PNB Pubs'n'bars

RNS Number:1421U
Pubs 'n' Bars PLC
30 March 2007


                               Pubs 'n' Bars Plc

                       ('Pubs 'n' Bars' or 'the Company')

                     Acquisition of Moorgate London Limited


Pubs 'n' Bars Plc (the "Company"), the pub owner and operator, announces that it
has exchanged contracts to acquire Moorgate London Limited for a total
consideration of #6,639,500, including the assumption of #4.3 million of bank
indebtedness.

The consideration will be satisfied by the issue of 5,440,698 new ordinary
shares priced at 43 pence per share. Of these shares, 1,511,628 new ordinary
shares have been placed with institutional and other investors by Daniel
Stewart, the Company's nominated adviser and broker, at a price of 43 pence per
share on behalf of the vendors. The vendors have agreed to retain the balance of
3,929,070 new ordinary shares (representing 12.37% of the increased ordinary
share capital) for at least twelve months from completion. In addition 813,953
new ordinary shares have been placed at a price of 43 pence per share to cover
the expenses of the transaction.

Moorgate London Limited has an estate of seven freehold public houses within
Hertfordshire and Oxfordshire. All of these public houses are leased to
individual operators and have tied contracts for beer supply. The acquisition
adds approximately #7 million of fixed assets to the balance sheet and is
expected to generate additional net revenues of approximately #400,000 per annum
before interest charges.

Following the transaction the enlarged Pubs 'n' Bars estate will consist of:

Freehold               37
Virtual Freeholds*      6
Leaseholds             30
Total Estate           73


* Local authority long leases


Completion of the acquisition and admission of the new ordinary shares to
trading on AIM, are expected to be on 05 April 2007.


Enquiries to:

Pubs 'n' Bars Plc
Mel Belligero, Chief Executive      Tel +44 (0) 20 8228 4800

Daniel Stewart & Company            Tel +44 (0) 20 7776 6550
Lindsay Mair/Katie Shelton



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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