Loungers announces that it has allotted and issued 338,664 ordinary shares of 1 pence each in the Company ("Ordinary Shares") following the vesting of awards made to 673 Company employees pursuant to the Company's Employee Share Plan. This share plan rewards team members who are based predominantly in Lounges and Cosy Clubs across the UK, with share awards based upon length of service.
The Company has made an application for the 338,664 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 7 May 2021.
Following Admission, the Company will have 102,738,664 Ordinary Shares in issue, each with voting rights, which figure may then be used by shareholders in the Company 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, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.