Result of Conversion Offer and Issue of Equity

RNS Number : 6608M

Gusbourne PLC

01 August 2017

 

1 August 2017

Gusbourne Plc

("Gusbourne" or the "Company")

Result of Bond Conversion & Issue of Equity

Further to the Company's Open Offer with existing Shareholders which completed on 29 June 2017 and raised gross proceeds of £4.2 million, Gusbourne announced that it had offered Bondholders the opportunity to convert their Bonds into new Ordinary Shares at the Issue Price of 40p. Further to the closing of the Conversion Offer on 31 July 2017, the Company announces that it has received final acceptances in respect of 5,136,662 Conversion Offer Shares, which represents a conversion of approximately 46 per cent. of the outstanding Bonds and a Conversion Value of approximately £2.05 million.

Accordingly, an application has been made for 5,136,662 new ordinary shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur on 2 August 2017. Following Admission, the Company will have 39,366,984 ordinary shares admitted to trading on AIM.   

Pursuant to the Bond Conversion, the following directors have applied for Conversion Offer Shares in the following amounts:

Director	Position	Conversion Offer Shares applied for
Mike Paul	Deputy Chairman	27,472
James Arbuthnot	Non-Executive Director	27,472
Ian Robinson (including persons closely associated)	Non-Executive Director	274,727
Matthew Clapp	Non-Executive Director	27,472

A further announcement will be made in relation to these dealings following Admission, pursuant to the requirements of the EU Market Abuse Regulation.

Following Admission, Lord Ashcroft KCMG will have a total interest of 28,501,153 Ordinary Shares, representing approximately 72.4 per cent. of the enlarged issued share capital of the Company.

Capitalised terms in this announcement shall have the same meaning as those defined in the circular detailing the Conversion Offer, which may be found on the Company's website at www.gusbourneplc.com.

For further information contact:

Gusbourne Plc

Andrew Weeber                                                           [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 mature 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.

 

END

 

 

MSCEAXXFDDXXEFF