HRC WORLD PLC
NASDAQ FIRST NORTH, COPENHAGEN
TICKER: HRC
ISIN: GB00BZ3CDY20
6 March 2019
Business Collaboration and Potential Acquisition
The Board of Directors of HRC World Plc (HRC), a company that provides strategic restaurant management services for restaurant chains across Asia, is pleased to announce that it has today entered into a discussion with PT. Menara Sumberdaya Indonesia (MSI) to jointly develop a chain of Javanese traditional home-style cafés in Asia and Europe.
Java has a long history of cultural, business and political relationship with the European communities, especially the Dutch and English. Its rich culinary heritage derives from the few hundred years of Western colonisation coupled with older Asian culture, creating a variety fusion dishes. MSI plans to introduce these Javanese-Dutch fusion food to the world through the development of franchised café concept with the expertise provided by HRC. It was estimated that the business expansion exercise by MSI may cost approximately €50mil. As usual, HRC is keen to provide restaurant management services especially in driving tourists to these outlets, implement international marketing initiatives as well as develop music related components in these cafés.
MSI is an Indonesian dairy products processing company that specialises in formulating and blending dairy and other non-dairy based products for onward food processing industry. Subject to due diligence and acceptable legal structure, HRC is also considering the possibility of acquiring part of MSI or even making it a wholly-owned subsidiary.
The Directors anticipate being in a position to provide a further update to the Market in approximately 8 weeks from now.
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 (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
Certified Adviser
Keswick Global AG
info@keswickglobal.com
+43 1 740 408045