Yes Dining is an established contract catering company with 230 employees and contracts with local authorities in London, the South East and the South West of England, as well as clients in other market sectors.

In the year ended 31 March, Yes Dining had turnover of £6.3m and made a gross profit of £686,000.

Bright Futures said the initial consideration of £197,700 for the acquisition had been satisfied by the issue of 98,851,462 new ordinary shares - 26.3% of the company's enlarged issued share capital - to the vendor, Castle View International Holdings.

An additional consideration of up to £40,000 may be payable dependent upon the achievement of certain gross profit targets by Yes Dining in the next 12 months.

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