REG - Loungers PLC - Issue of Equity and Total Voting Rights

LoungersAnnouncement

11/06/2024 13:00

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RNS Number : 0034S  Loungers PLC  11 June 2024

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                                                                    Via Powerscourt

 Nick Collins, Chief Executive Officer

 Stephen Marshall, Chief Financial Officer
 Houlihan Lokey Advisory Limited (Financial Adviser and NOMAD)                   Tel: +44 (0) 20 7839 3355

 Sam Fuller / Tim Richardson
 Liberum Capital Limited (Joint Broker)                                          Tel: +44 (0) 20 3100 2000

 Andrew Godber / John Fishley
 Peel Hunt LLP (Joint Broker)                                                    Tel:  +44 (0)20 7418 8900

 Dan Webster / Andrew Clark
 Powerscourt (Financial Public Relations)       Tel: +44 (0) 207 250 1446

 Rob Greening / Nick Hayns / Elizabeth Kittle

 

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.

 

www.loungers.co.uk (http://www.loungers.co.uk)

 

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