Intended Purchase of Shares by EBT

RNS Number : 9085Q

Hostmore PLC

30 June 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

Hostmore plc

Intended Purchase of Shares by Employee Benefit Trust

30 June 2022

Hostmore plc (the "Company"), the hospitality business focused on American-themed casual dining brand, 'Fridays', the cocktail-led bar and restaurant brand, '63rd+1st', and the fast casual dining brand 'Fridays and Go', announces that Intertrust Employee Benefit Trustee Limited, the trustee of the Hostmore plc 2021 Employee Benefit Trust (the "Trust"), has today indicated its intention to make market purchases in ordinary shares of the Company for the benefit of the Trust up to a value of £500,000, to help meet future obligations arising under the Company's long-term incentive plan (the "Market Purchases").

The Market Purchases are subject to the Trustee's absolute discretion as to the purchase price to be paid up to a pre-agreed maximum price per ordinary share in the Company.

It is expected that the Market Purchases will be funded by amounts advanced by the Company by way of loan, such funding having been provided for within recent public announcements as to the Company's outlook.

A further announcement will be made on completion of the Market Purchases.

ENDS

ENQUIRIES

Hostmore plc

Robert B. Cook, Chief Executive Officer

Alan Clark, Chief Financial Officer

[e-mail]

[phone]

MHP

Oliver Hughes, Simon Hockridge, Eleni Menikou 

[e-mail]

[phone]

NOTES TO EDITORS

Hostmore plc is a growing hospitality business with its current operations focused on the American-themed casual dining brand, 'Fridays', the cocktail-led bar and restaurant brand, '63rd+1st', and the fast casual dining brand 'Fridays and Go'. While Fridays has been trading for over three decades in the UK, Hostmore was established in 2021 to provide a platform for the development of hospitality brands under the leadership of an experienced management team that has a record of building businesses in the hospitality and leisure sectors. Hostmore's businesses are defined by their iconic brand experience and vibrant heritage. As of 30 June 2022, Hostmore operates 89 restaurants in the United Kingdom and Jersey, a majority of which are in high footfall locations, including retail parks, shopping centres and city centres. Hostmore is exploring opportunities with TGI Friday's, Inc., the franchisor of Fridays, to expand its existing brands into new franchise territories and is seeking to add rapidly growing, early-stage businesses to its portfolio of complementary hospitality brands, as well as to extend its offering in other experience-led, leisure concepts.

 

 

END

 

 

POSBLGDLSDXDGDG