TMR Capital (PTC) Limited (“TMR”) notes the Restaurant Group Limited (the “Company”) announcement of October 12, 2023, and the sale of the Company at 65 p/share subject to any approvals required, including shareholder approval.

TMR believes the sale figure significantly undervalues the Company. We believe, in our opinion, that, on a present value basis, the Company’s value exceeds 80 p/share. TMR believes the Company should sell the pub portfolio and all other non-core assets to pay down debt, reduce overhead costs significantly, and focus on Wagamama as outlined in our press release dated 27 July 2023.

About TMR

TMR is a BVI based family office with investment activities in both North America and Europe. TMR concentrates in equities, fixed income, real estate (including healthcare) and the hospitality sectors (food/beverage, hotels, leisure). It is in parallel a value-added investor focusing on companies which need restructuring and repositioning as well as providing specialist management and directors as required. More information about TMR is available at https://www.tmrcapitalptc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231015761717/en/

Enquiries: Derek Vago (dvago@tmrcapitalptc.com)

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