Loungers PLC Block Admission Application (4932Y)
May 04 2023 - 12:51PM
UK Regulatory
TIDMLGRS
RNS Number : 4932Y
Loungers PLC
04 May 2023
Loungers plc
("Loungers" or the "Company")
Issue of Equity
Block Admission Application
Loungers, a leading operator of all day café/bar/restaurants
across the UK under the Lounge, Cosy Club and Brightside brands,
announces that it has allotted and issued 359,000 ordinary shares
of 1 pence each in the Company ("Ordinary Shares") following the
vesting of awards made to 718 Company employees pursuant to the
Company's Employee Share Plan (the "ESP Ordinary Shares"). The
Employee Share Plan rewards team members who are based
predominantly in Lounges and Cosy Clubs across the UK, with share
awards based upon length of service.
The Company has made an application to the London Stock Exchange
for the ESP Ordinary Shares to be admitted to trading on AIM ("ESP
Admission"). ESP Admission is expected to become effective at 8.00
a.m. on 9 May 2022.
Following ESP Admission, the Company will have 103,691,033
Ordinary Shares in issue, each with voting rights, which figure may
then be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules. The Company
does not hold any Ordinary Shares in Treasury.
Loungers also announces that a block admission application has
been made to the London Stock Exchange for the admission to trading
on AIM of a further 477,962 Ordinary Shares (the "RSP Ordinary
Shares") to be issued from time to time in response to the exercise
of options granted to 54 senior managers under the Loungers plc
Senior Management Restricted Share Plan 2020 (the "RSP"). It is
expected that admission of the RSP Ordinary Shares will also become
effective on 9 May 2023 and that the RSP Ordinary Shares will top
up the Company's existing Block Admission with regards the RSP.
The RSP Ordinary Shares will, when issued, be credited as fully
paid and will rank pari passu in all respects with the Ordinary
Shares already in issue (the "Existing Ordinary Shares").
The Company will continue to make regular announcements of the
utilisation of the Block Admission with regards the RSP in line
with its obligations under Rule 29 of the AIM Rules for
Companies.
At the date of this announcement, there are 103,332,033 Existing
Ordinary Shares in issue.
For further information please contact:
Loungers plc Via Powerscourt
Nick Collins, Chief Executive Officer
Gregor Grant, Chief Financial Officer
Houlihan Lokey UK Limited (Financial Adviser Tel: +44 (0) 20 7484
and NOMAD) 4040
Sam Fuller / Tim Richardson
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20 3100
Andrew Godber / John Fishley 2000
Peel Hunt LLP (Joint Broker) Tel: +44 (0)20 7418
Dan Webster / Andrew Clark 8900
Powerscourt (Financial Public Relations) Tel: +44 (0) 207 250 1446
Rob Greening / Nick Hayns / Elizabeth
Kittle
About Loungers
Loungers operates through its two complementary brands - Lounge
and Cosy Club - in the UK hospitality sector. A Lounge is a
neighbourhood café/bar combining elements of coffee shop culture,
the British pub and dining. There are 187 Lounges nationwide.
Lounges are principally located in secondary suburban high streets
and small town centres. The sites are characterised by informal,
unique interiors with an emphasis on a warm, comfortable
atmosphere, often described as a "home from home".
Cosy Clubs are more formal bars/restaurants offering
reservations and table service but share many similarities with the
Lounges in terms of their broad, all-day offering and their focus
on hospitality and culture. Cosy Clubs are typically located in
city centres and large market towns. Interiors tend to be larger
and more theatrical than for a Lounge, and heritage buildings or
first-floor spaces are often employed to create a sense of
occasion. There are 35 Cosy Clubs nationwide.
Loungers launched its third brand, a roadside dining concept
called Brightside, in November 2022. The first Brightside location
opened on the A38, south of Exeter, in February 2023, with a
further two to open in summer 2023.
www.loungers.co.uk
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END
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