Completion of Bond Issue
19 Maio 2003 - 7:21AM
UK Regulatory
RNS Number:2499L
Coffeeheaven International PLC
19 May 2003
coffeeheaven international plc
("coffeeheaven" or the "Company")
Completion of Bond Issue
coffeeheaven is pleased to announce that 'Series A' of the bond issue programme
by it's wholly owned trading subsidiary, CHI Polska S.A. ("CHIP"), was fully
subscribed and raised 14,000,000 Polish Zlotys (approx. #2.33m). CHIP opted to
place the entire issue with the Polish subsidiary of one of the biggest
financial groups in the world.
coffeeheaven's long term objective is to establish a national chain of branded
coffee- sandwich stores in Poland with representation in all of it's major
cities and in the process consolidate its market leadership positioning in the
sector of specialised retail coffee-sandwich stores. As these objectives are
being achieved in Poland the Company may, subject to satisfactory conditions,
look at opportunities to extend its operations into other central European
markets.
CHIP now has 13 stores trading and 4 new sites under contract, giving a total of
17 sites in Poland. In addition a number of other sites in Poland are close to
contract completion. The Company's longer-term objective is to establish a chain
of at least 50 stores in Poland by 31 December 2006.
"The successful issue of bonds substantially secures the funding required to
complete the planned store development programme in Poland and enables the group
to commence penetration of other markets in the central European region", says
Richard Worthington, coffeeheaven's Executive Chairman. "We are delighted to
have the support of such a strong financial institution."
Enquiries:
Richard Worthington, Executive Chairman +48 606 818 850
or +44 7973 442 331
richworth@aol.com
Sandra Hewett, Shmr +44 20 7689 3116
sandra@shmr.co.uk
Jeremy Porter, Seymour Pierce Ltd +44 20 7648 8700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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