GUS Gusbourne Plc

TIDMGUS

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 GBP4.2 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 GBP2.05 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 
------------------------------  -----------------  -------------- 
                                 Non-Executive 
 James Arbuthnot                  Director          27,472 
------------------------------  -----------------  -------------- 
 Ian Robinson (including         Non-Executive 
  persons closely associated)     Director          274,727 
------------------------------  -----------------  -------------- 
                                 Non-Executive 
 Matthew Clapp                    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                                                           +44 (0)1233 758 666 

Cenkos Securities plc

   Nicholas Wells / Callum Davidson                                 +44 (0)20 7397 8920 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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