Temporary Suspension

Revolution Bars Group

02 April 2024

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Revolution Bars Group Plc

("Revolution" or the "Company") 

Temporary Suspension

Revolution Bars Group plc, a leading operator of 58 premium bars and 22 gastro pubs, trading mainly under the Revolution, Revolución de Cuba and Peach Pubs brands, provides the following update with respect to its interim results for the 26 weeks ending 30 December 2023 ("Interim Results").

As stipulated by Rule 18 of the AIM Rules for Companies (the "AIM Rules"), the Company was required to publish its Interim Results by 30 March 2023. The Company has been unable to publish its Interim Results in line with this requirement and hence trading in the Company's ordinary shares on AIM will be suspended with effect from 7.30 a.m. on 2 April 2024 pending publication of the Interim Results. Suspension from trading will be lifted with the publication of the Interim Results in due course.

Further to the announcement made on 26 March 2024, the Company continues to evaluate all the options available to it, including engaging with key stakeholders and potential investors with respect to a fundraising.

Further announcements will be made when appropriate.

The person responsible for arranging the release of this announcement on behalf of the Company is Rob Pitcher, CEO.

Enquiries:

Revolution Bars Group plc Rob Pitcher, CEO Danielle Davies, CFO	Tel: [phone]
Cavendish Capital Markets Limited (NOMAD & Broker) Matt Goode / Simon Hicks / Teddy Whiley / Hamish Waller (Corporate Finance) Tim Redfern (Corporate Broking)	Tel: [phone]
Instinctif (Financial PR) Matt Smallwood / Justine Warren	Tel: [phone] 7457 2010

Notice related to financial adviser

Cavendish Capital Markets Limited ("Cavendish"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for the Company and for no one else in connection with the subject matter of this Announcement and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the subject matter of this announcement. Neither Cavendish nor any of its subsidiaries, affiliates or branches owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Cavendish in connection with this announcement, any statement or other matter or arrangement referred to herein or otherwise.

Offer Period

Following the announcement made on 26 March 2024, the Company is considered to be in an "offer period" as defined in the Code, and the dealing disclosure requirements as set out below will apply.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on [phone] if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

 

END