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Glisten forms joint venture with Sahar Hashemi

5th October 2007

Snack and confectionery food group Glisten PLC said it has formed a joint venture with Skinny Candy Ltd.

Glisten said the joint venture vehicle has acquired the brand and certain assets of Skinny Candy from its founder Sahar Hashemi for 150,000 stg, satisfied by the payment of 75,000 stg in cash and an allotment of 19,531 Glisten shares.

It said Hashemi and Glisten's chief executive Paul Simmonds will be the directors of this new, equal joint venture.

Glisten is planning to integrate Skinny Candy into its sales and marketing programme.

Sahar practices what she preaches in her talks about intrapreneurship ie being an entrepreneur as part of a large organisation.  

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