PNB Pubs'n'bars

RNS Number:2419J
Pubs 'n' Bars PLC
05 December 2007


                               Pubs 'n' Bars Plc

                       ('Pubs 'n' Bars' or 'the Company')

                    Acquisition of Moorgate Taverns Limited



Pubs 'n' Bars Plc (the "Company"), the pub owner and operator, announces that it
has exchanged contracts to acquire Moorgate Taverns Limited for a total
consideration of #9,277,000 including the assumption of #7.08 million of bank
indebtedness.


The consideration will be satisfied by the issue of 7,575,862 new ordinary
shares priced at 29 pence per share. Of these shares, 1,034,484 new ordinary
shares have been placed with institutional and other investors by Daniel
Stewart, the Company's nominated adviser and broker, at a price of 29 pence per
share on behalf of the vendors. The vendors have agreed to retain the balance of
6,541,378 new ordinary shares (representing 16.49% of the increased ordinary
share capital) for at least twelve months from completion. In addition 345,637
new ordinary shares have been placed at a price of 29 pence per share to cover
the expenses of the transaction.


Moorgate Taverns Limited has an estate of ten freehold public houses
predominantly within Hertfordshire and Oxfordshire. All but one of these public
houses are tenanted to individual operators and have tied contracts for beer
supply. The acquisition adds approximately #10 million of fixed assets to the
balance sheet and is expected to generate additional net revenues of
approximately #670,000 per annum before interest charges.


Following the transaction the enlarged Pubs 'n' Bars estate will consist of:


Freehold 54

Leaseholds 52

Total Estate 106


Completion of the acquisition and admission of the new ordinary shares to
trading on AIM, are expected to be on 11 December 2007.


Enquiries to:


Pubs 'n' Bars Plc

Mel Belligero, Chief Executive Tel +44 (0) 20 8228 4800


Daniel Stewart & Company Tel +44 (0) 20 7776 6550

Stewart Dick



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

END
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