Franchise Brands PLC Result of GM (0623C)
April 10 2017 - 6:14AM
UK Regulatory
TIDMFRAN
RNS Number : 0623C
Franchise Brands PLC
10 April 2017
10 April 2017
FRANCHISE BRANDS PLC
("Franchise Brands", the "Company" or the "Group")
Result of General Meeting re acquisition of Metro Rod Limited
("Metro Rod") and GBP20 million placing
Franchise Brands plc, a multi-brand international franchisor, is
pleased to announce that further to its announcement of 23 March
2017, at the General Meeting held earlier today all resolutions
were duly passed. Accordingly, the acquisition of Metro Rod and the
placing to raise gross proceeds of GBP20,000,000 are now only
conditional on admission of the enlarged share capital to trading
on AIM ("Admission"), which is expected to take place tomorrow, 11
April 2017, and satisfaction of the outstanding conditions set out
in the Acquisition Agreement, the Facilities Agreement with HSBC
and the Placing Agreement, which are expected to be satisfied on or
before Admission.
The same definitions apply throughout this announcement as set
out in the announcement of 23 March 2017, unless the context
requires otherwise.
- Ends -
For further information, please contact:
Franchise Brands plc +44 (0)80 0012 6462
Stephen Hemsley, Executive Chairman
Julia Choudhury, Corporate Development Director
MHP Communications +44 (0)20 3128 8100
(Financial PR)
franchisebrands@mhpc.com
Katie Hunt / Hannah Winter
Allenby Capital Limited +44 (0)20 3328 5656
(Nominated Adviser and Joint Broker)
Jeremy Porter/ James Thomas / Liz Kirchner
Dowgate Capital Stockbrokers +44 (0)12 9351 7744
(Joint Broker)
James Serjeant / Neil Badger
This information is provided by RNS
The company news service from the London Stock Exchange
END
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