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Coffeeheaven to raise new cash for store development programme

Tuesday, May 27, 2008

Coffeeheaven, the AIM-listed coffee bar business based in central Europe, is aiming to raise around £3.5 million before expenses through a share placing. The new cash will be used to fund the company’s store development programme.

The move will see Shore Capital Stockbrokers place 11.5m new shares of 1p each at a price of 30.5p per share, principally with institutional investors.

Coffeeheave said it aimed to maintain a rate of new store openings similar to that of previous years but with greater focus on major markets. In the 12 months to March 2008 the group opened 24 new stores, taking it to 85 stores trading in six markets.






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