Gusbourne Regulatory News (GUS)

20 December 2022

Gusbourne Plc

("Gusbourne", the "Company" or the "Group")

Grant of Share Options

Gusbourne Plc (AIM: GUS) (the 'Company'), which produces and distributes a range of high quality and award-winning English sparkling and still wines, today announces that it has introduced a new Performance Share Plan ("PSP") and Company Share Option Plan ("CSOP"). Under the PSP and CSOP, options ("PSP Options" and "CSOP Options" as applicable) over ordinary shares of 1 pence each in the Company ("Shares") may be granted at the discretion of the Remuneration Committee.

The Company has today granted PSP Options to Charlie Holland (Chief Wine Maker and CEO) and Katharine Berry (CFO) as detailed below. Katharine is expected to be appointed to the board in the New Year. Vesting of the PSP Options is subject to the following performance criterion: the volume-weighted average mid-market closing price of a Share as derived from the AIM Appendix to the Daily Official List ("VWAP") over a period of forty five business days is equal to or greater than the agreed vesting price ( "Vesting Price") as specified in the table below.

In the special case of Charlie Holland, in recognition of his long and valued service to the Company since 2013, 50% of his PSP Options will vest and be exercisable on or after the second anniversary of the date of grant, subject to the Vesting Price being met

The performance period for PSP Options granted under the PSP will typically be four years commencing from the date of grant of the relevant PSP Options. Except in the event of a change of control of the Company and in certain 'good leaver' scenarios, no PSP Options may be exercised prior to the expiry of the performance period and unless the relevant performance criterion is met. PSP Options shall be granted under the PSP with an exercise price of 1 pence per Share (being equal to the nominal value of a Share). Shares acquired on exercise of PSP Options shall be subject to a two-year holding period.

The Company has also granted each of Charlie Holland, Katherine Berry, Jon Pollard (a director of the Company) and two other senior executives of the Company, market value CSOP Options over 41,958 Shares with an exercise price of 71.5p per Share (representing an aggregate market value at the date of grant of £30,000). Vesting of the CSOP Option is subject to the following performance criterion: the VWAP over a period of forty five business days is equal to or greater than 100 pence.

The performance period of the CSOP Options shall be three years from the date of grant. Except in the event of a change of control of the Company and in certain 'good leaver' scenarios, no CSOP Options may be exercised prior to the expiry of the performance period and unless the performance criterion is met. Shares acquired on exercise of the CSOP Options shall be subject to a holding period of one year.

The total number PSP and CSOP Options granted today amounts to 944,273.

For further information contact:

Gusbourne Plc

Charlie Holland +44 (0)12 3375 8666

Panmure Gordon (UK) Limited (Nomad and Sole Broker)  

Oliver Cardigan  +44 (0)20 7886 2500

Hugh Rich

Note: This and other press releases are available at the Company's website: www.gusbourneplc.com

Note to Editors

Gusbourne produces and distributes a range of high quality and award-winning vintage English sparkling wines from grapes grown in its own vineyards in Kent and West Sussex.

The Gusbourne business was founded by Andrew Weeber in 2004 with the first vineyard plantings at Appledore in Kent. The first wines were released in 2010 to critical acclaim. Following additional vineyard plantings in 2013 and 2015 in both Kent and West Sussex, Gusbourne now has 231 acres of mature vineyards. The NEST visitor centre was opened next to the winery in Appledore in 2017, providing tours, tastings and a direct outlet for our wines.

Right from the beginning, Gusbourne's intention has always been to produce the finest English sparkling wines. Starting with carefully chosen sites, we use best practice in establishing and maintaining the vineyards and conduct green harvests to ensure we achieve the highest quality grapes for each vintage. A quest for excellence is at the heart of everything we do. We blind taste hundreds of samples before finalising our blends and even after the wines are bottled, they spend extended time on their lees to add depth and flavour. Once disgorged, extra cork ageing further enhances complexity. Our winemaking process remains traditional, but one that is open to innovation where appropriate. It takes four years to bring a vineyard into full production and a further four years to transform those grapes into Gusbourne's premium sparkling wine.

We are one of England's most awarded wine producers. Highlights include:

·  Three times winner of the International Wine & Spirits Challenge (IWSC) 'English Wine Producer of the Year', having won the award in 2013, 2015 and 2017- a unique achievement.

·  Back-to-back winner of 'Estate Winery of the Year' at the Wine GB Competition in 2021 and 2022.

·  Trophy for 'Best Vintage English Sparkling Wine' at the 2022 International Wine Challenge in May 2022, along with eleven other medals.

·  Thirteen medals, including two golds at the Decanter World Wine Award in June 2022.

·  A Judges' Selection and Platinum award at the Texsom Awards in June 2022.

·  Shortlisted for 'Best Sparkling Wine Producer' at the International Wine and Spirits Competition in July 2022.

·  Trophies for 'Best English Still Red Wine', 'Best English Still White Wine' and 'Best English Still Wine' at the Wine GB awards in July 2022.

·  Five gold medals at the Champagne and Sparkling Wine World Championships in September 2022.

·  Blanc de Noirs and Blanc de Blancs of the Year in the England 2022 Special Report by Tim Atkin MW in October 2022.

·  Two Editor's Choice listings in Wine Enthusiast and four wines scoring over 94 points in October 2022.

Gusbourne's luxury brand enjoys premium price positioning and is distributed in the finest establishments both in the UK and abroad. Our wines can be found in leading luxury retailers, restaurants, hotels and stockists, always being aware that where we are says a lot about who we are.

Gusbourne also overwhelmingly dominates the list of English Sparkling wines traded on Liv-Ex and its Pinot Noir remains the only English still wine to be traded on the investment platform.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.