Loungers Plc Regulatory News (LGRS)

For immediate release

Loungers plc 

("Loungers" or the "Company")

Block Admission Application

Loungers, a leading operator of all day café/bar/restaurants across the UK under the Lounge and Cosy Club brands, announces that a block admission application has been made to the London Stock Exchange for the admission to trading on AIM of 364,625 new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares"). It is expected that admission of the New Ordinary Shares will become effective on 01 August 2022.

The New Ordinary Shares will be issued from time to time in response to the exercise of options granted under the Loungers plc Senior Management Restricted Share Plan 2019. When issued, the New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the ordinary shares of 1p each in the Company already in issue (the "Existing Ordinary Shares").

The Company will make six-monthly announcements of the utilisation of this block admission, in line with its obligations under Rule 29 of the AIM Rules for Companies.

At the time of this announcement, the Company has 103,123,831 Existing Ordinary Shares in issue, each with voting rights, which figure may then 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 Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.

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About Loungers

Loungers operates through its two complementary brands - Lounge and Cosy Club - 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 170 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 32 Cosy Clubs nationwide.

www.loungers.co.uk