Business
Trading Update, Bank Facility & Result of GM
Trading Update, Bank Facility & Result of GM.
About this update from Bow Street Group Plc.
[{"type":"text","content":"\n \n \n \n RNS Number : 9163L\n Tasty PLC\n 15 January 2021\n \n \n \n \n 15 January 2021\n \n \n Tasty plc\n \n \n (\"Tasty\" or the \"Company\")\n \n \n \n \n \n \n Trading Update, Bank Facility and\n \n \n Result of General Meeting \n \n \n \n \n Tasty (AIM: TAST), the owner and operator of restaurants in the casual dining sector, is pleased to announce the following updates:\n \n \n \n Trading Update and Bank Facility\n \n \n \n \n \n Since the Company's Trading Update announced on 15 December 2020 (and as further updated on 23 December 2020), the UK has been subject to unexpected increased restrictions as a result of the third \n COVID-19 lockdown, leading to the closure of all in-dining at the Company's restaurants. As a result, the Company currently has open approximately 38 units providing takeaway and delivery services only.\n The Company continues to monitor developments affecting its restaurants in line with the continually changing UK restrictions.\n \n \n \n \n \n As previously announced, the Company has now been successful in achieving rent reductions and lease concessions on more than half of the estate. The Company is continuing consensual negotiations with landlords and other creditors in respect of outstanding rents and, given the current third lockdown, now anticipates that this process will continue into at least March 2021. The Company will again be relying on Government support for employees' pay and VAT, and business rate holidays and grants, where available.\n \n \n \n \n \n The bank facility secured in order to strengthen the Company's balance sheet and provide additional working capital support as detailed in the announcement dated 30 September 2020, has now been drawn down by the Company.\n \n \n \n Result of General Meeting \n \n \n \n All resolutions put to shareholders at the Company's General Meeting held earlier today, were duly passed on a show of hands.\n \n \n \n The total proxy votes were cast as follows:\n \n \n \n \n \n \n \n \n \n Resolution\n \n \n \n \n For\n \n \n \n \n %\n \n \n \n \n Against\n \n \n \n \n %\n \n \n \n \n Withheld\n \n \n \n \n \n \n 1\n \n \n \n \n 48,218,042\n \n \n \n \n 100.00\n \n \n \n \n 0\n \n \n \n \n 0.00\n \n \n \n \n 51,750,041\n \n \n \n \n \n \n 2\n \n \n \n \n 99,965,873\n \n \n \n \n 100....