Acquisition

RNS Number : 1013S

Tasty PLC

15 November 2011

 



Tasty plc
(the "Company")

Acquisition

The Company is pleased to announce that it has entered into an agreement with Relish Restaurants Limited (the "Seller") to acquire two leasehold properties, one in Stratford-upon-Avon and one on Shaftesbury Avenue in London for a total consideration of £640,000 payable in cash (the "Acquisition"). The Company currently expects that the Acquisition will be completed by 28^th November 2011.

The leasehold properties subject to the Acquisition are currently operated under the Café Pasta brand and will continue to do so for  at least 3 months  after completion. The two sites will then close and be refurbished before reopening under the Wildwood brand.

Adam Kaye and Samuel Kaye, both directors of the Company, are together beneficially interested in approximately 28.5 per cent. of the issued share capital of the Seller. Additionally, Adam Kaye is a director of the Seller.  The directors of the Company, having carefully considered the terms of the Acquisition, consider them to be fair and reasonable insofar as the Company's shareholders as a whole are concerned.

Enquiries

Tasty plc

Jonny Plant       Tel: [phone]

Evolution Securities Limited

Patrick Castle, Jeremy Ellis   Tel: [phone]

 

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