DP Poland, the Domino’s Pizza master franchise owner for Poland, got off to a strong start today.
DP Poland raised £6.5m at 50p a share prior to joining Aim. At the end of the first day’s trading the shares were trading at 55p each, which values DP Poland at £10.9m. The bid/offer spread is 53p/57p.
Non-executive directors Rob Morrish and Nick Donaldson have each been awarded 50,000 shares under the DP Poland plc Share Incentive Plan. This is a nil cost award but they will not get their hands on them for two years.
Stancroft Trust owns 800,000 shares in DP Poland, equivalent to 4.04%.
The franchise rights have been awarded to DP Poland for 15 years with the option to extend for a further 10 years.
The plan for DP Poland is to open at least 50 stores in Poland by 2015. There should be 27 opened by the end of 2012. The initial focus will be on Warsaw.
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