(Alliance News) - Zamaz PLC on Thursday said it will change its name to Dispensa Group PLC, with further announcements in the future, as it announced a new chair.

The London-based e-commerce and retail technology aggregator of sustainable brands has a luxury food subsidiary named Bella Dispensa SRL.

Zamaz also changed its financial year-end to December 31 from August 31 to align itself with the calendar year and the accounting reference date of its operating subsidiaries. It expects to release its next full financial year results in April, covering the 16-month period from September 1, 2022 to December 31, 2023.

In addition, Zamaz will publish results for the 12 months to August 31 by the end of November 2023.

Dispensa's growth strategy "is to acquire entrepreneur-led, family-owned, specialty food brands producing regional products of exceptional quality, which are not yet exposed to global markets," Zamaz said. "To enable these companies to penetrate wider international markets, Dispensa facilitates a process of digital transformation leading to higher margins and increased brand value."

Further, Zamaz announced the promotion of Niccolo Caderni to chair from non-executive director, effective Thursday. Former chair Martin Groak has moved to non-executive director, Zamaz said.

Shares were untraded at 5.25 pence each on Thursday in London.

By Tom Budszus, Alliance News reporter

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