Company update and intention to cancel listing

East Imperial PLC

31 July 2024

 

31 July 2024

East Imperial plc

("East Imperial" or the "Company")

Appointment of liquidator to New Zealand subsidiary

Intention to appoint a liquidator and intention to cancel the Company's listing on the Equity Shares (Transition) category of the Official List

On 15 April 2024, East Imperial, the global purveyor of super-premium beverages, announced it had requested and been granted a suspension in trading of its shares on the Main Market for listed securities with effect from 15 April 2024 pending clarification of the Company's financial position. The Company also ceased trading.

Since that date the Board has looked at a number of possible routes to seek repayment for creditors and potentially retain value to shareholders. These discussions have been ongoing to the present date. However, we have been informed that on 30 July 2024 INL Investment Limited ("INL") has proceeded to appoint a liquidator to the Company's New Zealand subsidiary, East Imperial Limited, having first exercised its security over the subsidiary's intermediate holding company. In the circumstances the Board will now proceed with the appointment of a Liquidator to the Company and hereby gives notice of the intention to cancel the Company's listing on the Equity Shares (Transition) category of the Official List ("Cancellation"). A further announcement in relation to Cancellation will be made in due course.

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information, please contact:

East Imperial plc Anthony Burt	[e-mail]
Allenby Capital Limited (Broker) Guy McDougall / Matt Butlin (Sales and Corporate Broking) Jeremy Porter / Piers Shimwell (Corporate Finance)	[phone]

About East Imperial

Founded in New Zealand and Singapore in 2012, East Imperial produces a range of super-premium mixers that sell throughout APAC, the US and EMEA. Guided by a clear strategy to capitalise on the growing demand for premiumisation across the beverage industry, East Imperial has sold over 33 million bottles in over 20 countries since its founding, with popular products including Old World Tonic Water, Grapefruit Tonic Water, Yuzu Tonic Water and Mombasa Ginger Beer. In 2023, East Imperial won 8 medals at the coveted Tonic & Mixers Masters Competition in London.

The Company was founded on the philosophy of creating exquisite products defined by heritage, tradition, and authenticity. All products are made from the highest quality, all-natural ingredients, reflecting East Imperial's commitment to providing a sustainable product and minimising environmental impacts at every stage of the manufacturing process. For more information about East Imperial and its ultra-premium mixers.

 

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