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Wellness and Beauty Solutions (ASX:WNB) - CEO, Christine Parkes - The Market Herald
CEO, Christine Parkes
Source: Professional Beauty
  • Wellness and Beauty Solutions (WNB) has signed a binding business sale agreement to sell its Immersion Clinical Spas to Aesthetica Group
  • The total cost of the sale is $1.1 million, with $550,000 to be received on completion and the remaining $550,000 in July 2021
  • This sale also consists of the transfer of employee entitlements, trademarks, registrations, social media channels, and the website
  • WNB is up 8.33 per cent in early morning trade and shares are trading for 0.7 cents

Wellness and Beauty Solutions (WNB) has signed a binding business sale agreement to sell its Immersion Clinical Spas to Aesthetica Group.

The total cost of the sale is $1.1 million, with $550,000 to be received on completion and the remaining $550,000 in July 2021.

Under this sale, employee entitlements, trademarks, registrations, social media channels, and the website will all be transferred.

"The divestment of the Clinics allows the company to be singularly focussed in its objective to build a global wellness and lifestyle business, a segment that continues to grow rapidly," Managing Director Christine Parkes commented.

"Our product businesses are expanding and offer significant short-and-long term opportunities for our shareholders," she said.

"The clinics are no longer the core of our business and we believe that Aesthetica Group has the experience in the industry to successfully develop and grow Immersion Clinical Spas," she added.

WNB is up 8.33 per cent in early morning trade and shares are trading for 0.7 cents


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