For immediate release
Loungers plc
("Loungers" or the "Company")
Issue of Equity and Total Voting Rights
Loungers, a leading operator of all day café/bar/restaurants across the UK under the Lounge, Cosy Club and Brightside brands, announces that it has allotted and issued 69,629 ordinary shares of 1 pence each in the Company ("Ordinary Shares") following the vesting of awards made to Company employees pursuant to the Company's Employee Share Plan (the "ESP Ordinary Shares"). The Employee Share Plan rewards team members who are based predominantly in Lounges and Cosy Clubs across the UK, with share awards based upon length of service. No further Ordinary Shares will be issued under this plan in relation to the year ended 21 April 2024.
The Company has made an application to the London Stock Exchange for the ESP Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 14 June 2024.
Following Admission, the Company will have 104,023,148 Ordinary Shares in issue, of which 195,000 shares are held in treasury. Accordingly the total number of voting rights in Loungers will be 103,828,148. This 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 Financial Conduct Authority's Disclosure and Transparency Rules.
For further information please contact:
| Loungers plc Nick Collins, Chief Executive Officer Stephen Marshall, Chief Financial Officer | Via Powerscourt | |
| Houlihan Lokey Advisory Limited (Financial Adviser and NOMAD) Sam Fuller / Tim Richardson | Tel: +44 (0) 20 7839 3355 | |
| Liberum Capital Limited (Joint Broker) Andrew Godber / John Fishley | Tel: +44 (0) 20 3100 2000 | |
| Peel Hunt LLP (Joint Broker) Dan Webster / Andrew Clark | Tel: +44 (0)20 7418 8900 | |
| Powerscourt (Financial Public Relations) Rob Greening / Nick Hayns / Elizabeth Kittle | Tel: +44 (0) 207 250 1446 | |
About Loungers
Loungers operates through its three complementary brands - Lounge, Cosy Club and Brightside - in the UK hospitality sector. A Lounge is a neighbourhood café-bar combining elements of coffee shop culture, the British pub and dining. There are 224 Lounges nationwide. Lounges are principally located in secondary suburban high streets and small town centres. The sites are characterised by informal, unique interiors with an emphasis on a warm, comfortable atmosphere, often described as a "home from home".
Cosy Clubs are more formal bars/restaurants offering reservations and table service but share many similarities with the Lounges in terms of their broad, all-day offering and their focus on hospitality and culture. Cosy Clubs are typically located in city centres and large market towns. Interiors tend to be larger and more theatrical than for a Lounge, and heritage buildings or first-floor spaces are often employed to create a sense of occasion. There are 35 Cosy Clubs nationwide.
Brightside is a roadside dining concept and was launched in November 2022. The first Brightside location opened on the A38, south of Exeter, in February 2023, with the second opening in Saltash near Plymouth in June 2023 and the third in Honiton on the A303 in August 2023.
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