MEAL.L Regulatory News (MEAL)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF PARSLEY BOX GROUP PLC IN ANY JURISDICTION.

Parsley Box Group plc 

("Parsley Box" or the "Company")

Result of Open Offer

Parsley Box Group plc (AIM: MEAL), the direct to consumer provider of ready meals focused on the Baby Boomer+ demographic, announces that it has conditionally raised total gross proceeds of approximately £0.14 million through the Open Offer which was announced on 10 March 2022 representing approximately 12.85 per cent. proposed under the Open Offer.

Result of the Open Offer

The Company received valid acceptances from Qualifying Shareholders in respect of their Basic Entitlements in respect of 333,489 New Ordinary Shares, representing approximately 6.05 per cent. of the Open Offer Shares. In addition, the Company received applications from Qualifying Shareholders under the Excess Application Facility in respect of 375,130 New Ordinary Shares, representing approximately 6.80 per cent. of the Open Offer Shares. Accordingly, Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlements and full Excess Entitlements.

Therefore, the Company has raised total gross proceeds of approximately £6.07 million by way of the Fundraising and the Open Offer. 

Application has been made to the London Stock Exchange for the admission of 30,326,619 New Ordinary Shares to trading on AIM ("Admission"). This comprises (i) 29,618,000 Fundraising Shares; and (ii) 708,619 Open Offer Shares. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

General Meeting

The Fundraising and Open Offer remain conditional on the Placing and Open Offer Agreement becoming unconditional and not having been terminated in accordance with its terms, the passing of the Resolutions at the General Meeting to be held later today.

 Admission of the New Ordinary Shares and total voting rights

It is expected that admission of 27,957,799 New Ordinary Shares will become effective at 8.00 a.m. on 31 March 2022 (the "First Admission") with admission of the remaining 2,368,820 New Ordinary Shares becoming effective at 8.00 a.m. on 6 April 2022 (the "Second Admission"). Following the First Admission, the Company will have 70,227,692 Ordinary Shares of 1p in issue each with equal voting rights. No shares are held in treasury. Following the Second Admission, the Company will have 72,596,512 Ordinary Shares of 1p in issue each with equal voting rights. No shares are held in treasury. 

The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Fundraising made by the Company on 10 March 2022.

Enquiries:

Notes to editors:

Parsley Box delivers ready meals direct to the underserved Baby Boomer+ consumer, broadly defined as those aged 60 and over. Its mission is to champion and empower the over 60s. The core product range comprises over 60 single portion sized meals spanning various cuisines.

The Baby Boomer+ demographic is growing rapidly; it represented c.24 per cent. of the UK population (16.2 million people) in 2019 and is the only age demographic that is forecast to grow materially in the next 10 years (source: Government Office for Science, Future of an Ageing Population). Parsley Box was founded in March 2017 to specifically target this highly attractive fast-growing market.