Gusbourne PLC - Kent-based winemaker - Raises GBP983,638 through largest shareholder Belize Finance Ltd exercising all of its outstanding warrants to subscribe for 1.3 million shares at 75 pence each.
Other warrant holders have exercised a total of 307,500 warrants, to subscribe for 307,500 shares, providing the company will GBP230,625 in proceeds.
Following placing and subscription which raised GBP2.6 million in proceeds, Gusbourne will look to raise GBP2.0 million by through an open offer to all existing shareholders at a price of 75p per share.
Adding the open offer to the placing, subscription, warrants exercise and the conversion of a short term loan and deep discount bonds, Gusbourne stands to raise a total of GBP4.5 million, which will go towards supporting business growth.
Current stock price: 97.74 pence, up 4.4% on Monday
Year-to-date change: up 56%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Gusbourne (GUS)