Issue of Equity

RNS Number : 5381D

Fulham Shore PLC (The)

30 April 2013

 



The Fulham Shore plc

("Fulham Shore" or the "Company")

Placing of 14,500,000 new shares raises £580,000

The Board of Fulham Shore is pleased to announce that it has raised £580,000 (before expenses) through a placing of 14,500,000 new ordinary shares of 1 pence each (the "Placing Shares") at 4 pence per Placing Share. 

The net funds raised in the placing, in addition to the cash already held by the Company, will bolster the Company's search for restaurant businesses and investments and will enable the Company to move more quickly when opportunities arise to purchase or invest in restaurant concepts.  The Board continues to talk to a number of restaurant formats about how Fulham Shore can aid their growth and become involved, both financially and managerially, in their enterprises.

The Board is also exploring the option of start-ups involving talented entrepreneurs who are keen to turn their plans into reality.

The Board believes that trade in London restaurants continues to outperform the rest of the UK where shopping centres and purpose built out-of-town leisure parks are increasingly luring away trade from traditional high streets.  The Board also believes that the London restaurant scene, where the Company is aiming its acquisitive intentions, continues to be one of the most vibrant on the planet, where start-ups are jostling with American imports and small UK businesses expanding to meet demand. 

The Board believes that an increasing amount of money re-locating to London is partly responsible for its cosmopolitan feel, and that having got used to casual dining as children, the under 40 London "urbanites" now see eating out of home as the rule rather than the exception.

Application will be made for the Placing Shares to be admitted to trading on the ISDX Growth Market ("Admission") and Admission is expected to take place on 1 May 2013.

The Directors of the Company, including their families and connected persons, have subscribed for 7,500,000 Placing Shares and immediately following the placing their interests will be as follows:

Director	No. of Placing Shares acquired	Total no. of ordinary shares held following the placing	% of issued share capital now held
David Page	3,100,0001	15,300,1002	21.76
Nabil Mankarious	3,200,000	16,200,0003	23.04
Nick Donaldson	1,200,000	4,300,000	6.12
Total	7,500,000	35,800,100	50.92

¹ Includes 100,000 Placing Shares, the legal and beneficial interest in which is held by Nora Page.

² Includes the 100,000 Placing Shares subscribed for by Nora Page and 400,000 ordinary shares, the legal and beneficial interest in which is held by Olivia Page.  David Page has acquired 3,000,000 Placing Shares and immediately following the placing will hold the legal and beneficial interest in 14,800,100 ordinary shares of the Company (being 21.05% of the Company's issued share capital).

³Includes the following ordinary shares, the legal and beneficial interest in which are held by: (i) Emma Mankarious (400,000); and (ii) Eleanor Mankarious (400,000). Nabil Mankarious holds the legal and beneficial interest in 15,400,000 Ordinary Shares (being 21.91% of the Company's issued share capital).

The total enlarged issued share capital of the Company following Admission will be 70,298,600 ordinary shares of 1 pence each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules of the UK Financial Conduct Authority.

The Directors of the Company accept responsibility for the contents of this announcement.

Contacts:

The Fulham Shore plc                                                                                                                    Telephone: [phone]

David Page                                                                                                                                         www.fulhamshore.com

Allenby Capital Limited                                                                                                                Telephone: [phone]

Nick Naylor / Jeremy Porter / James Reeve

 

END

 

 

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