DELIVEROO ANNOUNCES £50M COMMUNITIES FUND

DELIVEROO ANNOUNCES £50M COMMUNITIES FUND

HEADER: The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into Canada, Japan or the United States. This announcement is not a prospectus and not an offer of shares for sale in any jurisdiction, including in or into Australia, Canada, Japan or the United States.

  • Company pledges to supporting local communities, restaurant partners and riders with new fund as part of a potential future listing
  • Fund will support restaurant partners to re-open for dine-in post-pandemic
  • Example projects for communities and riders include delivering free meals to disadvantaged families and discounting e-vehicles
  • Ongoing commitment represents the importance of each group to the company's future

Deliveroo [today] announces a new Communities Fund to support local communities in which the company operates, restaurant partners and Deliveroo riders. The Fund will be put in place after any potential future IPO.

The investment is pledged over five years and is in recognition of how important customers, riders and restaurants have been to the company's growth to date, and how important they will continue to be as Deliveroo aims to become the definitive online food company.

The £50m fund will specifically support projects in the following areas:

  • Restaurant partners. Projects to support restaurant partners as they reopen for dine-in services later in the year. Specific projects would be based on consultation with partners themselves to ensure investment is targeted at their priorities. Examples of support could include grants to fund new initiatives such as helping restaurants with the practical costs of re-opening, whether that be new outdoor seating areas or maximising indoor dining spaces, and investing in marketing support to help restaurants increase sales when dine-in is permitted.
  • Communities. Projects to support disadvantaged or vulnerable groups, including delivering meals to those who would otherwise go without, working with a national network of restaurants and local charities to deliver meals for free. This will also cover delivering free meals to frontline public sector workers, building on the work Deliveroo has done to support the NHS throughout the pandemic by delivering over 800,000 free meals to doctors and nurses. Deliveroo will also look at how the Fund can support sustainability initiatives.
  • Riders. Projects to reward the riders who contribute the most to the company. This will be based on consultation with riders about what matters most to them, but examples include investing in new electric bicycles and new electric motorcycles to make it more affordable for riders to access new e-vehicles.

CEO and founder of Deliveroo, Will Shu, said: "Customers, restaurants and riders are at the heart of their local communities. And that's what we care about too. Being recognisable in the community isn't enough. Being part of local communities is what matters. That's why we are making this announcement today. We want to support the initiatives that matter most to our riders, restaurants and riders."

FOOTER: This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This announcement is not an offer of securities for sale into the United States.   This announcement and the information contained herein is for information purposes only and does not contain or constitute or form part of, and should not be construed as, an offer or invitation to sell, or the solicitation of an offer to buy or subscribe for, securities.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. 

This announcement may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target", "believe", "expect", "aim", "intend", "may", "anticipate", "estimate", "plan", "project", "will", "can have", "likely", "should", "would", "could" and any other words and terms of similar meaning or the negative thereof. These forward-looking statements are subject to risks, uncertainties and assumptions about Dalton Ltd (the "Company") and its subsidiaries and its investments (together, the "Group"), including, among other things, the development of its business, trends in its operating environment, and future capital expenditures and acquisitions. The forward-looking statements in this announcement speak only as at the date of this announcement. These statements reflect the beliefs of the Directors, (including based on their expectations arising from pursuit of the Group's strategy) as well as assumptions made by the Directors and information currently available to the Company.

Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate and neither the Company nor any member of the Group, nor any of such person's affiliates or their respective directors, officers, employees, agents and/or advisors, nor any other person(s) accepts any responsibility for the accuracy or fairness of the opinions expressed in this announcement or the underlying assumptions. Actual events or conditions are unlikely to be consistent with, and may differ significantly from, those assumed. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur. No representation or warranty is made that any forward-looking statement will come to pass. No one undertakes to update, supplement, amend or revise any forward-looking statements. You are therefore cautioned not to place any undue reliance on forward-looking statements.

The Company may decide not to go ahead with any listing and there is no guarantee that shares in the Company will be admitted to trading on any venue.

Nothing in this announcement shall constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to acquire, whether by subscription or purchase, any shares or any other securities in the Company or a member of its Group, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.

Nothing contained herein constitutes or should be construed as investment, tax, financial, accounting or legal advice.

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