Trading Statement
14 Janvier 2008 - 8:30AM
UK Regulatory
FACES COSMETICS PLC ("FACES COSMETICS" OR THE "COMPANY")
TRADING STATEMENT
On 17 July 2007, the Board of Faces Cosmetics, the Canadian branded cosmetics,
skin care and anti-aging products business, announced that the trading
performance for the year ending 31 July 2007 was likely to be below market
expectations.
The Board now announces, as part of the current audit process, that it expects
there to be adjustments relating to the treatment of costs of restructuring and
the raising of pre IPO funds, the reclassification of items previously
capitalised and the valuation of trading stock, some of which are of a
non-recurring and exceptional nature, which are likely to result in the Company
reporting a significant loss for the year.
As previously announced, the Company has recently concluded a �5 million equity
funding which will be utilised to build upon the infrastructure and accelerate
growth in established markets as well as in the Middle East and India. The
Board remains confident that the Company's strategy and business model is
robust and will prove successful in the medium term.
For further information, please contact:
Faces Cosmetics
Ramesh Jolly
President and CEO +1(905) 760 0110 Ext.112
www.faces-cosmetics.com
Nominated Adviser to Faces Cosmetics
City Financial Associates Limited
Ross Andrews +44 (0) 20 7492 4777
END
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