TIDMVARE

RNS Number : 7852X

Various Eateries PLC

22 December 2023

Various Eateries plc

("Various Eateries", the "Company" or the "Group")

Result of General Meeting and Total Voting Rights

Shareholder approval for GBP10.1m Placing and Conversion

Various Eateries is pleased to announce that, at the General Meeting held earlier today, all resolutions were duly passed. Accordingly, subject to Admission, the Company has raised gross proceeds of GBP10.1 million pursuant to the Placing and in addition the Conversion has been approved.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Company's announcement at 7.00 a.m. on 6 December 2023, unless the context requires otherwise.

Admission and Total Voting Rights

Following the General Meeting held earlier today, the Company will issue 40,400,000 Placing Shares and 45,636,788 Conversion Shares.

Application has been made to the London Stock Exchange for admission of the New Ordinary Shares (being the Placing Shares and the Conversion Shares) to trading on AIM. It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on 27 December 2023. The New Ordinary Shares (being the Placing Shares and Conversion Shares) will rank pari passu in all respects with the Existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 175,045,265 with voting rights. 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 Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.

Results of the meeting

Details of the results of the voting, by way of a poll vote, at the General Meeting are set out below. Resolutions 1 to 2 are ordinary resolutions and resolution 3 is a special resolution.

 
 Resolution                                       For                     Against 
                                           Votes   % of votes         Votes        % of 
                                                         cast                     votes 
                                                                                   cast 
                                     -----------  -----------  ------------  ---------- 
 1. To approve the Rule 9 waiver 
  pursuant to the City Code 
  on Takeovers and Mergers*           10,674,179        59.6%     7,222,175       40.4% 
                                     -----------  -----------  ------------  ---------- 
 2. To authorise the directors 
  to allot shares for the purposes 
  of section 551 of the Companies 
  Act 2006 (the "Act")                77,244,779        91.5%     7,221,685        8.5% 
                                     -----------  -----------  ------------  ---------- 
 3. To empower the directors 
  to allot equity securities 
  pursuant to section 570 of 
  the Act as if section 561 
  of the Act did not apply            77,244,779        91.5%     7,221,685        8.5% 
                                     -----------  -----------  ------------  ----------

* Resolution 1 was taken on a poll of Independent Shareholders (as defined in the Circular) in accordance with the requirements of the City Code.

Resultant holding of Hugh Osmond and members of his Concert Party

As detailed in the Company's Circular, immediately following Admission, the resultant aggregate interest of Hugh Osmond and members of his Concert Party in the ordinary shares in the capital of the Company for the purpose of the City Code, is 108,739,152 ordinary shares, representing 62.1% of the Enlarged Share Capital.

For further information, please contact:

 
Various Eateries                                  Via Alma PR 
 plc 
Andy Bassadone          Executive Chairman 
 
  WH Ireland Limited      Sole Broker and NOMAD    Tel: +44 (0)20 7220 1666 
Broking 
 Harry Ansell 
Nominated Adviser 
 Katy Mitchell 
Darshan Patel 
 Isaac Hooper 
 
Alma PR                 Financial PR             Tel: +44 (0)20 3405 0205 
David Ison                                       variouseateries@almapr.co.uk 
Rebecca Sanders-Hewett

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END

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(END) Dow Jones Newswires

December 22, 2023 05:24 ET (10:24 GMT)

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