Under the deal, Lastminute.com will issue 442,151 new shares at Friday's closing middle-market price of 31.5p. Urbanbite shareholders have agreed not to sell their Lastminute shares until 12 months after the transaction.
Urbanbite was set up in 1999 with investment from Agency.com and Dutch company Newconomy Ventures. Customers can order food online from more than 450 participating restaurants in the UK and 100 in the Netherlands. The company says it has 5,000 registered users.
www.urbanbite.com
www.lastminute.com