Business
Company Update and Issue of Equity
Company Update and Issue of Equity.
About this update from Roadside Real Estate Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5114A\n Barkby Group PLC (The)\n 30 September 2020\n \n \n \n \n 30 September 2020\n \n \n The Barkby Group PLC\n \n \n (\"Barkby\", the \"Group\" or the \"Company\")\n \n \n Company Update and Issue of Equity\n \n \n \n \n \n The Barkby Group PLC, the diversified business group, announces the following update.\n \n \n \n \n \n Board change\n \n \n Following the appointment of Douglas Benzie as Chief Financial Officer in March, Emma Dark has formally stepped down as a Director and Company Secretary of the Group. Emma will continue to support the Group finance function in a non-statutory role. Emma has led the finance function of the Group since its inception. The Board would like to thank Emma for her contribution to the Group, particularly her significant role in the acquisition that completed earlier this year.\n \n \n \n \n \n Deferred consideration amendment\n \n \n Barkby and Turf to Table Ltd have agreed an amendment to the deferred consideration due to Turf to Table relating to Barkby's acquisition of pub assets and trade in 2018.\n \n \n \n \n \n Barkby will now pay £115,000 in lieu of the balance of existing deferred consideration of £150,000. £60,000 of the outstanding £115,000 due will be satisfied by the issue and allotment of 260,869 ordinary shares in the capital of Barkby (\"Ordinary Shares\") at a price of 23 pence per Ordinary Share, and the balance of £55,000 is payable in cash no later than 30 September 2020. The amendment to the original terms will conserve £95,000 of cash for the Group.\n \n \n \n \n \n Issue of Equity\n \n \n Barkby has applied to the London Stock Exchange for 260,869 Ordinary Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective and trading will commence in the new Ordinary Shares at 8.00 a.m. on 1 October 2020. On Admission the Company's issued share capital will comprise 135,495,935 Ordinary Shares, of which none are held in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 135,495,935. This figure 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 C...