Result of General Meeting, AGM and Open Offer

RNS Number : 5841J

Gusbourne PLC

29 June 2017

 

29 June 2017

Gusbourne Plc

("Gusbourne" or the "Company")

Result of General Meeting, AGM and Open Offer

The Company is pleased to announce that all resolutions put to Shareholders in respect of the AGM and the General Meeting held today were duly passed. Furthermore, the Company announces the completion of the Open Offer to raise gross proceeds of approximately £4.2 million. The proceeds from the Open Offer will be used to provide funding for working capital and capital expenditure in line with the Company's long-term strategic plan.

Lord Ashcroft KCMG PC has subscribed for 9,112,909 new Ordinary Shares pursuant to the Open Offer.

The Company also announces that the Share Capital Reduction to subdivide each of the Company's existing ordinary shares of 50p each into one ordinary share of 1 pence and one deferred share of 49 pence, is now effective.

Accordingly, an application has been made for 10,506,560 new ordinary shares of 1p each to be admitted to trading on AIM ("Admission"). Following Admission, the Company will have 34,146,322 Ordinary Shares of 1p each admitted to trading on AIM. Following Admission, Lord Ashcroft KCMG PC will have a total interest of 24,327,403 Ordinary Shares, representing approximately 71.2 per cent. of the issued share capital of the Company.

Capitalised terms in this announcement shall have the same meaning as those defined in the Circular, that 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.

 

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