Eclectic Bar Group PLC Pre Close Trading Statement (5483N)
July 29 2014 - 2:01AM
UK Regulatory
TIDMBAR
RNS Number : 5483N
Eclectic Bar Group PLC
29 July 2014
For Immediate Release
29 July 2014
Eclectic Bar Group plc
("Eclectic", the "Company" or the "Group")
Pre Close Trading Statement
Eclectic, a leading operator of premium bars in the UK, today
provides the following pre-close trading statement in respect of
the 12 month period ended June 2014.
Trading for the period is in line with the Board's and the
market's expectations. The Company's two most recently rebranded
sites (Dirty Blonde, Brighton and Lola Lo, Derby) have been
successfully launched in the period. In March, the Company
introduced the Lowlander Grand Café bar and brasserie in Covent
Garden to its estate, bringing the number of trading venues to 21.
The Company intends to pay its first dividend in respect of the 12
month period ended June 2014 after the next annual general meeting
in October 2014.
Looking forward, Eclectic is pleased to report that it has
recently signed an agreement to lease on a new site in Liverpool a
key target city for the Group. The Company intends to develop this
unit in the financial year ending June 2015 to Lola Lo, bringing
the total number of Lola Lo units to 11. The new acquisition is
subject to the satisfactory outcome of planning and licensing
applications. In addition, the Company has also concluded a
significant extension on the Embargo, Kings Road lease to 2033.
This club and terrace space is currently being extended and
refitted, and will reopen towards the end of August 2014.
The Company intends to announce its maiden results for the 12
months ended June 2014 on 30 September 2014.
Appointment of Chief Operating Officer
The Company also announces that Leigh Nicolson has been
appointed to the Company's Board as an executive director and Chief
Operating Officer with immediate effect. Leigh joined the Group in
2006 as area manager for the London area. His role developed to
become national operations manager, and he was appointed operations
director for Eclectic in 2010. Leigh has been hugely instrumental
in the development and growth of the Group and will further
strengthen the Board in his new role.
Leigh Bryden Nicolson, aged 37, is beneficially interested in
144,750 ordinary shares in Eclectic, representing approximately
1.1% of the Company's issued share capital, and in options over
156,250 ordinary shares in Eclectic, representing approximately
1.2% of the Company's issued share capital.
There are no further matters in connection with the Company's
appointment of Leigh Nicolson to be disclosed under Schedule Two
paragraph (g) or Rule 17 of the AIM Rules.
Enquiries:
Eclectic Bar Group plc (www.eclecticbars.co.uk) Tel: 020 7376 6300
Reuben Harley, CEO
John Smith, CFO
Panmure Gordon Tel: 020 7886 2500
Corporate Finance
Andrew Godber / Atholl Tweedie / Duncan
Monteith
Corporate Broking
Charles Leigh-Pemberton / Maisie Atkinson
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood
Justine Warren
About Eclectic
Eclectic is a leading operator of premium bars in the UK.
Eclectic's portfolio comprises 21 venues located in major towns and
cities, predominantly targeting a customer base of sophisticated
students midweek and stylish over 21s and young professionals at
weekends. The Company focuses on delivering added value for its
customers, with premium product ranges, high-quality music and
entertainment, and a commitment to high service levels and
standards. Eclectic trades across its estate under a variety of
brands, including Embargo 59, Lola Lo, Sakura, Dirty Blonde,
Lowlander, Coalition, Po Na Na and Fez Club.
The Group's management team, led by Reuben Harley, who has over
25 years' experience of working in the UK pub and bar industry, is
implementing a strategy to grow the business through the
development of new sites either under the Company's existing brands
or using brands which can be successfully maintained, as well as
business acquisitions as appropriate opportunities present
themselves.
Lola Lo 10 sites
Bournemouth
Brighton
Cambridge
Edinburgh
Derby
Lincoln
Norwich
Oxford
Reading
Manchester
Sakura 2 sites
Manchester
Reading
Po Na Na 3 sites
Bath
Bristol
Wimbledon
Fez Club 2 sites
Cambridge
Putney
Coalition Brighton
Dirty Blonde Brighton
Lowlander Covent Garden
Embargo 59 Kings Road
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTQVLFLZDFEBBX
Brighton Pier (LSE:PIER)
Historical Stock Chart
From Sep 2024 to Oct 2024
Brighton Pier (LSE:PIER)
Historical Stock Chart
From Oct 2023 to Oct 2024