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Patisserie Hldgs PLC (CAKE)

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Thursday 14 February, 2019

Patisserie Hldgs PLC

Disposal

RNS Number : 0370Q
Patisserie Holdings PLC
14 February 2019
 

Patisserie Holdings PLC - CAKE Disposal

 

 

 

 

For immediate release

14 February 2019

 

Patisserie Holdings plc

Disposal

 

Patisserie Holdings plc (AIM: CAKE) (PH or the Company) announces today that, following the Company's administration it has today completed the sale of Patisserie Valerie to Dublin based Causeway Capital and Philpotts to A.F.Blakemore for a total consideration of £13m comprising £10m cash and £3m deferred consideration. Strong interest has also been received for Baker and Spice and an update will be provided shortly.  Following the loss of its nominated adviser and the appointment of administrators the Company is provisionally scheduled for cancellation with effect from 7:00am on 25 February 2019. In the circumstances no objection will be made to such cancellation and it is expected that this will proceed at the appointed time.

 

Enquiries:

Patisserie Holdings plc                                   KPMG contact Kate Broomhead tel: 0161 246 4623

David Costley-Wood, Joint administrator

Blair Nimmo, Joint administrator

 

The information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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