DP Poland PLC Completion of Acquisition and Admission (0599L)
January 08 2021 - 3:31AM
UK Regulatory
TIDMDPP
RNS Number : 0599L
DP Poland PLC
08 January 2021
DP Poland plc
("DP Poland" or "the Company")
Completion of Acquisition and Admission of the Enlarged Group to
trading on AIM
DP Poland is pleased to announce the admission of its Enlarged
Share Capital to trading on AIM and the completion of the
acquisition of Dominium S.A. ("Dominium") (the "Acquisition").
Dealings commenced at 8.00 a.m. today. The Acquisition constituted
a reverse takeover under the AIM Rules for Companies.
Highlights
-- Consideration for the Acquisition was satisfied by the issue
of 283,766,661 New Shares and an unsecured Loan Note of EUR1.3
million (approximately GBP1.2 million) to Malaccan Holdings
Limited. Additionally, outstanding debt due from Dominium to
Malaccan Holdings Limited was converted into a further unsecured
Loan Note of EUR6.2 million (approximately GBP5.6 million).
-- Dominium is a Polish pizza restaurant group with restaurants
located across a number of cities and towns in Poland including
Warsaw and Krakow.
-- The Directors believe that the combination of the two
businesses will place the Company within the top three pizza chains
in Poland in terms of stores and restaurants.
-- The Acquisition will almost double the number of stores
within the Company's portfolio and will provide a basis for further
expansion and market penetration into new cities and towns.
-- It is expected that this improved scale will help the Company
to achieve its objective of becoming a market leader in Poland, and
will enable it to expand further, notwithstanding the growth noted
amongst competitors.
-- There are a number of cost savings and synergies which are
expected to arise from the Acquisition.
-- A Placing of 19,965,361 New Shares and a Subscription of
23,784,639 New Shares has taken place, at the Issue Price of 8
pence per ordinary share, to raise approximately GBP3.5 million
(before expenses). In addition, 21,824,204 Sale Shares have been
placed at the Issue Price.
Terms used in this announcement shall, unless otherwise
specified, have the meanings given to them in the Company's
admission document dated 21 December 2020, a copy of which is
available to view at: https://dppoland.com/2015/.
Enquiries:
DP Poland PLC Tel: +44 (0) 20 3393 6954
Nick Donaldson, Non-Executive Chairman
N+1 Singer (Nominated Adviser and Tel: +44 (0) 20 7496 3000
Broker)
Shaun Dobson / Will Goode / George
Tzimas / Amanda Gray
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END
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