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LONDON (Alliance News) - Winemaker Gusbourne PLC said Tuesday it raised GBP2.5 million in its recent open offer, which was taken up by around 70.7% of qualifying shareholders.
The company had been looking to raise up to GBP3.6 million in the open offer. The company said it has also seen a GBP390,000 reduction in debt due to Director Andrew Weeber and his wife, as a result of their participation.
"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," said Chief Executive Officer Ben Walgate in a statement.
Shares in Gusbourne are untraded Tuesday morning. The stock last traded at 60.60 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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