Rapid Nutrition Achieves Noteworthy Milestones in the First Half of 2023
London, UK – August 28, 2023 – Rapid Nutrition PLC (Euronext Growth: ALRPD), a global nutritional supplement company, shares its significant accomplishments and notable milestones for the first half of 2023, aligning seamlessly with the strategic roadmap delineated earlier in the year.
The initial six months of 2023 have been characterised by substantial strides and expansion for Rapid Nutrition, underscored by tactful initiatives, financial outcomes, and an extension into fresh markets. The company remains steadfast in its commitment to providing pioneering, top-tier nutritional products that cater effectively to the evolving preferences of consumers.
Highlights from the First Half of 2023:
Announcement of FY 2022 Results
Rapid Nutrition unveiled its financial results for the fiscal year 2022, revealing a consistent pattern of performance in line with management expectations. These outcomes unequivocally underscore the company's steadfast commitment to delivering substantial value to its stakeholders.
EUR 3 million Funding Agreement
Rapid Nutrition has secured a financing commitment of up to EUR 3 million from Atlas Special Opportunities LLC. It is noteworthy that the company has drawn down only EUR 1 million from this strategic funding. The aforementioned funding has been allocated to bolstering product development and market expansion. Notably, the residual EUR 2 million has been designated for potential acquisition activities, and its utilisation, if deemed necessary, will serve the purpose of further expanding Rapid Nutrition's market presence and augmenting its offerings.
Progressive Strides in Brand Identity and International Expansion
Rapid Nutrition has unveiled an updated brand identity for its flagship weight loss brand, SystemLS. This strategic move underscores the organisation's ability to adapt to prevailing global market trends and underscores its unwavering dedication to exceeding customer expectations.
Held is Annual General Meeting
The company’s AGM was held on the 21st June, with all resolutions being approved by shareholders, reinforcing shareholder sentiment enabling the company to be well positioned to capitalise on key growth initiatives with a view of enhancing long term shareholder value.
Inroads into the Flourishing Asia Pacific Market
With a targeted focus on entering the burgeoning Asia Pacific and European markets, Rapid Nutrition has realised considerable headway in the advancement of production for its flagship products, SystemLS and Azurene. Anticipated completion of production within this quarter, and aligned with the approach of the Northern Hemisphere Winter, emphasises the company's unswerving dedication to catering to diverse markets.
Innovative Customized Vitamin Packs
Rapid Nutrition has unveiled plans for an upcoming personalised health service, which is set to introduce personalised vitamin packs customised to suit individual health requirements. This innovative stride serves as a testament to Rapid Nutrition's resolute commitment to enhancing customer experiences through tailored solutions.
Statement from the CEO
Mr. Simon St Ledger, CEO of Rapid Nutrition, has expressed his enthusiasm for the company's achievements, affirming that "The initial half of 2023 has served as a foundational phase for Rapid Nutrition. Our strategic initiatives, financial performance, and market expansions are emblematic of our unwavering dedication to excellence and innovation. We eagerly anticipate the upcoming months and our continued efforts in delivering exceptional value to both our esteemed customers and stakeholders."
For a comprehensive understanding of Rapid Nutrition's milestones and ongoing developments, we cordially invite you to visit the company's official website and the dedicated news section, accessible at https://www.rnplc.com/news/.
About Rapid Nutrition
Dedicated to the development and distribution of premium, science-based health and wellness brands across the globe, Rapid Nutrition shares a wealth of award-winning products with consumers who are passionate about innovations that are “made by nature, refined by science.” Rapid Nutrition’s first-class scientific team matches the experience of its management team to keep both the company and consumers on top of the latest industry trends and developments, while aligning with industry leaders worldwide to deliver effective supplements and solutions. Rapid Nutrition aims to be the supplier of choice globally by offering premium brands with the highest-quality ingredients to deliver maximum results.
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Disclaimer
This press release contains forward-looking statements made pursuant to 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 Rapid Nutrition PLCs actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Rapid Nutrition PLC undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
This media information does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. This information does not constitute an offering prospectus within the meaning within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 of June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71 or a listing prospectus within the meaning of the listing rules of the Euronext Exchange or OTC Markets. The media release is in accordance with International Reporting Standard: Rule 12g3-2(b) under the Securities Exchange Act ('Rule 12g3-2(b)') permits non-U.S. companies with securities listed primarily on a Qualified Foreign Exchange to make publicly available to U.S investors in English the same information that is made publicly available in their home countries as an alternative to SEC reporting Exchange Act Rule 12g3-2(b).