RNS Number:9402K
AIM
09 May 2003




        ANNOUNCEMENT TO BE MADE BY AIM APPLICANT AT LEAST 10 BUSINESS DAYS PRIOR TO ADMISSION

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME: Paramount  plc

COMPANY ADDRESS: 15 Grosvenor Gardens, London

COMPANY POSTCODE: SW1W 0BD

COUNTRY OF INCORPORATION: England and Wales

COMPANY BUSINESS: Paramount plc is a cash shell listed on the Official List of the UK Listing
Authority which has made an offer for Groupe Chez Gerard plc, a restaurant business. Groupe Chez
Gerard plc, also listed on the Official List, operates the Chez Gerard, Bertorelli and Livebait
restaurant chains.



The Offer has been declared unconditional and admission to AIM will be sought on or about 14 May

DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue
price): up to 82,653,419 Ordinary Shares of 5p each

CAPITAL TO BE RAISED ON ADMISSION: #0

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:

G.A.Naggar                  -           Chairman

N.A.Basing                  -           Chief Executive

R.J. Elman                  -           Finance Director

D.L.Hudd                    -           Non-Executive Director

C.H.B.Mills                 -           Non-Executive Director

N.A.Summers                 -           Non-Executive Director

I.S. Neill                  -           Non-Executive Director



PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED
ORDINARY SHARE CAPITAL STATING WHETHER BEFORE OR AFTER ADMISSION:





                                                      Percentage of issued share capital on Admission*


JO Hambro Capital Management                                                                    70.74%
Vidacos Nominees Limited (G. Naggar)                                                             3.14%
Vidacos Nominees Limited (P. Klimt)                                                              3.14%

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE
AIM RULES. N/A

ANTICIPATED ACCOUNTING REFERENCE DATE: 30 June

EXPECTED ADMISSION DATE:On or after 14 May 2003 subject to the delisting from the Official List of the
UK Listing Authority

NAME AND ADDRESS OF NOMINATED ADVISER: Evolution Beeson Gregory Limited, The Registry, Royal Mint
Court, London EC3N 4LB

NAME AND ADDRESS OF BROKER: Evolution Beeson Gregory Limited, The Registry, Royal Mint Court, London
EC3N 4LB

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES.
Listing Particulars dated 20th March 2003 are available from Dawnay, Day Corporate Finance Limited, 10
Grosvenor Gardens, London SW1W 0DH

DATE OF NOTIFICATION:  9 May, 2003

NEW/ UPDATE (see note):Update

LISTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING
COMPANY, DETAILS OF ITS INVESTMENT STRATEGY



Listing of Paramount Shares and possible admission to AIM



As a result of the Offer there is less than 25% of the Company's issued share capital in public hands.
  Consequently the Company has notified the UKLA of its intention to delist from the Official List of
the UK Listing Authority and is applying for admission of its securities on AIM to become effective
simultaneously to the delisting.



Paramount will be the holding company of the Groupe Chez Gerard and Nick Basing has been appointed as
group chief executive.  His initial brief will be to focus on improving the cashflow of the group's
trading operations by increasing restaurant profitability, reducing support office costs, some
disposals and selective rebranding. A key objective will be to enhance customers' dining experiences
in the restaurants. After the initial rationalisation, this should create a strong platform for future
growth.



The board of Paramount believes that the group's prospects will be promising in the medium to long
term recognising the current economic uncertainties and their potential unfavourable impact on short
term results.





A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS
OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED
OR AN APPROPRIATE NEGATIVE STATEMENT



Save for the purchase and cancellation of its own shares as detailed in paragraph 2.6 of Part 1V of
the Listing Particulars, there has been no significant change in the financial or trading position of
the Paramount Group since 30 November, 2002, the date to which the most recent interim financial
statement was made up.  Save as aforesaid and as disclosed in the interim statement, set out in Part
III of the Listing Particulars, there has been no material change in the trading position of Paramount
since 31 May 2002, being the date of the last published audited accounts.





On 13 March 2003, Paramount announced the proposed acquisition of Groupe Chez Gerard plc which
operates 23 restaurants 12 branded as "Chez Gerard", 7 as "Livebiat", one as "Cafe Fish" and 3 as "
Bertorelli". The group also has three sites which are being marketed for disposal.



As far as Paramount is aware, having regard to published information, there has been no significant
change in the financial or trading position of the GCG Group since 31 December 2002, the date to which
the most recent interim accounts were made up.





The effect of the Acquisition on earnings will be to consolidate Groupe Chez Gerard's profits which
amounted to #528,000 for the second half of the year to 30 June 2002 and #873,000 for the six months
ended 31 December 2002.  Paramount would forego the interest receivable on any cash which may be paid
out as part of the consideration under the Offer.  The impact of the Acquisition on the enlarged
Paramount Group's balance sheet will be the consolidation of the Groupe Chez Gerard's assets and
liabilities and the inclusion of any goodwill arising as an intangible fixed asset.  Goodwill will
represent the difference between the value of the consideration paid for the Groupe Chez Gerard and
its net assets on the date Paramount acquires control



A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT ITS WORKING CAPITAL
WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION



The Directors are of the opinion, having made due and careful enquiry and after taking into account
the existing loan and bank facilities, the working capital available to Paramount plc is sufficient
for its present requirements, that is for at least 12 months following the date of this announcement.



DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES.

N/a - company has trading record of over two years

Definitions used in this announcement have the same meaning, unless the context requires otherwise, as
those set out in the Listing Particulars issued by Paramount plc on 20 March, 2003






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