Inactive Instrument

Patisserie Holdings PLC

GB00BM4NV504

Patisserie : Disposal

February 14, 2019 at 06:37 am EST

Disposal

Released : 14-02-2019 11:26

RNS Number : 0370Q Patisserie Holdings PLC 14 February 2019

Patisserie Holdings PLC - CAKE Disposal

For immediate release

14 February 2019

Patisserie Holdings plc

Disposal

Patisserie Holdings plc (AIM: CAKE) (PH or the Company) announces today that, following the Company's administration it has today completed the sale of Patisserie Valerie to Dublin based Causeway Capital and Philpotts to A.F.Blakemore for a total consideration of £13m comprising £10m cash and £3m deferred consideration. Strong interest has also been received for Baker and Spice and an update will be provided shortly. Following the loss of its nominated adviser and the appointment of administrators the Company is provisionally scheduled for cancellation with effect from 7:00am on 25 February 2019. In the circumstances no objection will be made to such cancellation and it is expected that this will proceed at the appointed time.

Enquiries:

Patisserie Holdings plc

KPMG contact Kate Broomhead tel: 0161 246 4623

David Costley-Wood, Joint administrator Blair Nimmo, Joint administrator

The information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contactrns@lseg.com or

visitwww.rns.com.

END

DISGGUCAPUPBGUC

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Patisserie Holdings plc published this content on 14 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 February 2019 11:36:11 UTC

Latest news about Patisserie Holdings PLC

Patisserie : Valerie rescued by Irish fund Causeway	19-02-15	RE
Patisserie : sells Baker & Spice business	19-02-15	RE
Patisserie : Valerie rescued by management with help from Causeway Capital - FT	19-02-14	RE
Patisserie : Britain's Mike Ashley deserts short-lived bid for Patisserie Valerie	19-02-11	RE
Patisserie : Sports Direct drops Patisserie Valerie offer - FT	19-02-10	RE
Patisserie : Mike Ashley bids to add Patisserie Valerie cakes to UK retail empire	19-02-08	RE
Patisserie : Scandal-hit Patisserie Valerie owner calls in administrators	19-01-22	RE
Patisserie : Valerie owner appoints KPMG as administrator	19-01-22	RE
Grant Thornton hit record $5.45 billion in revenues last year	19-01-08	RE
Patisserie : Accounting fraud hit Patisserie to replace auditor	18-12-20	RE
Patisserie : Valerie owner appoints Nick Perrin as interim CFO	18-12-05	RE
Patisserie : UK watchdog investigates Grant Thornton's Patisserie audit	18-11-21	RE
Patisserie : Accounting firm Grant Thornton appoints new UK chief successor	18-11-19	RE
Patisserie : gets more time to agree on loan with main lenders	18-11-19	RE
Patisserie : Valerie owner's suspended finance director resigns	18-10-26	RE
Patisserie : winding-up petition dismissed, co to probe share issues	18-10-24	RE
Patisserie : Valerie shareholder meeting called, shares to remain suspended	18-10-16	RE
Patisserie : Accounting firm Grant Thornton's UK chief to step down	18-10-15	RE
Patisserie : UK's scandal-hit Patisserie Valerie saved by 20 million pound loan from chairman	18-10-12	RE
FTSE : fails to rebound in worst week since February	18-10-12	RE
Patisserie : Valerie seeks 20 million pounds to stay afloat	18-10-12	RE
Patisserie : UK anti-fraud agency investigates individual over Patisserie Valerie scandal	18-10-12	RE
Patisserie : UK accounting watchdog says looking at Patisserie Valerie	18-10-12	RE
Patisserie : Valerie owner warns of collapse without urgent capital injection	18-10-11	RE
Patisserie : Valerie finds accounting errors, suspends CFO	18-10-10	RE

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Company Profile

Patisserie Holdings PLC is a United Kingdom-based cafe and casual dining company. The Company offers cakes, pastries, snacks, meals, and hot and cold drinks across the United Kingdom. The Company's segments include Patisserie Valerie, Druckers, Baker & Spice, Flour Power and Philpotts. It offers products, such as coffee, dairy, fruit, packaging, cocoa and wheat items. It offers cakes in various categories, including celebration cakes, gluten free cakes and wedding cakes. The Company operates under various brands, including Patisserie Valerie, Druckers-Vienna Patisserie, Philpotts, Baker & Spice and Flour Power City Bakery. The Company offers a range of cakes, such as Gluten Free Flapjack, Gluten Free Chocolate Chip Muffin, Cortina, Chocolate Box, Carrot Cake, Cheesecake, Blackforest, Exotic Fruit Tart, Pecan Tart, Citron Tart, Choc Mousse, Mixed Berry Mousse, Raspberry Tart, Madame Valerie Slice, Mille-Feuille, Gluten Free Chocolate Brownie and Gluten Free Marble Cake.

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Restaurants & Bars

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