Prezzo raises £9m to fund restaurant growth

11 June 2004
Prezzo raises £9m to fund restaurant growth

Rapidly growing restaurant group Prezzo has raised a further £9.3m to fund its expansion by placing 7.75 million new shares with existing shareholders.

The AIM-listed company said it would use the money to continue expansion of its restaurant chains.

Already this year Prezzo has opened 11 restaurants, bringing its total to 36.

Directors of Prezzo who have subscribed to the new shares include Jonathan Kaye and Michael Carlton.

Phillip Kaye, a consultant to Prezzo, took 3.3m of the shares through the placing and now owns just over half of the company.

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