Business
Results of Placing and Notice of General Meeting
Results of Placing and Notice of General Meeting.
About this update from Coppa Collective Plc
[{"type":"text","content":"\n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \nVarious Eateries plc\n \n(\"Various Eateries\", the \"Company\" or the \"Group\")\n \nResult of Placing\nConditional Conversion of Debt Into Equity\nPDMR Trading\nConditional New Facility Agreement\nProposed New Options\nNotice of General Meeting\n \nVarious Eateries plc (AIM:VARE) confirms further to its announcement of 7.00 a.m. (London time) on 6 December 2023 (the \"Announcement\"), that it has successfully closed the Placing.\nResult of Conditional Placing\nSubject to the satisfaction of the conditions referred to below, the Placing has raised, in aggregate, gross proceeds of £10.1 million (c£9.7m net proceeds) through the placing of 40,400,000 Ordinary Shares (the \"Placing Shares\") with certain institutional and other investors at a price of 25 pence per share (the \"Placing Price\"). The Holdings of shareholders who do not participate in the Placing will be diluted by 50.8 per cent as a result of the placing.\nThe Placing is not being underwritten and is conditional, inter alia, upon:\na) the passing, without amendment, of the Resolutions, including the Rule 9 Waiver Resolution at the General Meeting;\n \nb) the execution of the Conversion documents, and the Conversion documents not having been terminated in accordance with their terms prior to Admission\n \nc) Admission becoming effective by no later than 8.00 a.m. on 27 December 2023 (or such other time and/or date, being no later than 8.00 a.m. on 31 January 2024, as the Placing Agent and the Company may agree);\n \nd) the other conditions in the Placing Agreement being satisfied or (if applicable) waived; and\n \n \ne) the Placing Agreement not having been terminated in accordance with its terms prior to Admission.\n \nConversion\nThe Company confirms that, as set out in the ann...