GUSBOURNE PLC

Share Issue/Capital Change • Jun 16, 2015

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RNS Number : 2319Q

Gusbourne PLC

16 June 2015

Gusbourne Plc

(London-AIM: GUS) ("Gusbourne" or the "Company")

Result of Open Offer

Further to the Company's announcement on 28 May 2015 concerning an Open Offer to raise up to £3.57 million, Gusbourne announces that it has received final valid acceptances in respect of 5,050,738 Open Offer Shares from Qualifying Shareholders, representing approximately 70.7 per cent. of the maximum offered.  The total consideration was £2.53 million. Of this, gross cash proceeds receivable by the Company are £2.14 million and in addition, the Company has benefited from a £0.39 million reduction in debt due to director Andrew Weeber and his wife's acceptances of their full entitlement under the Open Offer by way of conversion of Bonds into Open Offer Shares, as described in the Circular.

Accordingly, an application has been made to AIM for the admission of 5,050,738 new Ordinary Shares to be issued pursuant to the Open Offer ("Admission"). It is expected that Admission will become effective on 17 June 2015. Following Admission, the Company will have 22,904,014 Ordinary Shares in issue ("Enlarged Issued Share Capital").

Shareholdings of the Directors and Lord Ashcroft KCMG PC

The participation of the Directors and Lord Ashcroft KCMG PC under the Open Offer and resultant interests following Admission are shown below:

	Existing Ordinary Shares	Open Offer Shares subscribed for at the Offer Price	Ordinary Shares held following Admission	Percentage of Enlarged Issued Share Capital
Lord Ashcroft KCMG PC	11,490,498	3,250,496	14,740,994	64.36
Andrew Weeber	1,944,444	777,777	2,722,221	11.89
Paul Bentham	610,740	244,296	855,036	3.73
Ian Robinson	81,442	32,577	114,019	0.50
Ben Walgate	60,000	30,000	90,000	0.39

Ben Walgate, CEO, commented:

"We are appreciative of the continued support from the significant number of Gusbourne Shareholders that have taken part in this Open Offer. The proceeds will assist in the further development of the Gusbourne business and the award winning Gusbourne brand."

Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 28 May 2015.

Enquiries:

Gusbourne Plc

Andrew Weeber/Ben Walgate                            +44 (0)12 3375 8666

Cenkos Securities plc

Nicholas Wells                                                    +44 (0)20 7397 8920

Note: This and other press releases are available at the Company's web site: www.gusbourneplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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