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(COH.L) Coffeeheaven international PLC Buy/Sell
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| Date/Time | Headline | Source |
|---|---|---|
| 1 | 2 | ||
| Mon 09:30 | RNS |
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RNS Number : 5502C Coffeeheaven International PLC 16 November 2009 coffeeheaven international plc ("coffeeheaven" or the "Company") Result of AGM The Company is pleased to announce that, at the Annual General Meeting held on 13 November 2009, all resolutions were duly passed. Enquiries:
Richard Worthington Shore Capital and Corporate Limited Tel: +44 20 7408 4090 Guy Peters / Stephane Auton
Simon Turton Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk/. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial advisor authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Shore Capital and Corporate Limited is acting for the Company and for no-one else in connection with the matters referred to herein and will not regard any other person as its client nor be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to any matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END
RAGBFBLTMMBBMLL More |
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| 30-10-09 | RNS |
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RNS Number : 6548B Coffeeheaven International PLC 30 October 2009
For immediate release
coffeeheaven international plc ("coffeeheaven" or the "Company") In accordance with Rule 2.10 of the City Code on Takeovers and Mergers and for the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the Company announces that, following the admission to trading on AIM at 8.00am today of 77,868 new Ordinary Shares of 1p each, it has the following securities in issue: 133,403,843 Ordinary Shares of 1p each. The Company does not hold any shares in treasury and there are no other classes of shares with voting rights. Consequently the Company's total number of voting rights is 133,403,843 and this figure may be used by shareholders 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 coffeeheaven, under the FSA's Disclosure and Transparency Rules. The ISIN reference number for these securities is GB00B0MBD455.
Enquiries:
Richard Worthington,
Executive Chairman
Tel:
Guy Peters, Stephane Auton
Shore Capital, Nominated Adviser
Tel:
This information is provided by RNS The company news service from the London Stock Exchange END
RTTIIFETIELIVIA More |
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| 28-10-09 | RNS |
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RNS Number : 5120B Coffeeheaven International PLC 28 October 2009 coffeeheaven international plc ("coffeeheaven" or the "Company") Issue of Equity coffeeheaven international plc, the AIM listed speciality coffee bar business based in central Europe, has made application to AIM for the admission to trading of 77,868 new ordinary shares of 1p each, which have been issued following the exercise of options under the Company's share-based incentive schemes. The 77,868 new ordinary shares are expected to be admitted to trading on AIM on 30 October 2009. The total number of shares in issue following the exercises of options is 133,403,843. Enquiries:
Richard Worthington Shore Capital and Corporate Limited Tel: +44 20 7408 4090 Guy Peters / Stephane Auton
Simon Turton Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk/. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial advisor authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Shore Capital and Corporate Limited is acting for the Company and for no-one else in connection with the matters referred to herein and will not regard any other person as its client nor be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to any matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END
LISCKFKNDBDDBKB More |
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| 21-10-09 | RNS |
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RNS Number : 1461B Coffeeheaven International PLC 21 October 2009 coffeeheaven international plc ("coffeeheaven" or the "Company") Statement re Director It is with great sadness that the Company announces the death of Jonathan Cooper, Non-Executive Director, who died on 19 October 2009 following a short illness. Jonathan Cooper served as a director of the Company since its admission to AIM in 2001 and the Board would like to record its sincere gratitude for the valuable contribution he made to the Company's success. Richard Worthington, Executive Chairman, commented "Jonathan made a very significant contribution to the development of coffeeheaven. He will be greatly missed by his many friends and colleagues. Our sincere condolences go to his wife and family". Enquiries:
Richard Worthington Shore Capital and Corporate Limited Tel: +44 20 7408 4090 Guy Peters / Stephane Auton
Simon Turton Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk/. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial advisor authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Shore Capital and Corporate Limited is acting for the Company and for no-one else in connection with the matters referred to herein and will not regard any other person as its client nor be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to any matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END
BOAPUGBCUUPBUBG More |
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| 09-10-09 | RNS |
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RNS Number : 5215A J.M. Finn & Co 09 October 2009
DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the Takeover Code)
dealings being disclosed relate (Note 2)
(2) Derivatives (other than options) (3) Options and agreements to purchase/sell
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
Purchase/sale Number of securities Price per unit (Note 5)
(b) Derivatives transactions (other than options)
(c) Options transactions in respect of existing securities (i) Writing, selling, purchasing or varying
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.
If a connected EFM, name of offeree/offeror with which connected If a connected EFM, state nature of connection (Note 10) Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
RETMLBPTMMJMMJL More |
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| 29-09-09 | RNS |
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RNS Number : 8347Z Coffeeheaven International PLC 29 September 2009
For immediate release
coffeeheaven international plc ("coffeeheaven" or the "Company") In accordance with Rule 2.10 of the City Code on Takeovers and Mergers and for the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the Company announces that, following the admission to trading on AIM at 8.00am today of 403,840 new Ordinary Shares of 1p each, it has the following securities in issue: 133,325,975 Ordinary Shares of 1p each. The Company does not hold any shares in treasury and there are no other classes of shares with voting rights. Consequently the Company's total number of voting rights is 133,325,975 and this figure may be used by shareholders 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 coffeeheaven, under the FSA's Disclosure and Transparency Rules. The ISIN reference number for these securities is GB00B0MBD455.
Enquiries:
Richard Worthington,
Executive Chairman
Tel:
Guy Peters, Stephane Auton
Shore Capital, Nominated Adviser
Tel:
This information is provided by RNS The company news service from the London Stock Exchange END
RTTIIFITAVIAFIA More |
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| 28-09-09 | RNS |
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RNS Number : 7585Z Coffeeheaven International PLC 28 September 2009 The following replaces the announcement released on 25 September 2009 at 07.00 RNS Number 6322Z, which incorrectly stated the number of new ordinary shares to be issued and the resulting total number of shares in issue. All other information remains unchanged. coffeeheaven international plc ("coffeeheaven" or the "Company") Issue of Equity coffeeheaven international plc, the AIM listed speciality coffee bar business based in central Europe, has made application to AIM for the admission to trading of 403,840 new ordinary shares of 1p each, which have been issued following the exercise of options under the Company's share-based incentive schemes. The 403,840 new ordinary shares are expected to be admitted to trading on AIM on 29 September 2009. The total number of shares in issue following the exercises of options is 133,325,975. Enquiries:
Richard Worthington Shore Capital and Corporate Limited Tel: +44 20 7408 4090 Guy Peters / Stephane Auton
Simon Turton Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk/. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial advisor authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Shore Capital and Corporate Limited is acting for the Company and for no-one else in connection with the matters referred to herein and will not regard any other person as its client nor be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to any matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END
IOEFVLFLKKBBBBZ More |
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| 25-09-09 | RNS |
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RNS Number : 6322Z Coffeeheaven International PLC 25 September 2009 coffeeheaven international plc ("coffeeheaven" or the "Company") Issue of Equity coffeeheaven international plc, the AIM listed speciality coffee bar business based in central Europe, has made application to AIM for the admission to trading of 403,040 new ordinary shares of 1p each, which have been issued following the exercise of options under the Company's share-based incentive schemes. The 403,040 new ordinary shares are expected to be admitted to trading on AIM on 29 September 2009. The total number of shares in issue following the exercises of options is 133,325,175. Enquiries:
Richard Worthington Shore Capital and Corporate Limited Tel: +44 20 7408 4090 Guy Peters / Stephane Auton
Simon Turton Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk/. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial advisor authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Shore Capital and Corporate Limited is acting for the Company and for no-one else in connection with the matters referred to herein and will not regard any other person as its client nor be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to any matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END
IOECKQKNQBKDFCB More |
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| 23-09-09 | RNS |
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RNS Number : 5391Z BlackRock Group 23 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(b) Derivatives transactions (other than options)
Product name, e.g. CFD Long/short (Note 6) Number of securities Price per unit (Note
(c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
RETFXLFLKKBLBBD More |
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| 22-09-09 | RNS |
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RNS Number : 4823Z BlackRock Group 22 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
Product name, e.g. CFD Long/short (Note 6) Number of securities Price per unit (Note
(c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
RETZLLFLKKBFBBX More |
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| 22-09-09 | RNS |
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RNS Number : 4488Z J.M. Finn & Co 22 September 2009
DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the Takeover Code)
dealings being disclosed relate (Note 2)
(2) Derivatives (other than options) (3) Options and agreements to purchase/sell
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
Purchase/sale Number of securities Price per unit (Note 5)
(b) Derivatives transactions (other than options)
(c) Options transactions in respect of existing securities (i) Writing, selling, purchasing or varying
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.
If a connected EFM, name of offeree/offeror with which connected If a connected EFM, state nature of connection (Note 10) Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
RETCKBKNCBKKPCB More |
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| 21-09-09 | RNS |
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RNS Number : 4065Z BlackRock Group 21 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(b) Derivatives transactions (other than options)
Product name, e.g. CFD Long/short (Note 6) Number of securities Price per unit (Note
(c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
RETZFLFLKKBLBBX More |
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| 18-09-09 | RNS |
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RNS Number : 3321Z BlackRock Group 18 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(Note 7) 5) (c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
RETZVLFFKKBLBBL More |
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| 18-09-09 | RNS |
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RNS Number : 2909Z Coffeeheaven International PLC 18 September 2009
For immediate release
coffeeheaven international plc ("coffeeheaven" or the "Company") In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Company announces that, following the admission to trading on AIM at 8.00am today of 3,361,961 new Ordinary Shares of 1p each, it has the following securities in issue: 132,922,135 Ordinary Shares of 1p each. The ISIN reference number for these securities is GB00B0MBD455
Enquiries:
Richard Worthington,
Executive Chairman
Tel:
Guy Peters, Stephane Auton
Shore Capital, Nominated Adviser
Tel:
This information is provided by RNS The company news service from the London Stock Exchange END
RTTGUUWPBUPBURR More |
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| 17-09-09 | RNS |
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RNS Number : 2542Z BlackRock Group 17 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(Note 7) 5) (c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
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This news article is displayed preformatted as it may contain results tables
RNS Number : 1883Z
Coffeeheaven International PLC
17 September 2009
coffeeheaven international plc
Final Results for the Year Ended 31 March 2009
coffeeheaven international plc ( 'coffeeheaven', the 'Company' or the 'Group'), the operator of branded coffee bars in central Europe, is pleased to present its final results for the 12 months ended 31 March 2009
Highlights
* Net sales from continuing operations increased 55% to £23.3M (2008: £15.0M). (Increase 31% at constant exchange rates).
* Like-for-like sales growth all stores 12% for 12 months to 31 March 2009 (2008: 16%). Like sales growth continuing stores 14%.
* Number of stores trading net of closures at 31 March 2009: 88 (2008: 85). Currently 88 stores net of closures with more under contract or with terms agreed.
* Group EBITDA from continuing operations increased 227% to £2.1M for 12 months to 31 March 2009 (2008: £0.92M) (increase 156% at constant exchange rates)
- Group profit from continuing operations before taxation and share-based payments reserve £0.60M (2008: £0.87M).
* Market closures (Romania and Slovakia) and store disposal program broadly complete.
* Cash and equivalents at 31 March 2009 approximately £2.8M (2008: £1.3M).
Outlook
* Year to 31 March 2010 has started reasonably well given global market conditions.
* Sales for the 5 months to 31 August 2009 increased 18% to £10.2M (at constant foreign exchange rates).
* Group like- for - like sales growth (same 5 month period) was 7% including a strong 11% like sales growth in Poland. All markets except Latvia achieved positive like sales growth.
* Currently 88 stores trading in 5 markets
* About 10 new stores expected to open in the year to 31 March 2010
* Our key market of Poland (representing approximately 72% of revenues) appears to be coming through the financial crises well and, based on recent economic data, is currently Europe's economic 'outperformer'.
Richard Worthington, Executive Chairman of the Group, commented:
'Although many of our markets have been hit by the economic crisis, our key market of Poland has fared better than most as our trading results demonstrate. We see no reason why this situation should change. We believe coffeeheaven as central Europe's leading coffee bar brand continues to grow market share across the region.'
Enquires:
coffeeheaven international plc Tel: +44 7973 442 331
Richard Worthington
Shore Capital and Corporate Limited Tel: +44 20 7408 4090
Guy Peters/Stephane Auton/Edward Mansfield
Opera Public Relations Tel: +44 8450 600650/ 7976 826004
Simon Turton
[
Business Review
coffeeheaven® brand
The coffeeheaven brand is firmly established across central Europe as evidenced by the estimated 10 million or more annual servings through our stores. For many customers coffeeheaven has become part of their daily lives.
coffeeheaven is the recognized market leader in the branded coffee bar sector in central Europe. (source: Allegra Strategies European Coffee Shop Market 2007 & 2008).
coffeeheaven is not only central Europe's overall market leader in the branded coffee bar sector, but in Poland holds an approximate 23% market share (source: Allegra Strategies European Coffee Shop Market 2007 & 2008) and, we believe, holds a similar market share in the Czech Republic and Latvia (trading under the Coffee Nation brand name).
In December 2008, Rzeczposlita (considered Poland's most prestigious daily business newspaper) ranked coffeeheaven as Poland's 11th most powerful brand (trade and services sector).
Also during 2008, at the CEE Retail Awards in Warsaw, coffeeheaven became Caf?etailer of the Year 2008.
Summary of Group Operations
Our Business
The past year has been very challenging.
By the middle of 2008 it was expected that contagion from the US credit crisis would severely impact the markets in central Europe. At the time some commentators predicted an economic collapse of almost 'Armageddon' like proportions. As subsequent events have shown, in most of our markets such predictions did not materialise.
However in response to the circumstances at the time your Board took a number of decisive steps to reduce development expenditures in early stage markets, sell or close loss making stores (where terms could not be renegotiated with landlords or where asset values offered the opportunity for significant one off gains), and took other steps to conserve cash. In summary the overall result has been:
1. The closure of our two smallest markets (Romania and Slovakia) and the sale (or held for sale) of 15 stores across the Group
2. An asset disposal programme that will deliver about £0.9M GBP.
3. A reduction in total operating costs of some £0.5M
4. A narrower focusing of new store development on just Poland and Hungary.
Despite all of the above, the Group opened 12 new stores during the year bringing the total estate to 88 - approximately the same number of stores as at the end of the prior year (85).
The combination of the above actions meant that at 31 March 2009, the Group's Balance Sheet remained strong with a solid cash position and minimal debt.
As the financial crisis unfolded, it became apparent that its impact across central Europe was very polarised. This ran contrary to the 'one scenario fits all' view in the early days of the crisis when cross market contagion was seen by many as the biggest risk factor.
Broadly, as in other parts of the world, those markets that entered the crisis with major economic imbalances (such as Latvia) have been hit hardest (and will take the longest to recover), whilst others such as Poland, (where the imbalances were far less pronounced) have experienced a relatively modest overall impact.
In terms of coffeeheaven's current markets, Poland and the Czech Republic entered the crisis in relatively good economic shape whilst Latvia, Bulgaria, and to a lesser degree Hungary did not.
Results from our five business units broadly follow the different economic scenarios seen in each market.
Our mature market of Poland has again delivered outstanding results.
In the Czech Republic, although the macro economic picture has not been as bleak as in some of our markets, a combination of the crisis, and substantial declines in tourist traffic in Prague hurt our business disproportionably. As a result this market took the major share of our store closures and delivered a generally disappointing financial performance.
In Latvia the economic downturn has been extremely severe and trading results reflect this. However action taken by our local management team has to a large degree mitigated the bottom line impact.
Details of the financial performances of all our markets are addressed elsewhere in this report.
Against the above backdrop, we believe the Group continued to grow sector market share across central Europe as evidenced by our Group sales growth of 55% (31% at constant FX) and like- for -like sales growth of +14%
The table below sets out the first entry date for each of our five current markets and the current numbers of stores by market
Market First entry date Number of stores
Poland August 2000 61
Latvia October 2003 7
Czech Republic September 2004 14
Bulgaria May 2006 3
Hungary September 2007 3
Total 88
Given the above and our target of 350 stores across the region, the Group is still at an early stage of development.
Our People
As with many growing businesses, we face the constant challenge of maintaining the high standards of customer service and product quality that have been key to coffeeheaven's success.
In this respect we believe the motivation, and commitment of all our staff, in particular those that interface directly with our customers in-store, to be crucial and this is reflected in all our human resource strategies.
Extending meaningful equity ownership to a progressively larger proportion of our employees has long been a goal of your Board. We believe this is not only socially responsible but also in the best long-term interests of all coffeeheaven's stakeholders - customers, employees and shareholders.
Our coffeeheaven Partner Program* is now into its third year and we are delighted that more than 50% of all coffeeheaven employees are now shareholders in our company.
Under the coffeeheaven Partner Program (subject to qualifying and vesting periods) all employees have the opportunity to build over time increasing equity ownership in the Group.
This is an innovative program for central European markets but one that we believe will play an increasingly important role in the continuing future success of our business.
Group Financial Results
Group turnover from continuing operations expressed in sterling for the 12 months to 31 March 2009 increased 55% (31% increase at constant exchange rates) to £23,283,037 (2008: £14,984,650).
Group EBITDA from continuing operations for the same period increased 227% to £2,102,284 (2008: £926,064).
Group Profit before taxation and share-based payments from continuing operations for the same period was £600,878 (2008: £872,979).
The year on year reduction in group profit arises in the main from a 88% (56% at constant foreign exchange rates) increase in depreciation expense (due to a number of new stores being acquired with key money) and a reduction in foreign exchange gains.
The Pro Forma Group Profit and Loss Account (which should be read in conjunction with our business model evolution summary ) shows the trading performances of our individual business units and highlights the financial impact on Group results of developing early stage markets.
Administration costs for the trading subsidiaries are addressed in the individual market reports that follow.
Group Financing
The Group's policy is to maintain a strong Balance Sheet through the growth phase.
Cash and cash equivalent at 31 March 2009 were approximately £2.8 M and at 31 July 2009 approximately £2.0M.
In addition the Group has unused credit facilities of approximately £0.6M and additional stand by credit arrangements for fixed asset funding in Poland.
The Group has agreed (subject to contract) additional non-equity funding to enable the group to take advantage of current development opportunities in the region.
Foreign Exchange
Longer-term we anticipate that most of our markets in central Europe will adopt the Euro although current global economic events have put back the timing of such adoption in most markets.
Currently the Group operates with eight currencies, these being: Pounds Sterling (GBP), Polish Zlotys (PLN), Czech Korunas (CZK), Latvian Lats (LVL), Bulgarian Levas (BGN), Euros (EUR), Hungarian Florints (HUF), and US Dollars (USD), each impacting the Group's results in various ways.
Revenues of the Group are currently in PLN, CZK, LVL, BGN, and HUF. In each case there is a material match between the currency of the operating company's revenue stream, primary assets, debt and debt servicing (if applicable).
Under IFRS accounting standards the Profit and Loss Account of the Group has been converted from each local currency at an annual average exchange rate of the local currency against GBP.
In the year to 31 March 2009 there were material movements in foreign exchange rates against the GBP with all our local market currencies.
The actual impact of currency changes on the reported results in GBP for the year to 31 March 2009 is estimated at less than 10% although currency rates have on average moved 14% over the period.
Each operating company in the Group incurs property lease rentals expressed in either local currency, USD, or EUR. Thus the exchange rates between the USD/EUR and the local currency in each market are of material importance since these have a real (as opposed to 'book') cost impact.
Prior to the recent global financial crisis, the Group's mix of currency rentals resulted in a broadly neutral impact on total rents over the nine or so years coffeeheaven has operated in central Europe. Traditionally the Group has used EUR and in some cases USD hedging for rents payable in Polish zlotys (PLN). This hedge generally locked in a twelve month PLN rate at the commencement of each Group financial year.
The impact of currency movements for the Group's markets other than Poland is less significant either because the local currency is 'locked' to the EUR (as in Latvia and Bulgaria) or because the currency exposure has been considered insufficient to hedge.
For the year to 31 March 2009, the Group's EUR/ PLN exchange rate was almost fully hedged at 3.65 PLN to 1 EUR. In the year to 31 March 2010 CHI Polska S.A. has materially hedged its EUR denominated store lease rentals at an average of 4.44 pln = 1 euro. This rate is estimated to increase local currency rental costs in the year to 31 March 2010 on about 70% of group revenues, by approximately 2.3% of sales..
On 10 September 2009 the spot PLN/EUR rate was 4.17 pln = 1 euro.
We believe there were exceptional 'one off' circumstances not entirely connected to the financial crisis that prompted the recent spike in the PLN/EUR exchange rate. The present consensus view is that a 'rate range' of 3.90 to 4.10 pln = 1 euro is a likely sustainable rate going forward.
In other markets we continue to keep our hedging options under review in the light of market conditions.
In addition the Group carries on its Balance Sheet a number of long-term rent and rent deposit assets held in USD and EUR.
Individual Market Review
Poland
Store Sales and operating results - Poland
Store sales from continuing operations for the 12 months to 31 March 2009 increased 29% to £17.2M (2008: £13.3M using constant 31 March 2009 exchange rates).
Like-for-like sales all stores grew 16% in the same period (2008: 16%).
Operating cash flow from continuing stores increased 35% to £4.6M (2008: £3.4M using constant 31 March 2009 exchange rates).
Operating results for all operating stores combined are as follows:
2009 2008
Store operating profit as a percentage of store sales 20% 19%
Store operating cash flows as a percentage of store sales 27% 25%
Our business in Poland continues to perform at the very top end of our KPI target range (i.e.15% -20% store operating profit as a percentage of sales).
We have experienced strong profit performance right across the estate including from many of our earliest stores.
In the year to 31 March 2009 combined cumulative capital expenditures for all stores in the estate represented 104 weeks (2008: 114 weeks) of actual combined cash flow from continuing stores. Our KPI target is 100 - 200 weeks.
New Stores and Store Development
We opened 9 new stores during the year bringing the estate to 59 as at 31 March 2009. One store was 'held for sale' at this date and one further store was closed shortly after the year end.
As a result of the economic crisis we have been taking a more cautious approach to new store development. However it is becoming apparent that in Poland at least the credit crisis has yet to result in any significant softening of prime rental rates.
There are three probable reasons for this. First, the number of retail schemes cancelled or delayed in Poland is limiting availability of new prime space. Second, we believe the most successful malls have generally benefited at the expense of weaker players during the crisis, so demand for quality space is centred on fewer developments. Third, Poland's relatively robust economic performance through the crisis is attracting more new retail offerings looking for 'first time' market entry.
During the year to 31 March 2010 we will continue to selectively seek new quality locations in Poland but with a continuing cautious approach particularly in smaller cities. A further 3 new stores have already been opened in the current year and others are contractually secured or subject to contract.
At the date of this report the estate in Poland is 61 stores including 32 in Warsaw.
Financial Results
Sales at CHI Polska S.A, ('CHIP') from continuing operations expressed in sterling for the 12 months to 31 March 2009 increased 52% (29% at constant exchange rates) to £17,213,426 (2008: £13,305,198 using constant 31 March 2009 exchange rates).
CHIP EBITDA from continuing operations for the same period grew 61% (37% at constant exchange rates) to £3,252,940 (2008: £2,382,847 using 31 March 2009 exchange rates).
CHIP increased pre-tax operating profits for the same period (before IFRS2 adjustments, pre-opening and intercompany charges) by 22% to £2,059,622 (2008: £1,690,723 using 31 March 2009 exchange rates). This represents 12% of sales (2008: 13%).
Administration and other overhead costs for CHIP represent 8.0% of sales (2008:7.5% using 31 March 2009 exchange rates).
All figures relating to CHIP in this section are unaudited and expressed at the constant exchange rate of GBP 1 = 4.4755PLN.
Current Trading Update
As across most of central Europe, weather conditions in Poland over the Spring/Summer 2009 were both varied and extreme which has not been conducive to a strong sales performance in our traditionally weaker first half.
Despite this, local currency sales in the first 5 months of the current financial year to 31 March 2010 (from continuing operations) were approximately £7.3M an increase 20% over the prior year same period (at constant foreign exchange rates).
Like-for-like sales growth for the same period was a robust 11%. Particularly encouraging has been the quality of our like sales growth mix which showed growth in transactions and average check value.
Czech Republic
Store sales and operating results
Store sales from continuing operations for the 12 months to 31 March 2009 increased 21% to £3.5M (2008: £2,9M using constant 31 March 2009 exchange rates).
Like-for-like sales declined 2% in the same period (2008: growth 15%). Like for like sales from continuing operations were flat.
Operating cash flow from stores (continuing operations) increased 9% to £0.52M (2008: £0.48M using constant 31 March 2009 exchange rates).
Operating results for all operating stores combined are as follows:
2009 2008
Store operating profit as a percentage of store sales 4% 9%
Store operating cash flows as a percentage of store sales 15% 17%
Trading in the Czech Republic has been immensely challenging. The combination of the effects of the global crisis on Czech consumers coupled with the sharp decline in tourist numbers in Prague has had a significant negative impact on the local economy and hence our business.
Some market data suggests that the gastronomy sector in central Prague has suffered a year on year decline in sales of 30%.
In the six month period to May 2008 like sales were growing at 15% and at substantially higher rates prior to that period. Results after this period turned like sales negative for the year.
As set out in prior statements, to reduce the negative impact on cash flow and improve profitability, our Czech business has been downsized through the sale or closure of stores and a reduction in overhead costs. We are now focused on a core of stores centred on Prague.
New Stores and Store Development
We opened 2 new stores during the year to 31 March 2009 bringing the estate to now 14. During the year 5 stores were closed and a further 3 were held for sale at the year end.
We have no plans to open new stores in the current financial year to 31 March 2009 although a number of stores will be refitted.
Financial Results
Sales for the year at CHI Czech s.r.o, ('CHIC') from continuing operations expressed in sterling for the 12 months to 31 March 2009 increased 21% to £3,536,037 (2008: £2,915,080 using constant 31 March 2009 exchange rates).
CHIC EBITDA from continuing operations for the same period was negative £75,541 (2008: £95,512 positive using 31 March 2009 exchange rates).
CHIC increased pre-tax losses for the same period (before IFRS2 adjustments, preopening and intercompany charges) to £507,633 (2008: £85,435 loss using 31 March 2009 exchange rates).
Administration and other overhead costs for CHIC for the same period represented 17% of sales (2008: 13% using constant 31 March 2009 exchange rates). This year on year increase reflects the lag in cutting overheads as the business contracted from the sale or closure of stores.
All figures relating to CHIC in this section are unaudited and expressed at the constant exchange rate of GBP 1 = 30.5697 CZK.
Current Trading Update
Trading during the first 5 months of the current year has continued to be challenging. However like-for -like sales in the period were positive.
Sales in the first 5 months of the current financial year to 31 March 2010 from continuing operations were approximately £1.7M, an increase of approximately 13% over prior year same period (at constant foreign exchange rates).
Like-for-like sales growth for the same period was 0.4%.
We are continuing to shrink overheads and are looking for our now smaller overall business to turn cash positive in the current year to 31 March 2010.
Latvia
Store sales and operating results
Store sales from continuing operations for the 12 months to 31 March 2009 increased 26% to £1.5M (2008: £1.2M using constant 31 March 2009 exchange rates).
Like-for-like sales grew 20% in the same period (2008: 10%). Like-for-like sales from continuing operations grew 24%.
Operating cash flow from continuing stores increased 39% to £0.27M (2008: £0.19M using constant 31 March 2009 exchange rate).
Operating results for all operating stores combined are as follows:
2009 2008
Store operating profit as a percentage of store sales 10% 10%
Store operating cash flows as a percentage of store sales 17% 16%
The above results mask the severe decline in sales in the second half of the financial year. In the first half sales growth was 40% and like sales growth 37%.
New Stores and Store Development
During the year we closed one store reducing the estate to 7 stores .
As a result of the current economic crisis, which has been exceptionally severe in this market, retail rental rates have fallen significantly. Not only have we been able to secure very substantial rent reductions in our existing estate but we also see the market as providing future opportunities for expansion although no new stores are currently planned.
Financial Results
Sales for the year at Coffee Nation Limited ('CNL') from continuing operations expressed in sterling for the 12 months to 31 March 2009 increased 26% to £1,548,981 (2008: £1,233,341 using constant 31 March 2009 exchange rates).
CNL EBITDA from continuing operations for the same period turned positive despite the economic situation to £22,197 (2008: £7,526 negative using 31 March 2009 exchange rates).
CNL pre-tax operating loss from continuing operations for the same period (before IFRS2 adjustments and inter-company charges) were £91,034 (2008: £90,888 using 31 March 2009 exchange rates).
Administration and other overhead costs for the same period represent 15.6% of sales (2008: 16.2% using 31 March 2009 exchange rates).
All figures relating to CNL in this section are unaudited and expressed at the constant exchange rate of GBP 1 = 0,8487 LVL.
Current Trading Update
Trading continues to be extremely difficult. The policy of internal devaluation being pursed by the Latvian Government is decimating consumer demand in the short term but is likely longer term to provide many opportunities for our future business.
Sales in the first 5 months of the current financial year to 31 March 2009 from continuing operations were approximately £0.6M a decline of approximately 13% over the prior year same period (at constant foreign exchange rates) Like- for- like sales declined 17%.
r Swift action by local management in cutting operating costs has broadly maintained margins and bottom line trading results. As a result the market remainsEBITDA positive.
Bulgaria
During the year to 31 March 2009, we closed one store reducing the estate to 3. A further store is under contract and is expected to open in early 2010.
As a result of the financial crisis, the market remains challenging but we believe significant real estate and other opportunities will materialize over time.At the present time there are no plans to open further stores other than as above.
We have an experienced management team on the ground to support any future expansion.
Hungary
In the year to 31 March 2009 we opened two new stores and closed one. A further store is currently under construction that will bring our estate to 4.
We are very pleased with the performance in this market and the quality of our sites (all High Street) is particularly strong for building brand presence. As previously announced Hungary will be a focus of our future investment outside Poland.
We have a strong local management team in place and although the headline economic situation in Hungary remains very uncertain, we see this market as having good long term potential for coffeeheaven.
Future new markets
Currently we have no plans to enter new markets during the year to 31 March 2010.
The Future
The current year to 31 March 2010 has started reasonably well given market conditions.
In the first 5 months of the new financial year Group sales are broadly to your Board's expectations.
A solid sales performance from Poland and Hungary has offset weaker 'sales to plan' in our other markets.
Group sales from continuing operations (at constant foreign exchange rates) grew 18% to £10.2M in the 5 months to 31 August 2009.
Group like-for-like local currency sales growth was 7%, including a strong 11% growth in Poland.
All markets other than Latvia achieved positive like-for- like sales growth in the period to date.
Our key market of Poland, which represents approximately 72% of Group revenues, appears to be coming through the economic crisis well. In this market our business remains robust as evidenced by total sales growth and the quantum and quality of like- for- like sales growth.
In this market the coffeeheaven brand continues to dominate the premium coffee bar sector.
Store operating margins in the current year to date remain broadly in line with your Board's expectations although the foreign exchange impact of the euro on rental costs mainly in Poland (which has been addressed earlier in this report) will negatively impact overall store profitability As we have indicated previously we believe this is a temporary impact and one that does not reflect upon underlying trading performance.
At the date of this report the Group has 88 stores trading in 5 markets.
We expect to open about 10 new stores in the year to 31 March 2010.
The present economic situation has presented a number of potential acquisition opportunities that are under early stage consideration by your Board.
We do not intend to open any new markets in the current year.
The Group remains firmly on track to achieve its longer-term goals and your Board, together with our teams of coffee heaven Partners throughout central Europe look to the future with confidence.
Richard D. Worthington
Executive Chairman
Pro-forma Group Income Statement (unaudited) for the year ended 31 March 2009
Poland Czech Republic Latvia Other combined Group
2009 2008 constant 2009 2008 constant 2009 2008 constant 2009 2008 constant 2009 2008 constant
FX FX FX FX FX
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Turnover 17,213 13,305 3.536 2,915 1,549 1,233 985 364 23,283 17,817
Stores- Local materials (12,578) (9,930) (3,010) (2,432) (1,281) (1,041) (750) (274) (17,619) (13,677)
expenses excluding
depreciation - local markets
Net cash inflows from store 4,635 3,375 526 483 268 192 235 90 5,664 4,140
operations - local markets
Administrative costs excluding (1,383) (922) (602) (387) (246) (200) (360) (191) (2,591) (1,770)
depreciation and interest -
local markets
Net cash inflows from 3,252 2,383 (76) 96 22 (8) (125) (101) 3,073 2,370
operations -local markets
(EBITDA)
2008 as reported £'000 2,024 (20) (1) (286) 1,717
including discontinued
operations
Corporate expenses (666) (556)
International
Corporate administration (305) (327)
expenses - UK
Acquisition and development - (143)
expenses
Share of results of associate - (4)
companies
GROUP EBITDA - excluding 2,102 1,340
preopening
and other non-recurring
expenses
Depreciation store and other (1,725) (1,107)
assets - local markets
Store pre-opening costs - (221) (188)
local markets
Other local markets 57 97
Interests (net) corporate 53 92
receivables
Interests (net) local markets (92) 32
Foreign exchange gain 427 722
Profit before taxation and 601 988
non-cash share
based payments
Transfer to Reserves for share (786) (476)
based payments -non cash
Profit / (Loss) before (185) 512
taxation
Taxation (292) (230)
Discontinued operations (1,465) (604)
Minority interest 1 9
Loss attributable to parent (1,941) (313)
equity holders
The Pro-forma Group Profit and Loss Account and associated notes do not form part of the statutory accounts and are therefore unaudited.
Notes to Pro-forma Income Statement
1. Turnover and expenses - local markets
Turnover and all expenses (other than those shown as UK) are received or incurred in Polish Zlotys, Czech Koruna, Latvian Lats, EURO, Bulgarian Lev, Hungarian forint or Romanian Lei and converted to pounds sterling at the rate of £1 = 4,4755 PLN, £1 = 30,5697 CZK, £1 = 0,8487 LVL, £1 =1,2042 EUR, £1 = 2,3594 BGN, £1 = 312,1639 HUF, £1 = 4.6065 RON which are the average exchange rates attributable to the business in force during the 12 months period to 31 March 2009. To provide constant FX prior year comparatives the financial results for the prior year to 31 March 2008 have been restated at foreign exchange rates used for reporting the financial results for the year to 31 March 2009.
2. Administrative costs - local markets
This represents all overhead costs attributable to the business in local markets only (excluding depreciation and interest).
3. Corporate expenses - International
This represents remuneration and other costs incurred predominately in supporting new local markets and certain Group marketing and operational support services.
2009 2008
£'000 £'000
Salary and travel - international 411 253
Consultancy and related expenses - international 186 192
Administration and other expenses - international 69 111
Total international expenses 666 556
4. Corporate administration expenses - UK
This represents principally costs incurred as a result of the Company's public listing on AIM, together with fees paid to the Directors for these services as members of the Board of coffeeheaven international plc. Costs (including fees, salaries and expenses) of the Directors who perform services in local markets are included (if applicable) under Administrative costs - local markets.
2009 2008
£'000 £'000
Directors' fees for services rendered in the UK - 4 Directors 114 87
AIM, legal and other professional expenses - UK 75 113
Accountancy, administration and insurance - UK 75 59
Audit fees - UK 35 25
Other expenses - UK 6 43
Total 305 327
5. Acquisition and Development expenses - UK
This relates to the development of and research on new markets as follows:
2009 2008
£'000 £'000
Hungary - 13
Romania - 54
All other - 76
Total international expenses - 143
6. Depreciation - local markets
2009 2008
£'000 £'000
Poland 1,122 776
Czech Republic 408 215
Latvia 130 89
Other combined 65 27
Total international expenses 1,725 1,107
7. Store pre-opening costs - local markets
This represents expenses on stores incurred prior to opening. Expenses incurred prior the first store opening in a new local market where applicable) are shown separately under acquisition and development expenses.
2009 2008
£'000 £'000
Poland 83 80
Czech Republic 111 103
Latvia - -
Other combined 27 5
Total international expenses 211 188
8. Net interest receivable / (payable)
Represents bank interest paid and received by Group companies
9. Foreign exchange gains
Represents unrealized foreign exchange gains on foreign currencies and loans denominated in currencies other than GBP.
10. Share base payment charges
Under IFRS2 the amount to be charged to the statutory Profit and Loss account for any period is based upon a time apportioned estimate of the fair value of any financial instrument (in the case of the Company this is options over shares in the Group - 'the Share Options') between the date of grant and the date of vesting. This fair value figure is then adjusted by making estimates of the number of participants holding Share Options that are likely to be still employed by the Group at the vesting date and/ or whether the performance vesting criteria attaching to any of the Share Options are likely to met. The resulting amount is then spread over the time period from the date of grant to date of vesting of the Share Options with each corresponding profit and loss reporting period being proportionally charged.
11. Taxation
The Group taxation charge for the year to 31 March 2009 relates principally to CHI Polska S.A. and CHI Hungary.
12. Discontinued operations
Discontinued operations represent operational losses and net gain or loss on disposal for all stores which by the year end had either been sold, closed or were being held for sale at 31 March 2009.
13. Minority interests
Represents a 15% minority interest in CHIR Cafe SRL and a 45% minority interest in Coffee Zone Sp. z.o.o.
Group Income Statement for the year ended 31 March
2009
2009 2008
£ £
Revenue 23,283,037 14,984,650
Cost of sales (11,485,353) (7,375,846)
Gross Profit 11,797,684 7,608,804
Administration expenses - excluding: pre opening
expenses, finance income and expense,
depreciation, share based payments and non-cash
expenses
- Operating companies (9,046,426) (6,039,204)
- Corporate overhead (648,974) (643,536)
Total (6,695,400) (6,682,740)
Group EBITDA - excluding pre-opening and other non 2,102,284 926,064
recurring expenses
Pre-opening expenses (220,703) (75,552)
Finance income 1,085,765 1,071,921
Finance costs (601,147) (69,897)
Share of loss of associates - (3,069)
Total 263,915 923,403
Depreciation and amortisation (1,724,862) (934,172)
Other non-cash expenses (40,459) (42,316)
Total (1,765,321) (976,488)
Profit before taxation and non-cash share based 600,878 872,979
payments
Share based payments (785,889) (423,082)
Loss before taxation (185,011) 449,897
Taxation (291,566) (198,735)
Loss for the year from continuing operations (476,577) 251,162
Discontinued operations
Loss for the year from discontinued operations (1,464,728) (520,152)
Loss for year (1,941,305) (268,990)
Loss attributable to equity holders of the parent (1,940,630) (260,479)
Loss attributable to minority interests (675) (8,511)
Including discontinued operations
Earnings per share - basic (pence) (1.51)p (0.22)p
Earnings per share - diluted (pence) (1.51)p (0.22)p
Excluding discontinued operations
Earnings per share - basic (pence) (0.37)p 0.22p
Earnings per share - diluted (pence) (0.37)p 0.20p
Group Balance Sheet at 31 March 2009
2009 2008
£ £
Non-current assets
Goodwill 959,236 691,035
Other Intangible assets 83,656 58,903
Property plant and equipment 8,315,221 9,142,967
Investment in associate 2,363,044 1,792,188
Deferred tax asset 82,788 79,870
Trade and other receivables 784,967 850,387
Total non-current assets 12,588,912 12,615,350
Current Assets
Inventories 416,256 453,125
Trade and other receivables 1,451,044 1,369,864
Cash and cash equivalents 2,831,248 1,259,845
4,698,548 3,082,834
Assets classified as held for sale 452,735 -
Total assets 17,740,195 15,698,184
Current liabilities
Trade and other payables (2,816,216) (2,426,708)
Current Borrowings (328,117) (196,149)
Income Tax (107,883) -
(3,252,216) (2,622,857)
Non-current liabilities
Deferred Tax (19,757) -
Trade and other payables (725,570) (715,772)
Borrowings (197,202) -
(942,529) (715,772)
Total liabilities (4,194,745) (3,338,629)
Net Assets 13,545,450 12,359,555
Equity
Called up share capital 1,292,140 1,174,203
Share premium account 14,897,371 11,627,518
Capital redemption reserve 740,000 740,000
Retained earnings (3,846,689) (2,691,948)
Translation reserve 461,245 1,517,032
Equity attributable to equity holders of the parent 13,544,067 12,366,805
Minority interest 1,383 (7,250)
Total equity 13,545,450 12,359,555
Group Statement of Cash Flows for the year ended 31
March 2009
2009 2008
£ £
Cash flow operating activities
Loss before taxation (1,649,739) (70,255)
Adjustments for:
Finance income (1,166,206) (1,086,166)
Finance costs 623,437 91,954
Depreciation and amortisation 2,731,003 1,116,746
Foreign exchange gains on operating activities 99,362 (58,604)
Share based payments expense 785,889 423,082
Loss of associate - 3,069
Remeasurement of assets for sale 316,076 -
Loss/ (profit) on disposal of property plant and (290,075) 42,316
equipment
Operating cash flows before movement in working 1,449,747 462,142
capital
Increase in inventories (13,285) (107,095)
Increase in trade and other receivables 273,468 (859,404)
Increase in trade and other payables (33,567) 566,326
Cash generated from operations 1,676,363 61,969
Taxation paid (162,349) (152,623)
Net cash from operating activities 1,514,014 (90,654)
Cash flows from investing activities
Payments to acquire Property, plant and equipment (3,065,271) (3,856,593)
Payments to acquire intangible fixed assets (700,706) (616,149)
Proceeds from disposal of property, plant and 442,062 29,961
equipment
Loan to associated company - (334,412)
Acquisition of subsidiary net of cash received (200,928) 202,046
Disposal of treasury bills - 189,778
Interest received 73,024 121,849
Net cash used in investing activities (3,451,819) (4,263,520)
Cash flows from financing activities
Issue of ordinary share capital 3,387,790 3,677,820
Payment of deferred consideration (56,318) (81,535)
Proceeds from borrowing 715,941 -
Repayment of borrowings (165,033) -
Interest paid (64,125) (10,202)
Net cash from financing activities 3,818,255 3,586,083
Net decrease in cash and cash equivalents 1,880,450 (768,091)
Exchange gains on cash and bank overdrafts (112,898) 211,914
Cash and cash equivalents at beginning of year 1,063,696 1,619,873
Cash and cash equivalents at end of year 2,831,248 1,063,396
Notes
The financial information set out in this preliminary announcement does not constitute statutory accounts as defined in section 240 of the Companies Act 1985.
The financial information has been extracted from the Group's 2009 financial statements. Those financial statements have not yet been delivered to the Registrar, however the group's auditors have given an unqualified audit opinion on those financial statements. The preliminary results have been prepared under the historical cost convention in accordance with International Financial Reporting Standards.
Loss per Share
The calculation of the earnings per ordinary share for the year ended 31 March 2009 is based on a loss of £1,940,630 (2008: £260,479) and ordinary shares 128,471,119 (2008: 116,272,706), being the weighted average number of ordinary shares in issue during the year.
Both periods being reported show a loss from continuing operations, therefore the diluted loss per share is equal to the basic loss per share for both periods.
The Company has 13,277,738 ordinary shares currently under option. These share options are currently anti-dilutive, but represent potential ordinary shares which may become dilutive in the future.
Dividend
The Directors are not proposing that a dividend payment is made.
Annual report and accounts
The 2009 Annual Report and Accounts will be posted to shareholders on or before 24 September 2009 and will be available in electronic format at the Company's website www.coffeeheaven.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR LFMATMMIBBIL
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| 16-09-09 | RNS |
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RNS Number : 1782Z BlackRock Group 16 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(Note 7) 5) (c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
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| 15-09-09 | RNS |
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RNS Number : 0857Z BlackRock Group 15 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(Note 7) 5) (c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
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| 14-09-09 | RNS |
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RNS Number : 0147Z BlackRock Group 14 September 2009 FORM 8.3 DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE (Rule 8.3 of the City Code on Takeovers and Mergers)
dealings being disclosed relate (Note 2)
(a) Interests and short positions (following dealing) in the class of
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
(b) Interests and short positions in relevant securities of the company,
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total
Class of relevant security: Details
(Note 7) 5) (c) Options transactions in respect of existing securities
Product name, e.g. call option Number of securities Exercise price per unit (Note 5) (d) Other dealings (including new securities) (Note 4) Nature of transaction (Note 8) Details Price per unit (if applicable) (Note 5)
Agreements, arrangements or understandings relating to options or derivatives Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. None**************************
connected If a connected EFM, state nature of connection (Note 10) N/A Notes The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk This information is provided by RNS The company news service from the London Stock Exchange END
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| 14-09-09 | RNS |
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RNS Number : 0086Z Coffeeheaven International PLC 14 September 2009 coffeeheaven international plc ("coffeeheaven" or the "Company") Issue of Equity coffeeheaven international plc, the AIM listed speciality coffee bar business based in central Europe, has made application to AIM for the admission to trading of 3,361,961 new ordinary shares of 1p each (the "New Ordinary Shares"). The New Ordinary Shares comprise 3,228,550 shares that have been issued and allotted to Capita Trustees Limited to satisfy awards previously made under the Company's Employee Share Ownership Trust for the year's 2008 and 2009 and 133,411 shares that have been issued following the exercise of options under the Company's share-based incentive schemes. The New Ordinary Shares will rank pari passu with the existing ordinary shares. The New Ordinary Shares are expected to be admitted to trading on AIM on 18 September 2009. The total number of shares in issue following the exercises of options is 132,922,135. Enquiries:
Richard Worthington Shore Capital and Corporate Limited Tel: +44 20 7408 4090 Guy Peters / Stephane Auton
Simon Turton Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by an offeror or the Company, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk/. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial advisor authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Shore Capital and Corporate Limited is acting for the Company and for no-one else in connection with the matters referred to herein and will not regard any other person as its client nor be responsible to anyone other than the Company for providing the protections afforded to clients of Shore Capital and Corporate Limited nor for providing advice in relation to any matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END
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