(Alliance News) - Barkby Group PLC on Tuesday confirmed that its shares have been cancelled from trading on NEX Exchange, switching to the London Stock Exchange's AIM market.
The hospitality company said it has started trading in London early Tuesday, following completion of the acquisitions of Tarncourt Ambit Properties Ltd, Tarncourt Ambit Ltd and Workshop Trading Holdings Ltd. In addition, the company said it has finalised a share placing and subscription.
Workshop Trading trades as Workshop Coffee and owns four coffee shops. It focuses on specialty coffee and coffee-related hardware, and also has an online presence. The two Tarncourt businesses specialise in property development in south-east England.
Barkby bought the coffee chain and the two property firms for a combined price of GBP30.6 million. The deal was first announced in December.
Turning to fundraising, the company upped GBP5.0 million in a share placing and separate subscription, issuing 16.7 million shares overall at a price of 30 pence.
Following the admission, Barkby has 135.2 million shares overall. The stock was trading on Tuesday in London at 28.50p a share.
"This is a transformational acquisition for all of us," said Executive Chair Charles Dickson.
"The group now consists of a diverse portfolio of high growth, high quality businesses and several very exciting early stage businesses with the potential to significantly disrupt the markets within which they operate," added Dickson.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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