7th April 2022 CGF
Auckland-headquartered international coffee chain franchise Cooks Coffee Company intends to exercise the power of sale of shares, following a significant repositioning which included a name change, $5.5m capital raise and share consolidation.
Auckland-headquartered international coffee chain Cooks Global Foods plans to consolidate its shares, as well as change its name.
Auckland-headquartered international coffee chain Cooks Global Foods has issued 80,989,340 new shares at 3 cents each totalling $2.43m following a shortfall from its rights issue last year.
Cooks Global Foods says sales at its UK-based cafe franchises recovered from Covid-19 ahead of the wider UK coffee market in 2021.
NZX-listed international coffee chain Cooks Global Foods has set a price of 3 cents a share for a rights issue, which is targeting $8m to restructure its balance sheet.
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Burger Fuel signals a holding pattern while UK-heavy CGF rides the first wave of the global recovery.
Coffee chain franchise company Cooks Global Foods Limited is working towards releasing its annual report to market on Friday 30 July.
As lockdown restrictions ease across the globe, the Ticker talks to NZX-listed Cooks Global Foods about the relaunch of its expansion plans.
Master franchiser and food distributor Cooks Global Foods was pushed further into the red in the year to 31 March posting a net loss of $2.8m – up from $0.2m last year – as Covid took its toll on international operations.
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