WhereDaily News: Chanticleer Holdings Executes Stock Purchase Agreement for Nottingham, England Hooters Location
CHARLOTTE, NC--(Marketwired - October 24, 2013) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) ("Chanticleer Holdings" or "the Company"), a franchisee of international Hooters® restaurants and a minority owner in the privately held parent company of the Hooters® brand, Hooters of America, has executed the Stock Purchase Agreement for the purchase of 100% of the shares of West End Wings Limited ("WEW"), a company wholly owned by Manchester Wings Limited (the "Seller"), for a total purchase price of three million one hundred fifty thousand dollars ($3,150,000). WEW wholly owns the Nottingham, England Hooters restaurant location operations. As part of this transaction, all leasehold and franchise rights to the location will be transferred to the Company. Final closing and execution of all remaining documents is set for November 5, 2013. Nottingham is Chanticleer's second European and seventh international Hooters® location. The execution of the Agreement was pursuant to the Binding Letter of Intent signed August 2, 2013.
