March 20, 2020 / 8:14 AM / 9 days ago

BRIEF-Hotel Chocolat Says Trading Slowed Due to Virus; To Raise £20 Mln Via Placement

March 20 (Reuters) - Hotel Chocolat Group PLC:

* COVID-19 UPDATE AND PLACING TO RAISE £20 MILLION

* TRADING BOTH IN UK AND IN COMPANY’S INTERNATIONAL MARKETS OF USA AND JAPAN HAD BEEN ENCOURAGING UP TO END OF FEBRUARY

* TRADING IN MARCH-TO-DATE HAS INEVITABLY SLOWED AS OUTBREAK OF COVID-19 HAS IMPACTED FOOTFALL BOTH IN UK AND INTERNATIONALLY

* UNDERTAKING A PLACING TO RAISE £20 MILLION THROUGH ISSUE OF 8.9 MILLION NEW SHARES OF 0.1 PENCE EAC AT A PRICE OF 225 PENCE PER SHARE

* GROUP REVENUE HAVING INCREASED BY 6% YEAR-ON-YEAR IN FEBRUARY

* GROUP REVENUE INCREASED BY 6% YEAR-ON-YEAR IN FEBRUARY

* ANTICIPATES ONGOING EFFECT OF COVID-19 LIKELY TO RESULT IN SOME OR ALL OF COMPANY’S STORES BEING CLOSED FOR A PERIOD

* GROUP RETAIL REVENUE HAVING DECREASED BY 5% YEAR-ON-YEAR IN MARCH-TO-DATE Source text for Eikon: Further company coverage:

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