Completion of share consolidation

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PUNCH TAVERNS PLC

("Punch")

Completion of share consolidation

Punch announces that the consolidation of its ordinary shares, as described in the combined circular and prospectus dated 18 August 2014, has become effective.

As a result of the share consolidation, Punch's existing ordinary shares have been consolidated into consolidated ordinary shares on the basis of 1 consolidated ordinary share for every 20 existing ordinary shares. Admission of the consolidated ordinary shares to the Premium Listing segment of the Official List of the UK Listing Authority and the admission of the consolidated ordinary shares to trading on the London Stock Exchange's main market for listed securities became effective, and dealings commenced, at 8:00 a.m. today ("Admission"). The ISIN for the consolidated ordinary shares is GB00BPXRVT80.

Punch confirms that, following Admission, its issued and listed share capital consists of 221,850,171 ordinary shares with a nominal value of 0.9572p each, with voting rights, of which none is held in treasury. Therefore, the total number of voting rights in Punch will be 221,850,171. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Punch under the FCA's Disclosure and Transparency Rules.

13 October 2014

Disclaimer

This announcement is not intended to and does not constitute or form part of any offer to sell or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the proposals set out herein or otherwise, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor or be considered a recommendation that any investor should subscribe for or purchase or invest in any securities.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 as amended (the "Securities Act") or under any U.S. state securities laws and may not be offered or sold within the United States unless any such securities are registered under the Securities Act or an exemption from the registration requirements of the Securities Act and any applicable state laws is available.