Cooks Coffee Company Limited, the international coffee-focused café chain, is pleased to announce that it has raised gross proceeds of £320k through the issue of 4,077,761 ordinary shares.
The placing comprised the issue of 2,425,714 ordinary shares with UK investors, and the issue of 1,652,047 ordinary shares to New Zealand investors.
The net proceeds of the placing will be used to provide working capital, principally to enhance the digital offering of the Company and to provide a fund to support franchisee growth and development.
Michael Ambrose, a non-executive director of the Company, purchased 100,000 ordinary shares in the Company at a price of NZ$0.20 per ordinary share. Following the above purchase, Mr Ambrose has a beneficial interest in a total of 1,150,000 ordinary shares, representing approximately 1.79% of the issued share capital of the Company, as enlarged by the placing.
Paul Elliott, a non-executive director, purchased 75,833 ordinary shares in the Company at a price of NZ$0.20 per ordinary share. Following the above purchase, Mr Elliott has a beneficial interest in a total of 627,962 ordinary shares, representing approximately 0.98% of the issued share capital of the Company, as enlarged by the placing.
Admission and Total Voting Rights
The Placing has been conducted utilising the Company’s existing share authorities. The Placing Shares will rank pari passu in all respects with the Company’s existing Ordinary Shares.
Application will be made for admission of the Placing Shares to trading on the New Zealand Stock Exchange and the Aquis Stock Exchange Growth Market, and it is expected that Admission will become effective on 8 August 2024.
On Admission, the Company’s issued share capital will consist of 62,873,208 Ordinary Shares, each with one voting right. The Company also has 1,207,000 unquoted non-voting shares (which may be reclassified on written notice as quoted ordinary shares) in issue. The figure of 64,080,208 may 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 FCA’s Disclosure and Transparency Rules.
The directors of Cooks Coffee Company Limited accept responsibility for this announcement.
Enquiries:
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Cooks Coffee Company Limited |
+64 21 702 509 (New Zealand) |
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Keith Jackson (Executive Chairman) |
keith.jackson@cookscoffeecompany.com
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+44 (0) 20 3934 6630 (UK) ukinvestorrelations@cookscoffeecompany.com
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