AVA.L Regulatory News (AVA)

Avanti Capital plc

Eclectic Bars Management contract to operate The Living Room and Ultimate Leisure

Avanti Capital plc, which has a 60% holding in Eclectic Bars Limited ("Eclectic"), reports that Eclectic has today announced it has entered into a management contract to operate 33 restaurants, bars and nightclubs on behalf of PBR Leisure Limited ("PBRL"). The contract is for 12 months and Eclectic will be remunerated partly on performance. This transaction enlarges the scope of the Eclectic management team's operations significantly.

PBRL owns The Living Room, a leading premium bar and restaurant brand, operating 14 sites, and a portfolio of 19 other bar, nightclub and hotel businesses operated under the Ultimate Leisure umbrella across the UK. Eclectic owns and operates sixteen late night bars and clubs across the UK operating under a number of brands including Sakura, Lola Lo, Fez Club and Po Na Na.

David Myers, Chairman of PBRL, said, "Whilst it is generally recognised that the last few years have been very difficult for the UK hospitality sector, now is the right time to bring in the Eclectic team which has the specific expertise to drive both The Living Room and the Ultimate Leisure businesses forward."

Reuben Harley, Chief Executive of Eclectic, said, "We are delighted to be taking on this business which will bring the total number of sites we operate across the UK to almost fifty. We see great opportunities in bringing our brand development expertise and service culture to the PBRL group and look forward to working alongside many excellent people within the current PBRL team."

Enquiries:

Avanti Capital Plc Tel: 020 7299 1459

Richard Kleiner

Canaccord Genuity Limited Tel: 020 7523 8350

Mark Dickenson / Sebastian Jones