1st Apr 2014 12:17
LONDON (Alliance News) - UK bar operator Eclectic Bar Group PLC said Tuesday that Chairman Jim Fallon, one of the sellers of the Lowlander bar and brasserie in Covent Garden that Eclectic bought recently, is to receive a tranche of consideration for the deal of GBP100,000 in Eclectic shares.
It said that the tranche will be satisfied by issuing Fallon with 60,241 new shares at a price of GBP1.66 a share.
Fallon will then be interested in a total of 422,116 shares in the company, representing roughly a 3.3% stake.
Shares in Eclectic Bar were up 1.1% at 170.92 pence Tuesday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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