CRAW Crawshaw

 

TIDMCRAW 
 
RNS Number : 1621U 
Crawshaw Group PLC 
19 June 2009 
 

19 June 2009 
Crawshaw Group PLC ("Crawshaw" or the "Company") 
Issue of Subscription Shares 
The Board of Crawshaw today announces that ISIS Equity Partners LLP ("ISIS") is 
subscribing for 5,256,254 new ordinary shares (the "Subscription Shares") in the 
Company at 17 pence per share (the "Subscription"). The Subscription will raise 
approximately GBP894k (before expenses). The funds will be used, when 
appropriate, to support the Company's stated store rollout strategy. 
Background to the Subscription 
Crawshaw, the meat focussed retailer, opened its 20th store on 11 June, the 7th 
new store opening in less than 12 months. As announced on 9 March 2009, the 
financial returns of the new stores, which cover a variety of different 
locations and formats, are now being evaluated with a view to enabling the Board 
to maximise profitability from further new stores going forward. The 
Subscription means the Company is now well placed to resume the store opening 
strategy when appropriate market conditions re-emerge. 
The Subscription 
The Company has made arrangements to raise approximately GBP 894k gross 
(approximately GBP 891k net of expenses) by way of a subscription for new shares 
in the Company at a price of 17 pence per share. ISIS has agreed to subscribe 
for 5,256,254 new ordinary shares (comprising 9.1 per cent. of the enlarged 
issued share capital) at 17 pence per share which represents a 3 per cent. 
premium to the closing mid market price of 16.5 pence on 18 June 2009 (being the 
latest practicable date prior to the date of this announcement). 
The Company has existing authorities in place to allow the issue of the 
Subscription Shares for cash on a non pre-emptive basis and the Subscription 
therefore does not require additional shareholder approvals. 
 
On admission, the Subscription Shares will rank pari passu in all respects with 
the Company's existing ordinary shares. 
 
 
Members of the public are not eligible to take part in the Subscription. 
 
 
Application has been made for the admission of Subscription Shares to trading on 
AIM. It is expected that admission will occur and that dealings will commence on 
22 June 2009, at which time it is also expected that the Subscription Shares 
will be enabled for settlement in CREST. 
 
 
Immediately following admission of the Subscription Shares, the Company will 
have 57,818,801 ordinary shares in issue. 
 
 
END 
Enquiries: 
 
+-----------------------------------------------+----------------------------+ 
| Crawshaw Group plc                            |                            | 
+-----------------------------------------------+----------------------------+ 
| Richard Rose                                  | 07836 250 474              | 
+-----------------------------------------------+----------------------------+ 
|                                               |                            | 
+-----------------------------------------------+----------------------------+ 
| Investec Investment Banking                   |                            | 
+-----------------------------------------------+----------------------------+ 
| Martin Smith / Duncan Williamson              | 0207 597 5970              | 
+-----------------------------------------------+----------------------------+ 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCDGGDLRSBGGCI 
 

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