For immediate release
(“Loungers” or the “Company”)
Issue of Equity and Total Voting Rights
Loungers announces that it has allotted and issued 650,000 ordinary shares of 1 pence each in the Company (“Ordinary Shares”) following the vesting of awards made to 480 Company employees pursuant to the Company’s Employee Share Plan.
The Company has made an application for the 650,000 Ordinary Shares to be admitted to trading on AIM (“Admission”). Admission is expected to become effective at 8.00 a.m. on 7 May 2020.
Following Admission, the Company will have 102,400,000 Ordinary Shares in issue, each with voting rights, which figure may then 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 Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.
For further information please contact:
Nick Collins, Chief Executive Officer
Gregor Grant, Chief Financial Officer
Via Instinctif Partners
GCA Altium Limited (Financial Adviser and NOMAD)
Sam Fuller / Tim Richardson
Tel: +44 (0) 20 7484 4040
Liberum Capital Limited (Joint Broker)
Andrew Godber / John Fishley
Tel: +44 (0) 20 3100 2000
Peel Hunt LLP (Joint Broker)
Dan Webster / George Sellar
Tel: +44 (0)20 7418 8900
Instinctif Partners (Financial Public Relations)
Justine Warren / Matthew Smallwood
Tel: +44 (0) 20 7457 2010 / 2005
Loungers operates through its two complementary brands – Lounge and Cosy Club – in the UK hospitality sector. A Lounge is a neighbourhood café/bar combining elements of coffee shop culture, the British pub and dining. As at 20 March 2020, there were 138 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 their 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. As at 20 March 2020, there were 29 Cosy Clubs nationwide.