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TAST Tasty Plc

1.75
0.00 (0.00%)
19 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tasty Plc LSE:TAST London Ordinary Share GB00B17MN067 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.75 1.50 2.00 1.75 1.75 1.75 252,621 07:49:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Eating Places 44.03M -6.43M -0.0440 -0.40 2.56M

Tasty PLC Restructuring Plan - Update

03/05/2024 4:00pm

RNS Regulatory News


RNS Number : 2431N
Tasty PLC
03 May 2024
 

3 May 2024

Tasty plc

("Tasty", the "Company" or the "Group")

 

Restructuring Plan  - Update  

 

Further to the announcement on 9 April 2024, Tasty (AIM: TAST), the owner and operator of restaurants in the casual dining sector, announces the following update on the Company's restructuring plan (the "Restructuring Plan").

 

Under the Restructuring Plan, there will now be 7 classes of creditors (from the previous 5) with the additional classes of creditors comprising (i) landlords of the loss making sites whereby agreements have been reached in respect of the Group's short term occupation, on the basis of zero or reduced rent and rolling break clauses and (ii) consequential impact upon Rating Authority creditors in respect of such sites. These additional classes do not increase the number of creditors affected by the Restructuring Plan nor do they impact upon the estimated dividends for each class of creditor under the Restructuring Plan. There are no additional changes to the Restructuring Plan.

 

In light of the need for new classes of creditors, a supplemental Practice Statement Letter ("PSL") has been circulated to affected creditors. In order to allow full disclosure and give Plan Creditors sufficient time to consider the amendment, the first Court hearing (the "Convening Hearing") is now expected to take place on 10 May 2024.

 

The second hearing (the "Sanction Hearing") is expected to be held on 4 June 2024, at which the Court considers whether to sanction the Restructuring Plan.  

 

Further announcements will be made, as appropriate, in due course.

 

Enquiries:

 

Tasty plc

Jonny Plant, Chief Executive

 

Tel: 020 7637 1166

 

Cavendish Capital Markets Limited

Katy Birkin/George Lawson

 

Tel: 020 7220 0500

 

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