Rockpool Acquisitions reports profit, eyes lingerie group takeover

LONDON - Rockpool Acquisitions Plc (LSE:ROC), a Special Purpose Acquisition Company (SPAC) listed on the London Stock Exchange (LON:LSEG), has released its audited financial statements for the nine months ending December 31, 2024. The company reported a profit before tax of £239,300, a significant turnaround from the £505,677 loss in the preceding 12-month period.

The financial update comes after a strategic alteration of the fiscal year-end from March 31 to December 31, 2024, which resulted in the current reporting period covering nine months from April 1, 2024. As of the end of this period, Rockpool held £429,294 in cash and cash equivalents.

A key development for Rockpool was the announcement on December 18, 2024, of a heads of terms agreement for a reverse takeover of European Lingerie Group AB (ELG AB). This move, if completed, would see Rockpool re-admitted to the Equity Shares (Commercial Companies) category of the Official List and the Main Market of the London Stock Exchange. ELG AB, a significant entity with a long trading history, reported an unaudited turnover of no less than €54 million (around £44 million) and an adjusted EBITDA of no less than €2.1 million (approximately £1.7 million) for the year 2023.

Following the reverse takeover announcement, trading in the company’s ordinary shares was suspended, pending re-admission or termination of the transaction. The successful completion of the deal and subsequent re-admission are targeted for December 2025, though this may be subject to delays.

Non-Executive Chairman Richard Beresford expressed optimism about the proposed transaction with ELG AB, noting progress towards finalizing the deal and achieving re-admission. He indicated that further updates would be provided to shareholders in due course.

This financial disclosure and corporate update is based on a press release statement from Rockpool Acquisitions Plc.

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