Business
Placing and Director/PDMR Shareholdings
Placing and Director/PDMR Shareholdings.
About this update from Bow Street Group Plc.
[{"type":"text","content":"\n \nRNS Number : 2953Q Tasty PLC 11 October 2013 \n \n\nTasty Plc (\"Tasty\" or the \"Company\")\nPlacing and Director/PDMR Shareholdings\nThe Company is pleased to announce a placing to raise £2.5million. Further the Company also today announces changes to certain Directors interests in the ordinary shares of 10 pence each (\"Ordinary Shares\") and incentive arrangements in the Ordinary Shares.\nThe Placing\nThe Company today announces that it has raised £2.5million, before expenses, through a placing of 2,500,000 new Ordinary Shares (\"New Shares\") at a price of 100 pence per share (the \"Placing Price\") (the \"Placing\"). The Placing Price represents a discount of 4 per cent. to the closing middle market price of the Company on 10 October 2013 (being the latest practicable date prior to this announcement). The New Shares represent approximately 5.22 per cent. of the current issued share capital of the Company. The Placing is conditional upon admission of the New Shares to trading on AIM and is not underwritten. \nThe net proceeds from the Placing will be used by the Company to fund the continued expansion of restaurants within the Company.\nAs part of the Placing certain Directors of the Company have subscribed for New Shares at the Placing Price as set out below:\n\n\n\n\nName\n\n\nTitle\n\n\nNo. of New Shares subscribed for under the Placing\n\n\n\n\nSamuel Kaye\n\n\nJoint Chief Executive\n\n\n150,000\n\n\n\n\nAdam Kaye\n\n\nNon-Executive Director\n\n\n150,000\n\n\n\n\nKeith Lassman, Chairman of the Company, has also subscribed for 10,000 Ordinary Shares at the Placing Price. \n \nThe directors of the Company (excluding Samuel Kaye and Adam Kaye), having consulted the Company's nominated adviser, consider the subscription for New Shares by Samuel Kaye and Adam Kaye to be fair and reasonable insofar as the Company's shareholders are concerned.\n \nApplication will be made for 2,510,000 Ordinary Shares, being issued as part of the Placing and subscription, to be admitted to trading on AIM and dealings are expected to commence on 18 October 2013.\nDirector Exercise of Options\nEach of the directors of the Company (\"the \"Directors\") has informed the Company that they intend to shortly exercise options granted under the Company's share option plan for approved awards and also as unapproved options. The perf...