Just Life Group Divests The Cylinder Guy in Strategic Move

Highlights:

• Strategic Sale: Just Life Group (NZX: JLG) has sold its hot water cylinder installation and service subsidiary, The Cylinder Guy, effective December 1, in a move to streamline its operations.
• Market Transition: The sale follows JLG's delisting from the New Zealand Exchange (NZX) and subsequent listing on the Unlisted Securities Exchange (USX), reflecting its shift in market strategy.
• Focus on Core Operations: CEO Tony Falkenstein emphasized that the divestment allows JLG to concentrate on its primary business areas, enhancing operational efficiency and positioning the company for future growth.

Company Streamlines Portfolio Amid Market Transition

Formerly listed on the New Zealand Exchange (NZX), Just Life Group (JLG) has successfully sold its hot water cylinder installation and service subsidiary, The Cylinder Guy, for an undisclosed amount. This strategic move marks a significant step in JLG's efforts to streamline its operations as it transitions to the Unlisted Securities Exchange (USX).

In a press release issued on the USX on Friday, Just Life Group announced that it has entered into a binding agreement to complete the sale of The Cylinder Guy, effective December 1. The decision comes shortly after JLG's delisting from the NZX earlier this year, a move that reflects the company’s ongoing efforts to focus on its core business areas.

Tony Falkenstein, the founder and CEO of Just Life Group, emphasized the importance of this divestment in aligning the company’s resources and strategy. "By selling The Cylinder Guy, we are positioning Just Life Group to concentrate on our primary business operations while optimizing our portfolio for future growth," Falkenstein stated.

The sale of The Cylinder Guy comes at a time when Just Life Group aims to enhance its operational efficiency and profitability. At the time of writing, details regarding the buyer of The Cylinder Guy have not been disclosed, but the transaction is expected to enable JLG to redirect its focus toward its remaining businesses.

As Just Life Group continues to navigate the evolving market landscape, the company’s decision to divest its non-core operations signals a commitment to strategic growth and sustainability in the long term. Investors will be watching closely to see how this move impacts JLG's performance in the coming months.

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