Gusbourne PLC Result of Subscription (7718Z)
05 September 2018 - 4:00PM
UK Regulatory
TIDMGUS
RNS Number : 7718Z
Gusbourne PLC
05 September 2018
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
5 September 2018
Gusbourne Plc
("Gusbourne", the "Company" or the "Group")
Result of Subscription & Related Party Transaction
Further to its announcement released on 12 July 2018 regarding a
subscription to raise between GBP3 million and GBP5 million, by way
of an offer for subscription of new ordinary shares at a price of
60 pence per share (the "Subscription"), the Company announces that
it has received valid acceptances from investors totalling
approximately GBP3.7 million through the issue of 6,221,699 new
ordinary shares ("New Shares").
Furthermore, 6,221,699 Warrants will be issued on a 1 for 1
basis to subscribers of New Shares, at an exercise price of 60p,
further detail of which is set out in the previous
announcement.
The net proceeds from this fundraising will be used for capital
expenditure on the Company's existing vineyards until maturity,
additional winery and storage capacity and working capital,
particularly with regard to the Company's increasing wine
stocks.
Lord Ashcroft KCMG PC has subscribed for GBP2.7 million
representing 4,504,510 New Shares, of which GBP1 million will be
satisfied through the repayment of the shareholder loan, in full,
which was provided to the Company on 31 May 2018.
Certain directors of the Company have subscribed for New Shares
in the following amounts:
Number Number of Value of Total interest
of New New Warrants New Shares in ordinary
Shares subscribed subscribed shares in
subscribed (GBP) the Company
at 60p following
Admission*
Non-Executive
Paul Bentham Director 83,334 83,334 GBP50,000.40 938,370
Non-Executive
Ian Robinson Director 41,667 41,667 GBP25,000.20 481,086
Non-Executive
James Arbuthnot Director 25,000 25,000 GBP15,000.00 81,360
Matthew Non-Executive
Clapp Director 16,667 16,667 GBP10,000.20 73,027
Non-Executive
Mike Paul Deputy Chairman 83,334 83,334 GBP50,000.40 110,806
*Following issue of the New Shares only
Lord Ashcroft's participation in the Subscription constitutes a
related party transaction under Rule 13 of the AIM Rules as Lord
Ashcroft is a substantial shareholder in the Company.
The independent directors of the Company, being those who are
not participating in the Subscription, having consulted with Cenkos
Securities plc in its capacity as the Company's nominated adviser
for the purposes of the AIM Rules, consider the terms of the
transaction to be fair and reasonable insofar as the Company's
shareholders are concerned.
An application has been made for the 6,221,699 New Shares to be
admitted to trading on AIM. Admission is expected to occur on 11
September 2018. Following Admission, the Company will have
45,588,683 ordinary shares admitted to trading on AIM. Following
Admission, Lord Ashcroft's shareholding in the Company remains at
approximately 72.4% of the enlarged issued share capital, with a
total beneficial interest in 33,005,663 ordinary shares.
Unless otherwise defined, capitalised terms within this
announcement shall have the same definition as those within the
Company's announcement dated 12 July 2018.
Enquiries:
Gusbourne Plc
Charlie Holland +44 (0)1233 758 666
Cenkos Securities plc
Nicholas Wells / Callum Davidson +44 (0)20 7397 8920
Note: This announcement and other press releases are available
to view at the Company's website: www.gusbourneplc.com
This information is provided by RNS, the news service of the
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END
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