Investor Luke Heron is to buy ethical etailer Adili and the retailer will be delisted from AIM.
Adili, which now trades as Ascension, had suspended its shares earlier this month after failing to secure finance for future funding.
The board looked at several options for the business and concluded there was no viable option to realise the shareholder’s value and has conditionally agreed to sell its entire share capital to a newly incorporated limited company and will be owned by Luke Heron who has also invested in brands such as eco-friendly baby product business Greenbaby. He will be sold the company for £1.
Heron has said he intends to trade Adili.com as a going concern through significant operating synergies with his existing online enterprises.
Without this sale Adili would have had to cease trading. It hopes that through this deal it can have a future and curb any job loses.
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