Result of Meeting

RNS Number : 8047O

Blavod Wines and Spirits PLC

16 October 2012

 

Blavod Wines and Spirits PLC
("Blavod" or the "Company")

16 October 2012

Result of General Meeting

Blavod Wines and Spirits PLC (AIM:BES), the AIM-quoted owner of premium drinks brands including Blavod Black Vodka, Blackwoods Gin and RedLeg Rum, announces that at the general meeting of the Company held earlier today, all resolutions were duly passed.

As a result, the Company will proceed with the Capital Reorganisation, the Placing of 160,000,000 New Ordinary Shares at a price of 0.75 pence per share and the conversion of £400,000 of debt (together with accrued, unpaid interest totalling £37,580) owed under the Loan Note Instrument, into 58,344,000 New Ordinary Shares. Both the Placing and the Debt Conversion are conditional on Admission. Upon Admission, the proceeds available to the Company pursuant to the Placing, net of commission and expenses, will be £1.1 million.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM which is expected to take place on 19 October 2012.

Following Admission the total issued ordinary share capital of the Company will be 306,102,508 Ordinary Shares, all of which have voting rights.

Following the Capital Reorganisation, the Company will have 87,758,508 Deferred Shares in issue. No application will be made to the London Stock Exchange for the Deferred Shares to be admitted to trading on AIM or any other stock exchange. The Deferred Shares do not carry any voting rights.

Other than where stated, capitalised terms used in this notice shall have the same meaning as ascribed to them in the circular to Shareholders dated 28 September 2012.

Director Shareholdings

Following the Placing and Debt Conversion:

·      Don Goulding, executive chairman of the Company, will be interested in 10,000,000 Ordinary Shares, representing 3.27% of the issued share capital of the Company.

·      Mark Quinn, a non-executive director of the Company, will be interested in 3,500,000 Ordinary Shares, representing 1.14% of the issued share capital of the Company.

Substantial Shareholders

Following the Placing and Debt Conversion:

·      Howard Raymond will be interested in 47,383,333 Ordinary Shares, representing 15.48% of the issued share capital of the Company.

·      Peter Webb will be interested in 38,556,533 Ordinary Shares, representing 12.60% of the issued share capital of the Company.

Don Goulding, Executive Chairman of the Company, commented: "We are delighted to have raised these funds from investors which will allow us to drive forward the growth of the company through investment into our existing brands as well as the development of new ones. It will also allow us to focus on increasing the level of export sales and establishing our brands in new markets around the world where we believe there is significant potential".

For further information please contact:

Blavod Wines and Spirits plc
Don Goulding - Executive Chairman	Tel: [phone]
N+1 Brewin (NOMAD & Joint Broker)
Robert Beenstock Richard Lindley	Tel: [phone] Tel: [phone]
Simple Investments (Joint Broker)
Nick Emerson Renato Rufus	Tel: [phone]
Cadogan PR
Alex Walters	Tel: [phone]

About Blavod

Blavod Wines & Spirits plc is quoted on the AIM market of the London Stock Exchange. It owns drinks brands in a number of sectors of the alcoholic drinks market. These include premium Vodka, premium Gin and Rum and are called Blavod Original Black Vodka, Blackwood's Vintage Gin & Nordic Vodka, Diva Vodka, Jago's Cream liqueur and RedLeg.

The Group markets and sells these brands in the UK as well as a number of international markets including the US and Russia and has recently announced an agreement with Waldemar Behn GmbH for them to produce, market and distribute Blavod black vodka in Germany under a licensing agreement to their domestic and Duty-Free/Travel Retail markets as well as continental and Eastern Europe.

Through a wholly owned subsidiary Blavod Drinks Ltd, the Company represents a portfolio of premium quality spirit and liqueur brands in the UK which include Bruichladdich Islay Malt Whisky, Mickey Finn Schnapps, Fernet Branca, Punt e Mes, Antica, Formula, Hapsburg Absinthe, Hpnotiq and Pama Liqueurs.

www.blavoddrinks.com

 

END

 

 

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