The Restaurant Group gets wagamama approval

The Restaurant Group gets wagamama approval

The Restaurant Group (TRG) has been given the go ahead to acquire the entire issued share capital of Mabel Topco Limited, which owns wagamama, by its shareholders after a general meeting held on Wednesday 28 November.

Shareholders voted 60.43% for the acquisition of wagamama, compared to 39.57% against.

They have also agreed on the allotment of shares in TRG of up to 290,430,689 new ordinary shares at a price of 108.5p each, as set out in the rights issue. There were 60.06% votes for, and 39.94% against.

At the voting record time, TRG has 201,067,400 ordinary shares in issue, none of which were held in treasury. The total number of voting rights in the company was therefore 201,067,400.

“We have engaged extensively with investors throughout this transaction and very much appreciate the time all have given,” comments The Restaurant Group chairman Debbie Hewitt MBE. “We are pleased that the majority of our shareholders have approved the acquisition and the associated rights issue, and we would like to thank them for the support they have shown. We are confident that the deal will create significant long-term value.

“The acquisition of Wagamama creates a raft of new opportunities for us to capitalise on in the months and years ahead. We look forward to welcoming the Wagamama team into the business post-completion and thank them alongside all of our Restaurant Group colleagues for keeping focused on delivering for our customers.”