Loungers PLC Transaction in Own Shares and Total Voting Rights (1750C)
June 09 2023 - 2:00AM
UK Regulatory
TIDMLGRS
RNS Number : 1750C
Loungers PLC
09 June 2023
9 June 2023
Loungers plc
("Loungers" or the "Company")
Transaction in Own Shares and Total Voting Rights
Loungers, a leading operator of all day café/bars/restaurants
across the UK under the Lounge, Cosy Club and Brightside brands,
announces that it has re-purchased 195,000 ordinary shares of 1
pence each in the Company ("Ordinary Shares") at a price of 191.5
pence per Ordinary Share (the "Repurchase").
The Repurchase, equating to approximately 0.2 per cent. of the
issued Ordinary Shares, was undertaken in accordance with the terms
of the Company's general authority to make purchases of Ordinary
Shares granted by Loungers shareholders on 14 October 2022. It was
executed on the London Stock Exchange through the Company's joint
broker, Liberum Capital. The Ordinary Shares the subject of the
Repurchase will be held in Treasury in anticipation of the future
exercise of share options under the Company's various incentive
schemes. Given the Company's current share price, the Loungers
board believes that this is an efficient use of capital.
Following the Repurchase, Loungers holds 195,000 Ordinary Shares
in Treasury. As at 8 June 2023, the total number of Ordinary Shares
in issue with voting rights (excluding Ordinary Shares held in
Treasury) is 103,666,945. This figure may be used by the Company's
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change of interest in, Loungers under the Financial Conduct
Authority's Disclosure and Transparency Rules.
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
and NOMAD) 7484 4040
Sam Fuller / Tim Richardson
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20
Andrew Godber / John Fishley 3100 2000
Peel Hunt LLP (Joint Broker) Tel: +44 (0)20
Dan Webster / Andrew Clark 7418 8900
Powerscourt (Financial Public Relations) Tel: +44 (0) 207
Rob Greening / Nick Hayns / Elizabeth Kittle 250 1446
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 192 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 two Brightside
locations are now open, on the A38, south of Exeter, and on the A38
at Saltash with a further site to open on the A303 in summer
2023.
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END
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