Result of Open Offer

RNS Number : 4051X

Real Good Food PLC

10 August 2018

 

10 August 2018

Real Good Food plc

("Real Good Food", "the Company" or "the Group")

Result of Open Offer

Real Good Food is pleased to announce it has raised gross proceeds of £1.0 million pursuant to the recently announced Open Offer, which was heavily oversubscribed.

On the 18 July 2018 the Company announced details of an Open Offer to raise gross proceeds of up to approximately £1.0 million through the issue of 20,115,190 ordinary shares of £0.02 each ("Ordinary Shares"). The Open Offer closed for acceptances at 11.00 a.m. on 9 August 2018 and the Company is pleased to announce that it has received valid acceptances under the Open Offer, including those received under the Excess Application Facility, in respect of 29,984,154 Ordinary Shares from Qualifying Shareholders. This represents demand for approximately 149 per cent. of the Offer Shares. Qualifying Shareholders who have validly applied for Offer Shares will receive their application in full and those Qualifying Shareholders who have validly applied for Excess Shares will receive approximately 60.78 per cent. of their application on a pro rata basis, resulting in the issue of the full 20,115,190 Ordinary Shares under the Open Offer.

The Open Offer remains conditional, inter alia, upon all Resolutions being passed at the General Meeting to be held at 11.00 a.m. on 13 August 2018 and Admission. The Company expects to announce the results of the General Meeting as soon as practicable on 13 August 2018 after the meeting concludes. It is expected that Admission will become effective on 17 August 2018.

Enquiries:

Real Good Food plc Hugh Cawley, Chief Executive Harveen Rai, Finance Director	Tel: [phone]
finnCap Limited (Nomad and Broker) Matt Goode / Carl Holmes / James Thompson (Corporate Finance)	Tel: [phone]
MHP Communications (Financial PR)  Reg Hoare / Katie Hunt	Tel: [phone] [e-mail]

About Real Good Food

Real Good Food plc is a diversified food business serving a number of market sectors including retail, manufacturing, foodservice and export.  The Company focuses on three main markets: Cake Decoration (Renshaw and Rainbow Dust Colours), Food Ingredients (R W Scott and Brighter Foods) and Premium Bakery (Haydens and Chantilly Patisserie).

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's Circular dated 18 July 2018.

 

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