GUS Gusbourne Plc

TIDMGUS

RNS Number : 2319Q

Gusbourne PLC

16 June 2015

Gusbourne Plc

(London-AIM: GUS) ("Gusbourne" or the "Company")

Result of Open Offer

Further to the Company's announcement on 28 May 2015 concerning an Open Offer to raise up to GBP3.57 million, Gusbourne announces that it has received final valid acceptances in respect of 5,050,738 Open Offer Shares from Qualifying Shareholders, representing approximately 70.7 per cent. of the maximum offered. The total consideration was GBP2.53 million. Of this, gross cash proceeds receivable by the Company are GBP2.14 million and in addition, the Company has benefited from a GBP0.39 million reduction in debt due to director Andrew Weeber and his wife's acceptances of their full entitlement under the Open Offer by way of conversion of Bonds into Open Offer Shares, as described in the Circular.

Accordingly, an application has been made to AIM for the admission of 5,050,738 new Ordinary Shares to be issued pursuant to the Open Offer ("Admission"). It is expected that Admission will become effective on 17 June 2015. Following Admission, the Company will have 22,904,014 Ordinary Shares in issue ("Enlarged Issued Share Capital").

Shareholdings of the Directors and Lord Ashcroft KCMG PC

The participation of the Directors and Lord Ashcroft KCMG PC under the Open Offer and resultant interests following Admission are shown below:

 
                            Existing       Open Offer                     Ordinary             Percentage 
                            Ordinary           Shares                  Shares held            of Enlarged 
                              Shares       subscribed                    following                 Issued 
                                               for at                    Admission          Share Capital 
                                            the Offer 
                                                Price 
 Lord Ashcroft KCMG PC    11,490,498        3,250,496                   14,740,994                  64.36 
 Andrew Weeber             1,944,444          777,777                    2,722,221                  11.89 
 Paul Bentham                610,740          244,296                      855,036                   3.73 
 Ian Robinson                 81,442           32,577                      114,019                   0.50 
 Ben Walgate                  60,000           30,000                       90,000                   0.39 
 

Ben Walgate, CEO, commented:

"We are appreciative of the continued support from the significant number of Gusbourne Shareholders that have taken part in this Open Offer. The proceeds will assist in the further development of the Gusbourne business and the award winning Gusbourne brand."

Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 28 May 2015.

Enquiries:

Gusbourne Plc

   Andrew Weeber/Ben Walgate                            +44 (0)12 3375 8666 

Cenkos Securities plc

   Nicholas Wells                                                    +44 (0)20 7397 8920 

Note: This and other press releases are available at the Company's web site: www.gusbourneplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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