months, apart from in certain limited circumstances. 

VSA Capital also notes that Peterhouse Capital has today been appointed as Aquis Corporate Adviser to Silverwood.

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