Zamaz PLC - London-based e-commerce and retail technology firm - Dominic White, the co-founder of Zamaz and its largest shareholder, buys out its second-largest shareholder, Ayda Khorassani. White buys 94.5 million shares from Khorassani, a 13.3% stake that was her entire holding. The purchase is via Maximum Return Systems Group. White now controls a 66.3% stake in Zamaz. Doesn't disclose the price at which the transaction was made, though 94.5 million shares are worth about GBP8.5 million at the current Zamaz market price.

Zamaz also says it has agreed to change that licensing agreement for its licensed brands so that it may focus entirely on the sustainable cleaning product Ecomoist, which already accounts for 99% of the revenue under the agreement and a third of Zamaz's entire revenue. "The directors strongly believe that the company can generate greater revenue, profit and shareholder value by focusing its UK resources on Ecomoist over the next 12 months, rather than committing to launch new brands under this licence arrangement," it says.

"We are...delighted to have successfully repositioned our licencing agreement so that the team can focus on expanding Ecomoist revenues and profits and its geographic reach, including into the USA, and also further develop the Bella Dispensa business," says Chair Martin Groak. Bella Dispensa is an online retailer of gourmet Italian food products

Current stock price: 9.00 pence

12-month change: down 5.1%

By Tom Waite, Alliance News editor

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