Last checked at 27 Sep 2019 07:00
27 September 2019
Gusbourne Plc
("Gusbourne", the "Company" or the "Group")
Extension of Warrant Holder Exercise Period
The Company currently has in issue warrants over 6,094,240 new ordinary shares of one pence each in the capital of the Company (the "Warrants"). The Warrants can currently be exercisable at an exercise price of 60 pence per share until 30 September 2019. The Company has agreed to extend this exercise period to 25 October 2019.
Certain of the Warrants are held by the Directors of the Company, or connected parties, and a substantial shareholder of the Company, as set out below:
Name | Position | Warrants held as at 25 September 2019 |
Lord Ashcroft KCMG PC | Substantial Shareholder | 4,504,510 |
Ian Robinson* | Non-Executive Director | 41,667 |
Mike Paul | Non-Executive Deputy Chairman | 83,334 |
Matthew Clapp | Non-Executive Director | 16,667 |
Paul Bentham* | Non-Executive Director | 83,334 |
* The warrants held by Ian Robinson are held in the name of his wife, Patricia Robinson
** The warrants held by Paul Bentham are held in the name of a wholly owned company, called Franove Holdings Limited's
The extension of the Warrants exercise period constitutes a related party transaction under Rule 13 of the AIM Rules. The Independent Directors of the Company, having consulted with Canaccord Genuity Limited in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned. The Independent Directors of the Company for the purposes of considering the related party transaction are Andrew Weeber (Non-Executive Chairman), Charlie Holland (Chief Winemaker and Chief Executive Officer), Jon Pollard (Chief Vineyard Manager and Chief Operating Officer) and Lord Arbuthnot PC (Non-Executive Director)
In addition to the Warrants set out above, the Company has in issue an additional 2,036,517 warrants which are exercisable by the holders with an exercise price of 75 pence per share until 31 July 2021.
For further information contact:
Gusbourne Plc
Charlie Holland +44 (0)1233 758 666
Canaccord Genuity Limited
Bobbie Hilliam +44 (0)20 7523 8000
Georgina McCooke
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 which will increase to 288 acres following the planned planting of an additional 57 acres in 2020.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name: | Patricia Robinson, being the wife of Ian Robinson | |
2 | Reason for the notification | ||
a) | Position/Status: | Ian Robinson is a Non-Executive Director | |
b) | Initial Notification/Amendment: | Initial Notification | |
3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | ||
a) | Name: | Gusbourne PLC | |
b) | LEI: | 2138006K652TIS2UN864 | |
4. | Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. | ||
a) | Description of the financial instrument: Identification code: | Warrants over Ordinary Shares of 1 pence each ISIN: GB00B8TS4M09 | |
b) | Nature of the transaction: | Extension of warrant terms to 25 October 2019 | |
c) | Price(s) and volume(s): | Price(s) | Volume(s) |
- | 41,667 | ||
d) | Aggregated volume: Price: | 41,667 - | |
e) | Date of the Transaction: | 26 September 2019 | |
f) | Place of the Transaction: | Outside a trading venue | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name: | Mike Paul | |
2 | Reason for the notification | ||
a) | Position/Status: | Non-Executive Deputy Chairman
| |
b) | Initial Notification/Amendment: | Initial Notification | |
3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | ||
a) | Name: | Gusbourne PLC | |
b) | LEI: | 2138006K652TIS2UN864 | |
4. | Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. | ||
a) | Description of the financial instrument: Identification code: | Warrants over Ordinary Shares of 1 pence each ISIN: GB00B8TS4M09 | |
b) | Nature of the transaction: | Extension of warrant terms to 25 October 2019 | |
c) | Price(s) and volume(s): | Price(s) | Volume(s) |
- | 83,334 | ||
d) | Aggregated volume: Price: | 83,334 - | |
e) | Date of the Transaction: | 26 September 2019 | |
f) | Place of the Transaction: | Outside a trading venue | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name: | Matthew Clapp | |
2 | Reason for the notification | ||
a) | Position/Status: | Non-Executive Director
| |
b) | Initial Notification/Amendment: | Initial Notification | |
3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | ||
a) | Name: | Gusbourne PLC | |
b) | LEI: | 2138006K652TIS2UN864 | |
4. | Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. | ||
a) | Description of the financial instrument: Identification code: | Warrants over Ordinary Shares of 1 pence each ISIN: GB00B8TS4M09 | |
b) | Nature of the transaction: | Extension of warrant terms to 25 October 2019 | |
c) | Price(s) and volume(s): | Price(s) | Volume(s) |
- | 16,667 | ||
d) | Aggregated volume: Price: | 16,667 - | |
e) | Date of the Transaction: | 26 September 2019 | |
f) | Place of the Transaction: | Outside a trading venue | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name: | Franove Holdings Limited, a company wholly owned by Paul Bentham | |
2 | Reason for the notification | ||
a) | Position/Status: | Paul Bentham is a Non-Executive Director
| |
b) | Initial Notification/Amendment: | Initial Notification | |
3 | Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor | ||
a) | Name: | Gusbourne PLC | |
b) | LEI: | 2138006K652TIS2UN864 | |
4. | Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. | ||
a) | Description of the financial instrument: Identification code: | Warrants over Ordinary Shares of 1 pence each ISIN: GB00B8TS4M09 | |
b) | Nature of the transaction: | Extension of warrant terms to 25 October 2019 | |
c) | Price(s) and volume(s): | Price(s) | Volume(s) |
- | 83,334 | ||
d) | Aggregated volume: Price: |
- | |
e) | Date of the Transaction: | 26 September 2019 | |
f) | Place of the Transaction: | Outside a trading venue | |