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REG - DP Poland PLC - Result of Placing

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RNS Number : 7855I  DP Poland PLC  28 March 2024

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DP Poland PLC

("DP Poland", the "Company" or the "Group")

 

Result of Placing

 

 

DP Poland, the operator of pizza stores and restaurants across Poland and
Croatia, is pleased to announce that, further to the close of Bookbuild
announcement made earlier today (the "Close of Book Announcement"), the
Placing was significantly oversubscribed with the Company receiving orders of
c.2.5 times the size of the proposed Placing. Accordingly, the Company has
sought to protect the interests of existing shareholders by honoring their
soft pre-emption rights in connection with the Placing and Subscription.
Subject to the passing of certain Resolutions at a General Meeting, the
Company has raised gross proceeds of approximately £19.5 million through:

·    the Subscription by Domino's Pizza Group plc for 110,887,096
Subscription Shares, raising £11.0 million at the Placing Price; and

·    the Placing of 85,685,483 Placing Shares through an accelerated
bookbuild process, raising £8.5 million at the Placing Price.

 

The Placing Price of 9.92p was set on an agreed 5.0% discount to the volume
weighted average price over the 4 month period from 9 November 2023 to 13
March 2024.

 

As previously indicated, a Retail Offer will be launched today via the
BookBuild platform to provide existing retail Shareholders with an opportunity
to take part in the Fundraising at the same Placing Price as the Placing.
Further details about the Retail Offer will be provided by the Company by a
separate announcement in due course.

 

 

General Meeting

 

The issue of the Subscription Shares, Placing Shares and the Retail Offer
Shares (and therefore completion of the Fundraising) is conditional upon the
approval by Shareholders of the Resolutions to be proposed at the General
Meeting of the Company to be held at the offices of PwC, 1 Embankment Place,
London, WC2N 6RH at 12.00 p.m. on 18 April 2024. A Circular is expected to be
posted to Shareholders on or around 2 April 2024 and the Circular, once
published, will be available on the Company's website at www.dppoland.com
(http://www.dppoland.com) . The same definitions apply throughout this
announcement as are applied in the Circular.

 

Subject to Shareholders approving the Resolutions to be proposed at the
General Meeting, it is expected that Admission of the Subscription Shares,
Placing Shares and Retail Offer Shares will take place on or about 8.00 a.m.
on 19 April 2024.

 

Nils Gornall, CEO of DP Poland, said:

 

"We are pleased to announce the completion of a significantly oversubscribed
Fundraise which saw the Company upscaling the size of the Placing, subject to
shareholder approval at the forthcoming general meeting. We are delighted with
the overwhelming support we have received from our existing shareholders and
new investors. This Fundraise will allow us to accelerate the Company's growth
strategy and realise our ambitions to become the leading pizza brand in Poland
and Croatia."

 

Enquiries:

DP Poland plc

Nils Gornall, CEO

Tel: +44 (0) 20 3393 6954

Email: ir@dppoland.com

 

Singer Capital Markets (Nominated Adviser and Broker)

Shaun Dobson / Jen Boorer / Oliver Platts

Tel: +44 (0) 20 7496 3000

 

Notes for editors

About DP Poland plc

DP Poland has the exclusive right to develop, operate and sub-franchise
Domino's Pizza stores in Poland and Croatia. The group operates 116 stores and
restaurants throughout cities and towns in Poland and Croatia.

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