Tasty PLC
FINPROM Findings
3“Will Roseff...390,000,000 Placing Shares...19.29%...David Page...70,000,000 Placing...45,000,000 Subscription...8,897,760 Consideration...5.42%...Nicholas Wong...110,000,000 Placing...20,000,000 Subscription...8,976,343 Consideration...6.08%”
Directors, proposed directors and substantial shareholders are subscribing for the vast majority of the fundraise. Will Roseff alone takes 390m of 1.85bn placing shares while maintaining ~19% control.
“Adam Kaye, Sam Kaye and Amberstar Limited (a company controlled by Phillip, Adam and Sam Kaye) are intending to participate for an aggregate amount of £500,000 through the Retail Offer”
Substantial shareholders channelling £500k through the retail offer rather than the institutional placing suggests the retail offer mechanism is being used to facilitate insider participation.
“it has raised £9.25 million (before expenses), in aggregate, via the placing of 1,699,400,000 new Ordinary Shares by way of the Placing and 150,600,000 new Ordinary Shares by way of the Subscription...at the Issue Price of 0.5 pence per new Ordinary Share”
Sub-penny issue price with 1.85 billion new shares against existing capital of ~198 million shares represents approximately 935% dilution of existing share capital. [Severity adjusted: discount alone insufficient for high severity without compounding factors.]
RNS Announcements
1Result of Placing and Subscription
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, HONG KONG OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERW…
LinkedIn Activity
2Advised Tungsten West plc on £43m fundraising. £3m raised via oversubscribed retail offer via RetailBook platform. Fantastic result, exciting for UK mining.
Law firm uses promotional language ('fantastic result', 'exciting') about a deal where issuer had only £0.4m cash
Tasty raises £9.25 million via a Placing and Subscription and a further £0.87 million via a Retail Offer. Perivan's shareholder communications team worked with Cavendish Capital Markets on documentation.
Perivan promoted the deal on LinkedIn as a case study. 1,850,000,000 new shares issued at 0.5p represent 935% dilution of existing equity. Retail offer via BookBuild raised £0.87m at same 0.5p price. No risk warnings about extreme dilution. Tasty PLC's own LinkedIn page (1,230 followers) shows no posts about the fundraise -- only restaurant/hospitality content.
Board of Directors
5| Name | Role | Appointed | Status |
|---|---|---|---|
| Daniel Jonathan Plaut | Director | 2006-05-23 | active |
| David Michael Page | Director | 2025-09-04 | active |
| Keith Lassman | Director | 2006-06-20 | active |
| Nicholas Chi Wai Wong | Director | 2025-09-04 | active |
| Wendy Jean Dixon | Director | 2022-06-22 | active |