REG - Tasty PLC - Result of Retail Offer, Revised Timetable & TVR

TastyAnnouncement

06/08/2025 14:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250806:nRSF2779Ua&default-theme=true

RNS Number : 2779U  Tasty PLC  06 August 2025

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED
AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN,
AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND
OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT
NOTICES AT THE END OF THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). IN ADDITION, MARKET SOUNDINGS
(AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED
IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF
SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE
INFORMATION.

 

Tasty plc

("Tasty" or the "Company")

Result of Retail Offer, Revised Timetable and Total Voting Rights

 

On 1 August 2025, Tasty (AIM: TAST), the owner and operator of restaurants in
the casual dining sector, announced a retail offer via BookBuild (the "Retail
Offer") of new ordinary shares ("Ordinary Shares") of 0.1 pence each in the
capital of the Company at an issue price of 0.5 pence per share (the "Issue
Price") to raise up to £1 million (the "Retail Offer Announcement").

 

The Retail Offer and Use of Net Proceeds

 

The Company announces that the Retail Offer closed at 12.00 p.m. on 6 August
2025 and that 173,587,240 new Ordinary Shares (the "Retail Offer Shares") have
been applied for at the Issue Price of 0.5 pence per Retail Offer Share
pursuant to the Retail Offer, raising approximately £0.87 million (before
expenses) for the Company.

 

Further to the announcement on 4 August 2025, Adam Kaye, Sam Kaye and
Amberstar Limited (a company controlled by Phillip, Adam and Sam Kaye) have
subscribed for 25,000,000, 25,000,000 and 50,000,000 Retail Offer Shares
respectively and, on Admission, will beneficially own 37,368,168, 45,882,197
and 50,000,000 Ordinary Shares representing 1.65%, 2.03% and 2.21%
respectively of the Enlarged Share Capital.

 

The net proceeds of the Fundraising (comprising the Placing, the Subscription
and the Retail Offer) are expected to be deployed as follows:

 

 Invest in and improve the Group's existing restaurants            £3.0 million
 Invest in the Company's technology and operations                 £1.0 million
 Acquisition of other restaurant brands                            £3.6 million
 Working capital to deliver the Company's revised growth strategy  £2.0 million
 Total                                                             £9.6 million

 

Revised Timetable and Total Voting Rights

 

The summary revised timetable is as follows:

 

 Trade date       2 September 2025
 General Meeting  10.00 a.m. on 3 September 2025
 Admission        8.00 a.m. on 4 September 2025

 

The Circular, including the Notice of General Meeting which is to be held at
the offices of Howard Kennedy LLP, No.1 London Bridge, London SE1 9BG at 10.00
a.m. on 3 September 2025, will be posted to Shareholders tomorrow and will be
available on the Company's website at https://dimt.co.uk/investor-relations/
(https://dimt.co.uk/investor-relations/) .

 

The Fundraising and the Acquisition are conditional, inter alia, on the
passing of both of the Resolutions by Shareholders at the General Meeting. If
either of the Resolutions are not passed at the General Meeting, the Placing,
the Subscription and the Retail Offer will not proceed and the Acquisition
will not complete.

 

Application has been made to the London Stock Exchange for a total of
2,063,587,240 new Ordinary Shares (comprising 1,699,400,000 Placing Shares,
150,600,000 Subscription Shares, 173,587,240 Retail Offer Shares and
40,000,000 Consideration Shares) to be admitted to trading on AIM
("Admission"). Subject to the Resolutions being passed at the General Meeting,
Admission is expected to take place and dealings in the New Ordinary Shares
are expected to commence at 8.00 a.m. on 4 September 2025.

 

Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 2,261,272,407 with each Ordinary Share carrying the
right to one vote ("Enlarged Share Capital"). There are no Ordinary Shares
held in treasury and therefore the total number of voting rights in the
Company on Admission will be 2,261,272,407. The above figure may be used by
Shareholders in the Company 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 share capital of the Company under the FCA's
Disclosure, Guidance and Transparency Rules.

 

Unless otherwise defined, all capitalised terms used but not defined in this
announcement shall have the meaning given to them in the announcement of the
Fundraising made by the Company on 1 August 2025.

For further information, contact:

 Tasty plc                                                            Tel: 020 7637 1166
 David Page - Proposed Executive Chairman

 Jonny Plant - Chief Executive Officer

 Nicholas Wong - Proposed Chief Financial Officer

 Cavendish Capital Markets Limited                                    Tel: 020 7220 0500

 (Nominated Adviser and Joint Broker)
 Katy Birkin / George Lawson / Trisyia Jamaludin - Corporate Finance

 Dale Bellis / Harriet Ward - Sales and Corporate Broking

 Allenby Capital Limited                                              Tel: 020 3328 5656

 (Joint Broker)
 Nick Naylor / Piers Shimwell - Corporate Finance

 Jos Pinnington - Sales and Corporate Broking

 Hudson Sandler                                                       Tel: 020 7796 4133

 (Financial PR)                                                       tasty@hudsonsandler.com (mailto:tasty@hudsonsandler.com)
 Alex Brennan / Harry Griffiths / Jackson Redley

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ROIBXGDIBDGDGUL