Various Eateries plc
("Various Eateries", the "Company" or the "Group")
Result of General Meeting and Total Voting Rights
Shareholder approval for £10.1m 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 £10.1 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 cast | Votes | % of 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 plc | | Via Alma PR |
| 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 | | |
| Rebecca Sanders-Hewett | | |
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