Savor closes fully underwritten $3.25 million capital raise

Savor Limited (NZX: SVR) ("Savor" or with its subsidiaries "the Group"), New Zealand's premier hospitality group, is pleased to announce that it has successfully completed its fully underwritten capital raise to shareholders. The rights issue resulted in 3,793,561 shares being taken up by shareholders, totalling $1.6 million, and 3,889,653 shares subscribed for by underwriters, to raise a total of $3.25 million. Following receipt of the funds from the capital raise, Savor will apply the proceeds to pay down all floating rate liabilities by the end of March 2023. Savor expects that the new shares will be allotted, and statements sent out to shareholders, on 28 February 2023. -ENDS- Investor Enquiries Tim Peat CFO, Savor Mobile: 021 049 7442 Email: tim@savor.co.nz About Savor Savor, established in 2011, is one of New Zealand's largest hospitality businesses with 18 iconic venues in Auckland, including Amano, Azabu Ponsonby, Azabu Mission Bay, Ebisu and Non Solo Pizza, each with its own unique concept, culture and offering. In 2022, Savor opened Bivacco in Auckland's Viaduct Harbour and brought iconic Melbourne concept MoVida to Britomart's Seafarers Building. Savor has a reputation for originality, the quality of its products and the high standard of service that is consistent across the company portfolio. End CA:00407455 For:SVR Type:SECISSUE Time:2023-02-28 08:52:37