Domino’s completes £62m acquisition of Ireland business
Shorecal Limited is Domino’s largest franchisee in Ireland.
Domino’s Pizza Group DPG has fully acquired Shorecal Limited, the largest Domino’s franchise business operating in the Republic of Ireland and Northern Ireland for a total consideration of €72m or approximately £62m.
61% of the is payable in cash, with the remaining 39% to be satisfied by an issuance of shares in the company based on the VWAP of the Company's shares for the trailing three-month period.
Applications have been made to the Financial Conduct Authority for admission of the 6,700,909 new ordinary shares to the premium listing segment of the Official List of the Financial Conduct Authority and to London Stock Exchange plc for admission to trading of such New Shares on its main market for listed securities (together, "Admission") and Admission is expected to take place at 8.00 AM. on 16 April 2024. The New Shares will rank pari passu with the existing ordinary share capital of the Company.
Following the FCA's Disclosure Guidance and Transparency Rules, following this issue, the company's issued share capital consists of 401,443,336 ordinary shares of 25/48 pence each.
Shorecal operates 34 of the 99 Domino’s stores across the Republic of Ireland and Northern Ireland.
