DP Poland PLC – Domino’s Pizza franchisor in Poland – enlarged share capital starts trading on AIM in London on Friday after completes reverse takeover of Dominium SA, a Polish pizza restaurant chain, from Malaccan Holdings Ltd.
The acquisition was paid for with DP Poland shares, a EUR 1.3 million unsecured loan note, and EUR 6.2 million in Dominium debt to Malaccan converted into another unsecured loan note. Malaccan will own 45% of the newly enlarged DP Poland.
Says combined company has double the number of stores and is one of the three largest pizza chains in Poland in terms of number of stores and restaurants.
Raises GBP3.5 million in a share placing, as it aims to become the market leader in Poland. Piotr Dzierzek joins the board on Friday as chief executive officer, together with two new non-executive directors, Przemyslaw Glebocki and Jakub Chechelski, while Gerry Ford and Chris Moore resign as non-executive directors. Dzierzek was president of the board of directors of Dominium.