DMH Stallard advises Allenby Capital on acquisition and fundraising by The Fulham Shore plc

31 Mar 2015

The Fulham Shore plc (AIM: FUL) announced on 30 March 2015 that it had conditionally agreed to acquire 99 per cent. of the issued share capital of Rocca Limited, the owner of the Franco Manca restaurant group. Franco Manca specialises in Neapolitan sourdough pizza and currently has ten restaurants in London. One of these restaurants, on Tottenham Court Road, is currently operated by the company under a franchise agreement. The aggregate consideration for the acquisition is approximately £27.5 million, to be satisfied as to approximately £6.2 million in cash and the balance of approximately £21.3 million by the issue of 193,457,975 new shares at 11p per share.

The company also announced that it had conditionally raised a total of £4.75 million via a placing by Allenby Capital and subscription of new ordinary shares at 11p per share.

The acquisition and fundraising are subject to the approval of certain resolutions at a general meeting to be held on 20 April 2015.

Jonathan Deverill, Partner and London Head of Corporate, led the DMH Stallard team advising Allenby Capital on the transaction and was assisted by paralegal Hannah Shamsolmaali.

For more information please contact Chris Gape, Cobb PR at 01323 416999 or chris@cobbpr.com.

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