CAKE Suspension and placing admissi16 Oct 2018 20:05
3. Suspension
The Existing Ordinary Shares remain suspended from trading on AIM. At present, the Directors do not
expect that suspension to be lifted at least until: (a) there is there is greater clarity disclosed to the
market around the financial position of the Group and (b) they are satisfied that the Company’s financial
reporting function is appropriate for a quoted company.
4. The Placing
The Placing comprises the Firm Placing of 10,000,000 Firm Placing Shares at the Placing Price utilising
the Company’s existing shareholder authorities to issue new shares on a non-pre-emptive basis for cash
and the Conditional Placing of 21,451,100 Conditional Placing Shares at the Placing Price subject to
Shareholder approval in the General Meeting. The total proceeds of the Placing payable to the
Company will be £15.7 million.
The Placing Price represents a discount of 88.4 per cent. to the closing middle market price of
429.50 pence per Existing Ordinary Share on 10 October 2018, being the last Dealing Day prior to the
suspension of trading in the Existing Ordinary Shares. The Placing Shares will represent approximately
30.28 per cent. of the Company’s issued ordinary share capital immediately following Conditional
Admission.
Settlement and Admissions
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading
on AIM. It is expected that Firm Admission and Conditional Admission will become effective at 8.00 a.m.
on 18 October 2018 and 2 November 2018 respectively.
The Placing Shares will, when issued, rank pari passu in all respects with the Existing Ordinary Shares
including the right to receive dividends and other distributions declared following the relevant Admission.
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