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Prezzo PLC (PRZ)

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Friday 11 June, 2004

Prezzo PLC

Issue of Equity

Prezzo PLC
11 June 2004

                                   PREZZO PLC

                    PLACING OF 7,750,000 NEW ORDINARY SHARES

Prezzo plc ('Prezzo' or 'the Company') is pleased to announce that it has raised
£9.3 million, before expenses, through a placing ('the Placing'), predominantly
with existing shareholders of 7,750,000 new ordinary shares of 20p each ('New
Shares') at a price of 120 pence per share. The Placing is conditional, inter
alia, upon admission of the New Shares to trading on AIM.

The net proceeds from the Placing will be used by the Company to continue the
expansion of its restaurant chains. Since the 31 December 2003, Prezzo has
opened a further 11 restaurants, bringing the current number of trading
restaurants to 36. Further restaurant openings are scheduled for the remainder
of 2004.

Certain of the directors of the Company ('Directors') have subscribed, in
aggregate, for 520,000 New Shares through the Placing and following these
subscriptions, they will have the following beneficial interests:

Name     Subscription   Number of Ordinary      Percentage of enlarged issued
                        Shares after the        share capital after the
                        Placing                 Placing
Jonathan      500,000     7,468,333                      14.13
Carlton        20,000       224,667                       0.42

In addition, the Company was today notified that Phillip Kaye, a consultant to
the Company, subscribed for 3,333,333 New Shares through the Placing. Following
this subscription, Phillip Kaye has a beneficial interest in 26,456,910 ordinary
shares, representing 50.04 per cent. of the Company's enlarged issued ordinary
share capital.

As Jonathan Kaye and Michael Carlton are Directors and Phillip Kaye is a
substantial shareholder of the Company, the participation by them in the Placing
constitutes a related party transaction (as defined in the AIM Rules). John
Lederer, the Non-executive Director who is not participating in the Placing,
having consulted with Evolution Beeson Gregory Limited, Prezzo's nominated
adviser, considers that the terms of the transaction are fair and reasonable
insofar as the Company's shareholders are concerned.

Application will be made for the New Shares to be admitted to trading on AIM and
dealings are expected to commence on 16 June 2004.

11 June 2004

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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