Rockpool Acquisitions PLC
18 August 2026
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Press release |
18th August 2026 |
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Rockpool Acquisitions Plc
("Rockpool" or "the Company")
Update on the potential Reverse Takeover of European Lingerie Group AB ("ELG")
In the Company's annual report for the year ended 31 March 2026, published on 31 July, the Company reported that European Lingerie Group (ELG), the Company's takeover target, was in advanced discussions with an investorregarding the investment of an amount sufficient to allow for the refinancing or regularisation of its existing debt facilities and to eliminate its shortfall in working capital. Such funding would also have put ELG in a position to meet its obligations to make payments to Rockpool by way of contribution to costs incurred by it in relation to the proposed acquisition of ELG and preparations for readmission to the market following the completion of that transaction. We are disappointed to announce that discussions with that particular investor have ended due to the amount of the potential funding being too low for the investor's criteria. ELG continue to pursue discussions that it had already initiated with alternative funders and is seeking new potential sources as well.
This development will cause further delay in recommencing the work towards the acquisition of ELG and preparations for readmission to the market following the completion of that transaction. It will also delay and may jeopardise the ability of Rockpool to recover the sums owed to it by ELG. If Rockpool does not recover the sums owed to it by ELG, its medium-term financial viability will be adversely impacted.
Further updates will be provided as and when appropriate.
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For further information please contact:
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Rockpool Acquisitions Plc |
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Mike Irvine, Non-Executive Director |
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Novella Communications (Financial PR) |
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Tim Robertson |
Tel: +44 (0)203 151 7008 |
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