LONDON, UK / ACCESSWIRE / August 3, 2021 / Rapid Nutrition PLC (Euronext Growth: ALRPD) (OTCQB: RPNRF), a naturopathic company specializing in sports nutrition, diet management and life sciences products with growing global sales, has further streamlined the company’s balance sheet in pursuit of its industry consolidation strategy strengthen investor confidence.
The company is pleased to announce that it recently completed a cashless transaction that will allow Rapid Nutrition to get back approximately 1.4 million shares from a major shareholder, Motivate Technologies, Inc. (“MHT”). In return, Rapid Nutrition will ditch its stake in MHT, which was difficult to assess due to the impact of the pandemic and therefore the company had written off the value of its financial assets to MHT on its balance sheet, as in the last annual report. The transaction allows Rapid Nutrition to get back 100 percent of its initial investment in MHT and will have no impact on Rapid Nutrition’s underlying core business.
“We look forward to continuing to control our own destinies as management continues to achieve important milestones and financial goals this year,” said Simon St. Ledger, CEO of Rapid Nutrition. “We believe in the value of Rapid Nutrition stocks as we continue to strengthen both our balance sheet and our position in the global health and wellness market.”
About fast nutrition
Dedicated to developing and distributing world-class, science-based health and wellness brands around the world, Rapid Nutrition shares a plethora of award-winning products with consumers passionate about innovations “made by nature, refined by science” . Rapid Nutrition’s world-class scientific team combines the experience of its management team to keep both the company and consumers updated on the latest industry trends and developments, while working with industry leaders worldwide to provide effective nutritional supplements and solutions. Rapid Nutrition aims to be the supplier of choice worldwide by offering premium brands with the highest quality ingredients for maximum results.
More information is available at http://rnplc.com
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This press release contains forward-looking statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and / or otherwise that involve risks, uncertainties and assumptions that could cause the actual results and experiences of Rapid Nutrition PLCs to differ materially the expected results and expectations that are expressed in these forward-looking statements. Rapid Nutrition PLC has made forward-looking statements in some instances through the use of the words “expects,” “believes,” “hopes,” “estimates,” “looks”, “expects,” “plans,” “intends”, “goal.” “,” Potential, “” may, “” suggest “and similar expressions. Rapid Nutrition PLC undertakes no obligation to publicly release the results of revisions to any such forward-looking statements that are made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unforeseen events, unless otherwise required by applicable law or regulation .
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SOURCE: Rapid Nutrition Plc
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