Share Placing

RNS Number : 3575O

Norish PLC

18 September 2013

Norish plc ("Norish" or the "Company")

18 September 2013

Open Offer

The Board of Norish have decided to exercise its powers under resolutions passed at the 2013 Annual General Meeting to issue up to 1,014,618 new shares at 40p per share which represent just under 10% of the existing issued share capital, in order to raise up to £400,000, net of fees and expenses. Shareholders, other than certain holders in restricted jurisdictions, will be able to participate in the issue which is being made by open offer on a pro-rata basis, with an entitlement to apply for excess shares ("the Offer").

The share issue of £400,000 together with the proceeds of the planned disposals of both Leeds and York will leave the Group in a strong financial position to pursue plans for the continued growth and development of its business.

A Circular and Application Form will be issued tomorrow 19 September 2013 to shareholders (other than shareholders in restricted jurisdictions) on the register as at close of business today 18 September 2013. Closing date for applications will be 11 October 2013. Shareholders will have a primary entitlement to subscribe for 1 Norish share for every 10 Norish shares held on the Record Date, such entitlement rounded down to the nearest whole number.

The Open Offer is not a rights issue. Unlike in a rights issue, any shares not applied for will not be sold in the market on behalf of or placed for the benefit of Shareholders who do not apply under the Offer.

Timetable of principal events:

Record date for entitlement to participate in the Offer	Close of business, 18 September 2013
Ex entitlement date for participation in the Offer	8.00am, 19 September 2013
Posting of Circular and Application Form to shareholders	19 September 2013
Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders	20 September 2013
Recommended latest time for requesting withdrawal of Basic Entitlements and Excess Shares from CREST	4.30pm, 4 October 2013
Latest time for depositing Basic Entitlements and Excess Shares into CREST	3.00pm, 8 October 2013
Latest time and date for splitting of Application Forms(to satisfy bona fide market claims only)	3.00pm, 9 October 2013
Latest time and date for receipt of completed Application Forms, and payment in full under the Open Offer or settlement of relevant CREST instruction (as appropriate)	1.00pm, 11 October 2013
Announcement of results of open offer	14 October 2013
CREST members' accounts credited in respect of New Ordinary Shares in uncertificated form	18 October 2013
Despatch of definitive share certificates for New Ordinary Shares in certificated form	within 14 days of admission