daVictus plc Suspension of Ordinary Shares (5435Q)
February 20 2019 - 1:30AM
UK Regulatory
TIDMDVT
RNS Number : 5435Q
daVictus plc
20 February 2019
DAVICTUS PLC
PRESS RELEASE
20 February 2019
DaVictus Plc (LON: DVT), the company formed to make acquisitions
in the food and beverage sector ("DaVictus", or the "Company"), is
pleased to announce that it is proposing to enter into non-binding
conditional heads of terms (the "Heads of Terms") with Typical
Dutch N.V. ("TDNV") under which it is proposed that DaVictus
acquires the intellectual property rights in a restaurant concept
currently owned by TDNV (the "Proposed Transaction").
TDNV is an Aruban registered company that runs a small
family-owned café while selling souvenirs to tourist. It operates
as a traditional Cuban-themed café in Aruba. TDNV has developed a
comprehensive menu including their recipes, collection of
Cuban/Havana graphics for a restaurant concept branded as HAVANA
Rolled Cigar Music Café (or simply "the HAVANA"). It has also
developed the interior decoration concept, drafted franchise
agreements, operation manuals and various other business documents
(referred to as the "TDNV IP").
Under the Heads of Terms, the consideration for the acquisition
of the TDNV IP, which remain subject to, inter alia, due diligence
and contract, would be GBP100,000.
Suspension of Ordinary Shares
By virtue of its size, the Proposed Transaction would constitute
a reverse takeover under the Financial Conduct Authority's Listing
Rules. Accordingly, on the request of the Company and with effect
from 7.30 a.m. (UK time) today, listing of the ordinary shares of
no par value of the Company on the standard listing segment of the
Official List of the UK Listing Authority and trading in the
ordinary shares of the Company on the London Stock Exchange's main
market for listed securities will be suspended. This suspension
will continue until the Company's publishes a prospectus in
relation to the Potential Transaction or it being announced that
the Potential Transaction will not proceed.
Further announcements will be made, as appropriate, in due
course.
Robert Pincock
CEO
"I am excited looking at the opportunity for Davictus to drive
the internationalisation of HAVANA Rolled Cigar Music Café. It
provides a low cost entry into the restaurant franchise business
that comes complete with identifiable history, culture, art and
music settings"
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
For further information, please contact:
Sara Chawankon (Ms)
Investor Relations Team
ir@davictus.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
EXCURRURKWAUURR
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