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DP Poland

  • BY: Andrew Hore |
  • POSTED: 09/11/2012 |

DP Poland is raising more cash at a one-third discount to the market price.

The Poland-based pizza company is raising £10.5m at 15p a share. The cash will be used to grow its portfolio of Domino’s Pizza sites in Poland. It plans to open 10 more company-owned stores in 2013 and 2014 and increase marketing spending. The cash will also cover ongoing losses.

Existing and new directors are participating in the placing. Caffe Nero boss Gerry Ford is subscribing for 500,000 shares and Chris Moore, who used to run the UK franchisee of Domino’s Pizza, is subscribing for 333,333 shares. Both men are becoming non-executive directors.

At 22.5p a share, the current share capital is valued at £21.5m. DP Poland joined Aim more than two years ago at 50p a share and last year raised cash at 60p a share.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2012_37.pdf

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