14 Feb 2019 11:26
Patisserie Holdings PLC - CAKE Disposal
For immediate release
14 February 2019
Patisserie Holdings plc
Disposal
Patisserie Holdings plc (AIM: CAKE) (PH or the Company) announces today that, following the Company's administration it has today completed the sale of Patisserie Valerie to Dublin based Causeway Capital and Philpotts to A.F.Blakemore for a total consideration of £13m comprising £10m cash and £3m deferred consideration. Strong interest has also been received for Baker and Spice and an update will be provided shortly. Following the loss of its nominated adviser and the appointment of administrators the Company is provisionally scheduled for cancellation with effect from 7:00am on 25 February 2019. In the circumstances no objection will be made to such cancellation and it is expected that this will proceed at the appointed time.
Enquiries:
Patisserie Holdings plc KPMG contact Kate Broomhead tel: 0161 246 4623
David Costley-Wood, Joint administrator
Blair Nimmo, Joint administrator
The information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.