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|Franchise Brand Daily Update: Franchise Brand is listed in the Support Services sector of the London Stock Exchange with ticker FRAN. The last closing price for Franchise Brand was 92.50p.|
Franchise Brand has a 4 week average price of 87.50p and a 12 week average price of 69p.
The 1 year high share price is 103.50p while the 1 year low share price is currently 36.50p.
There are currently 10,606,061 shares in issue and the average daily traded volume is 35,775 shares. The market capitalisation of Franchise Brand is £9,810,606.43.
|trt: Excellent appointment a wealth of experience he has. Share price will push a lot higher than £1 another flurry of buys and up she goes !|
|trt: These acquisitions are strongly earnings enhancing and will result in increased profits and dividends going forward. The share price level now certainly does not reflect potential future profits, that's why we have and are seeing buyers flocking in.|
|someuwin: 22 March 2017
FRANCHISE BRANDS PLC
("Franchise Brands", the "Group", or the "Company")
Statement re share price movement and suspension of share trading on AIM
Franchise Brands, a multi-brand international franchisor, notes the recent price movement of its shares on AIM and confirms that the Company is in advanced stages regarding a potential acquisition which would constitute a reverse takeover under the AIM Rules for Companies. Whilst the Company has entered into an exclusive agreement regarding the potential acquisition, any transaction remains subject to a number of factors, including completing due diligence and negotiations to the Company's satisfaction, and, as such, there can be no certainty that a final binding agreement will be reached.
The potential acquisition would be consistent with the Company's strategy, as outlined at the time of its recent IPO, to pursue selective acquisitions of complementary franchise businesses that could benefit from the Company's central services and also the experience of the Board and management team in developing franchise businesses.
Should the proposed acquisition proceed, as it would constitute a reverse takeover under rule 14 of the AIM Rules for Companies, shareholder approval will be required. As such, a further announcement with full details of the transaction would be issued at the appropriate time once binding contracts are entered into and an admission document published and sent to shareholders with a notice of general meeting. In accordance with rule 14 of the AIM Rules for Companies, the Company's shares will be suspended from trading on AIM with immediate effect until either publication of the admission document or announcement of the transaction not proceeding.
The Company is also in the process of finalising its audited financial results for the year to 31 December 2016, which are expected to be announced shortly|
Franchise Brand share price data is direct from the London Stock Exchange