Cooks Coffee Company Limited logo

Admission to Trading on Aquis Stock Exchange

Listing Change2 November 2022CCCConsumer Staples

2 November 2022
Cooks Coffee Company Limited

("Cooks Coffee", the "Company" or the “Group”)

Admission to Trading on the Aquis Stock Exchange


Cooks Coffee Company (NZX:CCC), the international coffee focused café chain, has completed its dual

listing on the Access Segment of the Aquis Stock Exchange (“AQSE”) Growth Market and trading will

commence at 8.00 a.m. Wednesday 2 November 2022. The ordinary shares will trade on AQSE under

the ticker “COOK” and ISIN: NZCFGE0001S7.

At admission, Cooks Coffee will have 53,488,307 ordinary shares of no par value trading on the Access

Segment of the AQSE Growth Market.

The Company will be classified as a Consumer Discretionary company on AQSE.

VSA Capital is acting as the Company’s Aquis Corporate Adviser and Broker.

Keith Jackson, Executive Chairman of Cooks Coffee commented: “We are delighted to have achieved

our dual listing to support the continued expansion of the Group as it builds a business of ethical coffee

brands with community spirit.

“Our Esquires and Triple Two brands continue to perform well and I am delighted with our consistent

outperformance of the market, thanks to the efforts of our staff, franchisees and their teams.

“We have a strong pipeline of new stores and are on track to open a net 18 sites this financial year

showing a net 21% gain in store numbers for the financial year in the UK and Ireland. The new outlets

include innovative offerings reflecting the local environment, including where appropriate an alcohol

offering which gives the Company the opportunity to establish a unique market position between a

café and restaurant, whilst retaining the essence of the café culture. The addition of mobile vans in

October has also opened a new and exciting area of the market for the Company.

“As our strong sales performance and new store pipeline demonstrates, neither the uncertainty in

respect of the wider UK and Irish economies nor consumer attitudes towards discretionary spending

have to date impacted our sales. We continue to benefit from people staying local, working from

home, and supporting their community, which are trends that we believe are permanent.

“In recent weeks despite the turmoil in the markets and the political uncertainties we have seen

record sales for our long-established Esquires brand in the UK which gives us confidence about the

brands, the consumer offering and the position and will assist the drive to build the position as the

fourth largest coffee focussed café chain in the UK.

“We are operating in an inflationary environment and are working hard to mitigate the cost pressures

for our franchisees and customers. We continue to take confidence from the positioning of both our

Esquires and Triple Two brands and their market-leading track records. We look forward to providing

updates on our continued progress in the months ahead.”



Cooks Coffee

Cooks Coffee is the fourth largest coffee focused café chain in the UK (behind Starbucks, Costa and

Caffè Nero), building a family of brands serving coffee, a full range of complementary beverages and

an extensive range of food.

The Group operates under two brands: Esquires, The Organic Coffee Company, and Triple Two Coffee.

Esquires was founded nearly 30 years ago and Cooks Coffee acquired the global rights (excluding

Australia and New Zealand), focusing on operations in the UK and Ireland in 2013. Triple Two Coffee

was acquired in June 2020 and has an offering that is complementary to Esquires. Triple Two was

founded in 2016 and it is currently one of the fastest growing coffee focused cafe brands in the UK.

In total, Cooks Coffee had 111 outlets in the UK, Ireland and across its international markets as at the

end of September 2022.

Details of the Company’s directors are contained in the appendix below and additional information

on the Company can be found on its website: https://cookscoffeecompany.com/.

Admission to AQSE

The Company, which is currently listed on the NZX in New Zealand, will, from today, have a dual listing

on AQSE with its ordinary shares fully fungible through a Depositary Interest (“DI”) and held in CREST.

The DIs will carry the same ISIN as the ordinary shares listed in New Zealand. The Company’s ordinary

shares will continue to trade on the NZX.

On 10 October 2022 Cooks Coffee announced it planned to raise up to £1.5 million through a rights

issue and private placement. Cooks has raised approximately £0.5 million from the rights issue and

private placement, including subscriptions from certain of the Company’s directors. The capital raised

will be used by the Company to expand its digital marketing capability, accelerate the opening of new

stores, and to potentially acquire dynamic new brands that provide synergies with Cooks Coffee’s

existing Esquires and Triple Two outlets.

Director Dealings

As part of the rights issue and private placement, certain of the Company’s directors have participated

and their respective participation is highlighted in the table below:

Relevant interests

associated with:

Shares issued pursuant

to the rights issue and

private placement

Number of relevant interests in

Ordinary Shares held on

Admission

Percentage held

Keith Jackson

1

1,388,889 10,697,049

2

19.999%

Michael Ambrose


216,667 750,000 1.402%

Mike Hutcheson - 93,878 0.176%

Paul Elliot - 226,296 0.423%

Peihuan Wang - 10,591,374 19.801%

1

Keith Jackson’s participation is made up of 1,388,889 Ordinary Shares as a result of his participation in the rights issue as well as the

conversion of a loan to the Company of NZ$500,000 at the fundraising price of NZ$0.36 amounting to 1,388,889 Ordinary Shares.



2

In addition, Keith Jackson and his associates hold a relevant interest in 2,369,000 unquoted non-voting shares (which may be reclassified

as quoted ordinary shares by written notice to the Company).

This announcement, together with the documents incorporated by reference above, shall be deemed

to constitute an admission document for the purposes of the AQSE Growth Market Rules for Issuers.

It has not been approved or reviewed by the Aquis Stock Exchange or the Financial Conduct Authority.


Enquiries:

Cooks Coffee Company Limited +64 21 702 509 (New Zealand)

Keith Jackson (Executive Chairman) +44 (0) 20 3814 5627 (UK)


ukinvestorrelations@cookscoffeecompany.com


VSA Capital Limited (Aquis Corporate Adviser &

Broker)

+44 (0) 20 3005 5000

Andrew Raca, Simba Khatai, Pascal Wiese (Corporate

Finance)


David Scriven, Peter Mattsson (Corporate Broking)



IFC Advisory Limited (Financial PR & IR) +44 (0) 20 3934 6630

Tim Metcalfe, Graham Herring, Florence Chandler


cookscoffee@investor-focus.co.uk

Appendix

The Company currently has five directors.

Keith Jackson – Executive Chairman

Keith has an extensive background in management and governance with particular emphasis on the

food and dairy industries.

He was CEO of New Zealand’s largest chicken company, Tegel Foods for 16 years from 1980 to 1996,

Deputy Chairman of Ernest Adams, a producer of quality foodstuffs and Managing Director of

Independent Dairy Producers, a fresh milk company.

Together with two others Keith formed Dairy Farm Investments, a company that operates equity

partnerships in dairy farms in New Zealand. Keith established Dairyland Products which was sold to a

Danish company in 2017.

Keith founded Cooks Coffee in 2008 via a merger of four companies and the company acquired the

global rights to the Esquires Coffee (except NZ & Australia) brand in 2013.

Keith has a Bachelor of Commerce from Otago University.

Mike Hutcheson – Independent Director

Mike co-founded leading advertising agencies Colenso BBDO and Hutcheson Knowles Marinkovich

(HKM) and culminated his advertising career as Managing Director of Saatchi and Saatchi. Mike was



also a director of a family building company and in the early ‘80s set up Replica Homes with franchises

throughout New Zealand. In 2003 Mike launched The Lighthouse Ideas Company and in 2008 he and

his partners undertook a management buyout of the Image Centre Group, publishers, printers and

digital online communications specialists. Mike has written four books, and has been a regular

television guest and commentator. He currently writes an innovation column for Idealog magazine,

one of the magazines in his company’s portfolio. In 2012 he was named Business Columnist of the

Year in the Magazine Publisher’s Awards.

Michael Ambrose – Director

Michael is an experienced Company Director, business consultant & Chartered Accountant with a

broad range of governance, financial, general management, strategic & IPO skills. Michael was the

creator & founding Director of Arvida Group Ltd. This Public Company was listed in 2014 and is

comprised of 32 Retirement Villages and Aged Care facilities. He is also the Chairman and independent

Director of Manchester Unity Friendly Society and a Director of Fiordland Lobster Company & related

Companies amongst holding other positions.

Paul Elliott – Independent Director

Paul Elliott has extensive experience as CEO and CFO of major New Zealand corporates, including

Metlifecare, Zespri, Pacific Retail Group and, more recently, Asset Finance Limited, a regional non-

bank deposit taker. He has served as a director of both publicly-listed and privately held companies

and is a chartered member of the New Zealand Institute of Directors.

For the past nine years he has been a partner in a boutique corporate finance business, Time Capital

NZ. During that time, he has acted as advisor in a number of business acquisitions and turnaround

assignments and has managed due diligence projects on behalf of several mergers. He continues to

provide advisory services to New Zealand corporates and several high-net-worth individuals as a

partner in Time Capital.

Peihuan Wang – Director

Peihuan Wang is currently the Chairman and General Manager of Shandong Jiajiayue Investment

Holdings Co. Limited (“JJY”) and Vice President of the China Chain Store and Franchise Association.

Mr Wang also currently sits on the board of New Zealand company Weihai Station Limited, which runs

farming operations and was granted consent from the overseas investment office to buy 595 hectares

of land situated southwest of Auckland.

Mr Wang has been the recipient of a number of awards in China including ‘the National Quality

Excellent Manager’, ‘Person of the Year - Chinese Chain Industry’, ‘Person of the Year - Chinese Retail

Industry’, and ‘Weihai City Mayor’s Quality Award’.

Mr Wang is of Chinese nationality and resides in the Shandong Province. He brings a wealth of

knowledge to the Board. JJY operates more than 800 supermarkets in China and employs more than

30,000 staff.

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.