HRC WORLD PLC

NASDAQ FIRST NORTH, COPENHAGEN
TICKER: HRC
ISIN: GB00BZ3CDY20

15 September 2020

HRC WORLD PLC BUYS INTO HAVANA DINING MALAYSIA

The Board of Directors of HRC World Plc (the Company), a company that provides strategic restaurant management services for restaurant chains across Asia, is pleased to announce that it has agreed acquire an equity stake in Havana Dining, a premium dining restaurant serving Cuban and international cuisine located in the heart of Kuala Lumpur.

Havana Dining is a franchised Cuban restaurant concept relating to the classical Havana-themed music restaurant, serving a combination of generally accepted and popular international dishes, Havana’s own signature fusion dishes as well as a combination of local cuisines. It offers a classic Cuban socialite dining experience with a well laid out dining space, live music, cigar bar and merchandise corner. The interior concept is interlaced with rich Cuban culture which captures Havana’s restless energy, spirit of independence and rebellion while providing a cosy, friendly and relaxing environment. The Company believes that value proposition of acquiring a stake in Havana Dining lies in its target market which is a unique niche between the very exclusive fine dining restaurant experience and the more casual American diners.

There is also an element of exclusivity with Havana Dining, in which only one franchise restaurant is allowed in each country by the franchisor, a UK company listed on the London Stock Exchange. Havana Dining Malaysia is franchised to Havana Café Sdn Bhd (HCSB) and is located at a short walking distance from several premium hotels like St. Regis, Hilton, Le Meridian, Aloft (W-Hotel) and the Ascott.

The Company has agreed to invest approximately €1.2mil in cash to acquire 5,867,500 Ordinary Shares in HCSB. This represents an equity stake of 40% in the capital of HCSB. Similar to the Company’s prior investments, this investment is made without any premium consideration. The cost of the investment will be met from the Company’s existing cash reserves. The acquisition will allow the Company to sign-up HCSB in its Restaurant Management services portfolio, which in return will provide a steady stream of monthly fee income to the Company.

THE DIRECTORS OF HRC WORLD PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT

About HRC World Plc
HRC World Plc is an England & Wales incorporated public company with registration number 10829936 and is quoted on Nasdaq First North Growth Market (Copenhagen). HRC World provides café management services for developing tourist-based and event-based revenues in member restaurants as well as implementation of HRC Music initiatives.

Further information may be found at the Company’s website: www.hrcplc.co.uk

Company contact details
HRC World Plc
+603 7786 0500
info@hrcplc.co.uk

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