Result of GM

RNS Number : 0623C

Franchise Brands PLC

10 April 2017

 

10 April 2017

FRANCHISE BRANDS PLC

("Franchise Brands", the "Company" or the "Group")

Result of General Meeting re acquisition of Metro Rod Limited ("Metro Rod") and £20 million placing

Franchise Brands plc, a multi-brand international franchisor, is pleased to announce that further to its announcement of 23 March 2017, at the General Meeting held earlier today all resolutions were duly passed. Accordingly, the acquisition of Metro Rod and the placing to raise gross proceeds of £20,000,000 are now only conditional on admission of the enlarged share capital to trading on AIM ("Admission"), which is expected to take place tomorrow, 11 April 2017, and satisfaction of the outstanding conditions set out in the Acquisition Agreement, the Facilities Agreement with HSBC and the Placing Agreement, which are expected to be satisfied on or before Admission.  

The same definitions apply throughout this announcement as set out in the announcement of 23 March 2017, unless the context requires otherwise.

- Ends -

For further information, please contact:

Franchise Brands plc                                                                                                                    [phone]

Stephen Hemsley, Executive Chairman

Julia Choudhury, Corporate Development Director

MHP Communications                                                                                                                 [phone]
(Financial PR)                                                                                                                                 [e-mail]

Katie Hunt / Hannah Winter
 

Allenby Capital Limited                                                                                                              [phone]
(Nominated Adviser and Joint Broker)
Jeremy Porter/ James Thomas / Liz Kirchner
 

Dowgate Capital Stockbrokers                                                                                                  [phone]

(Joint Broker)

James Serjeant / Neil Badger

 

END

 

 

ROMOKKDDKBKDNQD