TIDMBAGR

RNS Number : 9494A

Bagir Group Ltd

04 January 2018

4 January 2018

Bagir Group Ltd.

("Bagir" or the "Company")

Update relating to strategic partnership with Shandong Ruyi

Bagir (AIM: BAGR), a designer, creator and provider of innovative tailoring, provides an update in relation to its proposed strategic partnership with Shandong Ruyi Technology Group Ltd ("Shandong Ruyi Group"), a leading Asian global textile manufacturer, under which Shandong Ruyi will invest $16.5 million to acquire c.54%(1) of the Company's enlarged issued share capital. Further details are contained in Bagir's announcement of 23 November 2017.

Shandong Ruyi Group has updated Bagir that it has made the transfer of the $1.65m initial deposit payment to Bagir. Bagir will update the market once this payment has been received.

(1) Approx. 51% fully diluted

For further information, please contact:

 
Bagir Group Ltd.                        via Novella Communications on: 
 Eran Itzhak, Chief Executive Officer    +44 (0) 20 3151 7008 
 Udi Cohen, Chief Financial Officer 
 Tessa Laws, Non-Executive Chairman 
N+1 Singer 
 Alex Price                             +44 (0) 20 7496 3000 
Novella 
 Tim Robertson 
 Toby Andrews                           +44 (0) 20 3151 7008

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

January 04, 2018 03:00 ET (08:00 GMT)

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