Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGunsynd Regulatory News (GUN)

Share Price Information for Gunsynd (GUN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.006
Bid: 0.005
Ask: 0.007
Change: 0.00 (0.00%)
Spread: 0.002 (40.00%)
Open: 0.006
High: 0.006
Low: 0.006
Yest. Close: 0.006
GUN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Further Investment in Human Brands

Tue, 27th Feb 2018 16:53

RNS Number : 1419G
Gunsynd PLC
27 February 2018

Gunsynd plc

("Gunsynd" or the "Company")

Further Investment in Human Brands and Investment Update

Gunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce that it has invested a further £130,000 in Human Brands plc ("Human Brands"), a US based premium spirits company, on the same terms as those announced on 18 December 2017, as follows:

· £130,000 invested by way of convertible loan note ("Loan Note");

· The Loan Note will accrue interest at 9% per annum;

· The repayment of the Loan Note is due on the 30th day of the 24 month after the date of issue of this note ("Repayment Date"). The payment at maturity will include the principal amount of the Loan Note plus all accrued interest;

· While currently not quoted on any exchange, Human Brands intends to seek admission to trading on the London Stock Exchange during 2018. The Company shall be entitled at any stage after the date falling thirty (30) days after Human Brands has achieved trading status on a recognised securities exchange and prior to the Repayment Date to convert all or any part of the Loan Note (and any outstanding interest thereon) into ordinary shares in the capital of Human Brands; and

· The Loan Note shall be converted into ordinary shares of Human Brands at a price equal to a 55% discount to the three day average volume weighted average price of the shares as recorded immediately prior to the conversion date.

Gunsynd now holds, as a result of this investment and the investment announced on 18 December, Loan Notes totalling £260,000 in Human Brands.

In recognition of the efforts of Gunsynd to assist with its proposed London Stock Exchange listing, Human Brands will, subject to completion of the listing, pay Gunsynd a fee equal to 1 per cent of its market capitalisation immediately following completion of the Transaction. This Fee shall be satisfied by the issue of such number of fully paid ordinary shares in Human Brands (post completion of the Transaction) at the listing price as equal 1 per cent of the issued share capital at admission.

About Human Brands

Human Brands is a private US company that produces, distributes and markets premium spirits, wine and beer in the USA and Asia. Their two key products, which they both own the brand of and distribute, are an aged tequila (Copa Imperial Tequila) and a Japanese Whiskey (Shinju Whiskey) which are in two of what the Directors believe to be the fastest growing areas of the US spirits industry. In the year ended 31 December 2016, Human Brands had turnover of $1.04m and profit after tax of $90k.

Investment update

Gunsynd has disposed of 2,991,427 shares in UOG Ltd for a consideration of £169,674 representing a circa 100% profit on the average entry price. The holding in UOG now stands at 3,067,172 shares.

Hamish Harris, the Company's Executive Chairman, commented:

"We are very pleased to have been able to increase our position in Human Brands. We believe Tequila and Japanese Whiskey are set to be two of the spirits with the highest growth in sales in the next few years. With two premium drinks in this area and in particular a stock of aged premium sipping tequila (Copa Imperial), we believe Human Brands is ideally placed to take advantage of this growth. With the sales of two other brands, Casamigos and Patron, for circa $1bn and $5bn respectively, and tequila's change in recent years from perception of being a drink consumed by students to a top shelf liquor, we feel this could be the flagship product that could see Human Brands propelled towards serious success."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The directors of Gunsynd accept responsibility for this announcement.

For further information please contact:

Gunsynd plc

Hamish Harris

+44 20 7440 0640

Cairn Financial Advisers LLP

James Caithie / Sandy Jamieson

+44 20 7213 0880

Peterhouse Corporate Finance

Lucy Williams

+44 20 7469 0930

This information is provided by RNS
The company news service from the London Stock Exchange
Date   Source Headline
2nd Apr 20201:38 pmRNSResult of AGM and Capital Reorganisation
13th Mar 20203:47 pmRNSDirector/PDMR Shareholding
6th Mar 20204:26 pmRNSPosting of Shareholder Circular and Notice of AGM
21st Feb 202011:21 amRNSFurther re: Solomon Islands Investment
21st Feb 20207:00 amRNSQuarterly Investor Update

Login to your account

Don't have an account? Click here to register.