RE: RNS27 Mar 2025 13:21
Shandypants . You are correct I’m wrong in that description.
RNS 21st July 2021 !
The net proceeds of the fundraising will be used by Distil to invest £3 million (with the option to increase this to £5 million) in Ardgowan in the form of a convertible loan. This loan forms part of a total initial investment package of £11.4 million, which will be used by Ardgowan to build the Ardgowan Distillery and visitor centre;
· Immediate and longer-term benefits for the Company through the Investment, including distilling, new product development and small batch bottling capability, a physical 'home' for the Company's Blackwoods and TRØVE brands and access to Ardgowan's Master Distiller, the renowned Max Macfarlane, to help produce an own brand malt whisky for the Company;
· The global malt whisky market is currently worth approximately US$7.7bn out of a total whisky market worth approximately US$74bn annually. The Directors believe there is significant scope for growth in the malt whisky market and see numerous benefits through adding malt whisky to the Company's product portfolio as well as through further collaborative agreements with Ardgowan;
· Ardgowan has full planning permission to build a new distillery and convert a range of existing buildings on part of the Ardgowan Estate, west of Glasgow near Inverkip in Scotland, to include a separate distillery for the Company, as well as a visitor centre and shop. The Estate, at the heart of which is Ardgowan House, is steeped in history and the distillery development is expected to increase its standing as an events and tourist attraction;