GUSBOURNE PLC

Report Publication Announcement • Sep 5, 2018

National Storage Mechanism | Additional information

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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 £3 million and £5 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 £3.7 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 £2.7 million representing 4,504,510 New Shares, of which £1 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 of New Shares subscribed at 60p	Number of New Warrants subscribed	Value of New Shares subscribed (£)	Total interest in ordinary shares in the Company following Admission*
Paul Bentham	Non-Executive Director	83,334	83,334	£50,000.40	938,370
Ian Robinson	Non-Executive Director	41,667	41,667	£25,000.20	481,086
James Arbuthnot	Non-Executive Director	25,000	25,000	£15,000.00	81,360
Matthew Clapp	Non-Executive Director	16,667	16,667	£10,000.20	73,027
Mike Paul	Non-Executive Deputy Chairman	83,334	83,334	£50,000.40	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

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