Hotel Chocolat to float with £167m market capitalisation: Hotel Chocolat Group, the British chocolatier and omni-channel retailer, is to float on AIM with a market capitalisation of £167m. It has placed 8,108,108 new and 29,398,471 existing ordinary shares of 0.1p each at 148 pence per share with institutional and other investors to raise gross proceeds of approximately £55.5 million. Liberum Capital Limited is acting as nominated adviser and sole broker to the Company in relation to the Placing. Angus Thirlwell, co-founder and chief executive of Hotel Chocolat, said: “Today is a significant moment in the development of Hotel Chocolat and we are delighted to have received such strong demand from investors. We have clear plans to invest further in our British chocolate manufacturing operations, in new stores and in our digital offering. We welcome our new shareholders and look forward with confidence to the next phase of our growth and development as a listed company. Revenues and Ebitda relating to continuing operations for the year ended 28 June 2015 were £82.6 million and £8.1 million respectively. H1 FY16 has shown revenue growth of 14% against the prior year with Ebitda growth of 41% and a profit after taxation increase of £3m with revenue growing faster than overheads during the period. Current trading throughout the recent spring period including Easter has been in line with the Board’s expectations.”

Starbucks warns shareholders not to be tempted by below market price share offer: Starbucks has told shareholders not to be tempted by an unsolicited “mini-tender” offer by TRC Capital to purchase up to two million shares of Starbucks common stock at a price of $54.38 per share in cash. The company stated: “The offering price is 4.43% below the closing price per share of Starbucks common stock on April 27, 2016, the last trading day prior to the commencement of the offer. The offer is for approximately 0.14% of the outstanding shares of Starbucks common stock. Starbucks does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares. Starbucks is not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation. Mini-tender offers are not subject to many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the Securities and Exchange Commission (SEC) and other procedures mandated by US securities laws. The SEC has cautioned investors that some bidders making mini-tender offers at below-market prices are “…hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.” More on the SEC’s guidance to investors on mini-tender offers is available at www.sec.gov/investor/pubs/minitend.htm. TRC Capital has made many similar unsolicited mini-tender offers for shares of other public companies. Shareholders should obtain current market quotations for their shares, consult with their broker or financial advisor, and exercise caution with respect to TRC Capital’s mini-tender offer. Starbucks recommends that shareholders who have not responded to TRC Capital’s offer take no action.”

The Barbary to open in Seven Dials: West End property landlord Shaftesbury has announced that The Barbary, the second restaurant concept from the founders of The Palomar in Soho, is to open in Seven Dials. The Barbary has taken a 1,276 sq ft site in 16 Neal’s Yard and is due to open this June. The restaurant takes inspiration from the Barbary Coast and will have a focus on grilling and baking, from Moorish Spain, to the tip of Morocco and along the Barbary Coast to Jerusalem. The new site is located adjacent to other recently opened concepts in Neal’s Yard, including SaladPride, Native and 26 Grains. Julia Wilkinson, portfolio and group restaurant strategy executive at Shaftesbury, said: “The Barbary is a great addition and will further diversify the dining offer in Neal’s Yard. Our active management of the yard over the past 18 months has delivered some standout dining concepts. Keeping the line-up fresh with such strong operators is essential and makes Seven Dials a unique location, attractive to both new restaurant concepts and international retail brands alike.” Layo Paskin, co-owner of The Barbary, added: “We wanted a central London location, with a strong history but also an intimate atmosphere to launch our new restaurant. Seven Dials provided all of this, and Neal’s Yard especially as it is a magical part of London. We look forward to bringing The Barbary to Seven Dials this summer.” This latest news coincides with a new pure leisure and fitness concept launch, Another_Space, which complements the Seven Dials retail and dining offer as a whole.