Partial disposal of interest in Living Ventures

RNS Number : 1087F

Restaurant Group PLC

17 April 2014

 



The Restaurant Group plc

 ("TRG" or the "Company")

Disposal of part of TRG's interest in the Living Ventures Group ("LVG")

The Restaurant Group announces the disposal of part of its interest in the Living Ventures Group following the sale of the Gusto business to a new company backed by Palatine Private Equity LLP and the LVG management.

TRG is receiving £7m of cash proceeds in respect of this disposal and the resulting profit on disposal will be treated as an exceptional item in TRG's next results announcement. The net proceeds of the disposal will be distributed by way of a special dividend of 3.45 pence per share to shareholders on the register as at 20 June 2014. This special dividend will be paid, together with the 2013 final dividend of 8.75 pence, on 9 July 2014 and the shares will be marked ex-dividend on 18 June 2014.

Following the disposal, TRG's only remaining interest in LVG will be a £4m loan note in the Blackhouse Grill Group.

17 April 2014

 

Enquiries:

The Restaurant Group
Andrew Page, Chief Executive	020 3117 5001
Stephen Critoph, Group Finance Director
Instinctif Partners
Matthew Smallwood	07831 379 122 / 020 7457 2020

 

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