New West Sussex long term farm business tenancy

RNS Number : 5951V

Gusbourne PLC

09 April 2019

 

9 April 2019

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.

Gusbourne Plc

("Gusbourne", the "Company" or the "Group")

New West Sussex long term farm business tenancy

The Company is pleased to announce that it has entered into a new long term farm business tenancy in respect of an additional 73 acres of land adjacent to its existing vineyards in West Sussex. The Company intends to plant additional vines on 57 acres of this land in 2020, which are expected to start producing grapes in 2022. The lease has a term of 50 years from September 2019 and will increase the Company's vineyards in West Sussex to 136 acres, with the total acreage under vine, including the 152 acres in Kent, of 288 acres following the new plantings.

This expansion of the Company's acreage under vine is expected in due course to increase the Group's   production volumes and efficiency.

Enquiries:

Gusbourne Plc

Charlie Holland                                                                 [phone]                       

Cenkos Securities plc

Nicholas Wells / Callum Davidson                                 [phone]

Note: This announcement and other press releases are available to view at the Company's website: www.gusbourneplc.com

Note to Editors

Gusbourne PLC ("the Company") is engaged, through its wholly owned subsidiary Gusbourne Estate Limited (together the "Group"), in the production and distribution of a range of high quality and award winning English sparkling wines from grapes grown in its own vineyards in Kent and West Sussex. The majority of the Group's vineyards are located at its freehold estate at Appledore in Kent where the winery is also based. The Group has a total of 231 acres of vineyards which will increase to 288 acres following the planting of an additional 57 acres in 2020.

 

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