daVictus Shares Suspended As It Plans Restaurant Concept Rights Buy (ALLISS)

LONDON (Alliance News) - Shares in daVictus PLC were suspended from trading on Wednesday as the ...

Alliance News 20 February, 2019 | 11:31AM
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LONDON (Alliance News) - Shares in daVictus PLC were suspended from trading on Wednesday as the company agreed to acquire intellectual property rights in a restaurant concept owned by Typical Dutch NV.

daVictus was created to make acquisitions in the food & beverage sector. Typical Dutch is an Aruba-registered company that runs a small family-owned cafe and sells souvenirs to tourist.

Typical Dutch operates as a traditional Cuban-themed cafe in Aruba, in the southern Caribbean Sea. It has developed a comprehensive menu including owned recipes, a collection of Cuban/Havana graphics for a restaurant concept branded as HAVANA Rolled Cigar Music Cafe and an interior decoration concept.

Under the terms, daVictus will pay GBP100,000 for the acquisition of Typical Dutch's proprietary rights in respect of the mentioned cafe and branding.

Because of its size, the acquisition will constitute a reverse takeover, therefore, daVictus shares were temporarily suspended from trading.

"I am excited looking at the opportunity for daVictus to drive the internationalisation of HAVANA Rolled Cigar Music Café. It provides a low cost entry into the restaurant franchise business that comes complete with identifiable history, culture, art and music settings," Chief Executive Officer Robert Pincock said.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
daVictus PLC 11.00 GBX 0.00 -
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