09 February 2024

VSA Capital Group plc

("VSA" or the "Company")

Corporate update

VSA Capital Ltd ("VSA") and Andrew Gerrie and Alison Hawksley (the "Attempted Transferors") jointly announce that they have settled their legal dispute relating to the 2,282,127 ordinary shares in Silverwood Brands PLC ("Silverwood") that had been transferred by the Attempted Transferors to VSA (the "VSA Consideration Shares"). 

VSA confirms that pursuant to the settlement it has returned the VSA Consideration Shares to Andrew Gerrie, and VSA has agreed to cooperate with the Attempted Transferors' objective of achieving, with the approval of Silverwood, an "unwind transaction" which is intended to achieve the cancellation of the Consideration Shares (including the VSA Consideration Shares). 

The parties are pleased to have been able to resolve their dispute and VSA withdraws its earlier criticisms of the Attempted Transferors' claim seeking the return of the VSA Consideration Shares. None of the parties makes or maintains any allegations against the other. The Company believes the settlement reached is in the best interest of VSA and its shareholders.

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