Escape Hunt PLC Result of Placing and Posting of Circular (8551Y)

TIDMESC

RNS Number : 8551Y

Escape Hunt PLC

13 May 2019

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

13 May 2019

Escape Hunt plc

("Escape Hunt" or the "Company")

Result of Placing

and

Posting of Circular

Escape Hunt (AIM: ESC), a global leader in the high growth escape rooms sector, is pleased to announce the successful completion of the Placing announced earlier today.

A total of 6,666,667 Placing Shares have been placed at the Placing Price of 60 pence per share, subject to, inter alia, shareholder approval being obtained at a general meeting of the Company to be convened for 31 May 2019, raising GBP4.0 million (before expenses). The Placing Price represents a discount of 1.6 per cent. to the closing share price on 10 May 2019.

Application will be made for the admission of the 6,666,667 Placing Shares to trading on AIM and dealings in these shares is expected to occur at 8.00 a.m. on 4 June 2019.

Directors' Participation

All the Directors of the Company (and a PDMR, Andrew Jacobs) participated in the Placing by subscribing for Placing Shares at the Placing Price and their resulting shareholdings immediately following Admission will be as follows:

 
                          Current                            Shareholding 
                     shareholding   % of issued     No. of    immediately 
                      of Ordinary         share    Placing      following    % of Enlarged 
 Director/PDMR             Shares       capital     Shares      Admission    Share Capital 
 Richard Rose              37,000          0.18     16,666         53,666             0.20 
 Richard Harpham            7,400          0.04     16,666         24,066             0.09 
 Alistair Rae              14,800          0.07     16,500         31,300             0.12 
 Adrian Jones           1,777,777          8.78     16,666      1,794,443             6.66 
 Karen Bach                 7,400          0.04      1,666          9,066             0.03 
 Andrew Jacobs                  0             0     16,666         16,666             0.06

Related Party Transactions

The following substantial shareholders, as defined in the AIM Rules for Companies, in that they currently have an interest in more than 10 per cent. of the Company's current issued share capital, have agreed to subscribe for Placing Shares (as set out below). Each participation will constitute a related party transaction for the purposes of the AIM Rules for Companies:

 
                                 No. of Placing 
 Shareholder                             Shares 
 Canaccord Genuity Group 
  Inc                                 2,767,481 
 JO Hambro Capital Management           759,170 
 Gresham House Strategic 
  plc                                   773,334

The Directors consider, having consulted with the Company's Nominated Adviser, Stockdale Securities, that the participation by each of Canaccord Genuity Group Inc, JO Hambro Capital Management and Gresham House Strategic Plc is fair and reasonable insofar as the shareholders of the Company are concerned.

Posting of Circular

The Company will shortly be publishing a Circular, containing a notice of general meeting, which will be sent to shareholders, together with a proxy form. The Circular will also be available on the Company's website at www.escapehunt.com.

Richard Harpham, Chief Executive of Escape Hunt, commented:

"The Board is delighted with the ongoing support shown by existing investors and wishes to welcome new shareholders at this exciting time in the Company's development."

All capitalised terms in this announcement are as defined in the Company's announcement of earlier today.

-ends-

For further enquiries please contact:

 
 Escape Hunt plc 
 Richard Harpham (Chief Executive Officer)       +44 (0) 7584 173958 
 Alistair Rae (Chief Financial Officer)          +44 (0) 7736 883934 
 Mustapha Omar (Commercial Director)             +44 (0) 7767 697596 
 
 Stockdale Securities Ltd - Nominated Advisor 
  and Joint Broker 
 Daniel Harris, David Coaten (Corporate          +44 (0) 20 7601 
  Finance)                                        6100 
 Fiona Conroy (Corporate Broking) 
 
 Peel Hunt LLP - Joint Broker 
 George Sellar, Guy Pengelley (Corporate         +44 (0) 20 7418 
  Finance)                                        8900 
 Rory James-Duff, Sohail Akbar (ECM) 
 
   Yellow Jersey PR Ltd - Financial Public 
   Relations 
                                                 +44 (0) 20 3004 
 Tim Thompson                                     9512 
 Harriet Jackson 
 Henry Wilkinson

About Escape Hunt plc

The Escape Hunt Group is a global leader in providing live escape-the-room experiences with a network of owner-operated sites in the UK and a global network of franchised outlets in six continents. The Company was re-admitted to AIM in May 2017 and has a strategy of creating high quality premium games and experiences, which incorporates branded IP content.

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 rns@lseg.com or visit www.rns.com.

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