Hospitality group hails success of £3.8m investment roundFeb 09, 2021
THE OWNER of a chain of pubs and restaurants in Bedfordshire, Buckinghamshire and Northamptonshire is delighted with the take-up of an innovative offer to invest in the business.
Oakman Group is offering customers the chance to not only enjoy a drink once the current restrictions are lifted and pubs and restaurants can reopen but also to become a part-owner.
The company, whose establishments include The Betsy Wynne at Swanbourne, the Cherry Tree in Olney, The Navigation Inn at Cosgrove and The White Hart at Ampthill, has received almost 200 applications for more than £3.8 million worth of shares since it launched the scheme in December.
It hopes to have passed its £4.5 million target by the time the round closes on Tuesday next week (February 16).
Chief investment officer Steven Kenee said: “We are quietly confident that we will reach the £4.5m target we set for this round. I am also really pleased that we have welcomed nearly 200 new shareholders into the Oakman family. Their participation demonstrates the trust and affection our customers have for their local Oakman Inn.”
The group operates 28 sites in and around the South of England and West Midlands. It also has further venues in the pipeline to add to their estate.
There are different levels of investment available, starting at £950, which all offer ‘owner benefits’ such as dining discounts, the opportunity to attend product launches and advance details of new menus.
“We believe there is a huge unsatisfied demand for premium pubs right across the UK,” said chief executive Dermot King. “Large venues with a strong all-day food offering, a high level of facilities and, most importantly, great people running them is the future of the pub market. Our ambition is to play a big part in fulfilling that demand.
“We will open all our pubs on the very first day we are allowed and expect to trade very strongly.”
A link to the full details of the share offer can be found in the new investor portal https://investors.oakmaninns.co.uk/
Once interested investors have registered and made some declarations to ensure they understand the risks of investing and that the opportunity is suitable for them, they will be able to access both the investment materials and an application form.