George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGusbourne Regulatory News (GUS)

Share Price Information for Gusbourne (GUS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 60.50
Bid: 60.00
Ask: 61.00
Change: 0.00 (0.00%)
Spread: 1.00 (1.667%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 60.50
GUS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Related Party Transaction & Possible Equity Raise

31 May 2018 16:27

RNS Number : 9077P
Gusbourne PLC
31 May 2018
 

Gusbourne Plc

("Gusbourne" or the "Company")

Related Party Transaction

Potential Equity Raise

As previously announced by the Company, the achievement of the Group's long-term development strategy continues to depend on the raising of further funding, whether through debt or equity. The Company has recently secured interest from a number of potential investors, and anticipates that it will be able to conclude an equity raise within the coming months through a subscription of new ordinary shares in the Company from Lord Ashcroft KCMG PC and other investors (the "Subscription").

The proceeds from the Subscription will continue to be applied towards working capital and capital expenditure, in-line with the Company's long-term strategic plan.

In order to meet the Company's immediate working capital requirements, Gusbourne has entered into an agreement with Lord Ashcroft KCMG PC to receive an unsecured loan of £1,000,000 (the "Loan Agreement") which is intended to be repaid in full, through conversion into new ordinary shares as part of the Subscription, when it concludes.

If the Subscription does not proceed, or if a subscription price is not agreed between the Company and Lord Ashcroft by 31 July 2018, the loan and interest will become repayable on demand, subject to such repayment not being in breach of the Company's existing facilities with Barclays Bank plc. The loan carries interest for a period of 3 months following the date of the loan agreement at the rate of 7% per annum above the base rate as varied from time to time by Barclays Bank plc, and thereafter at 10% per annum. Gusbourne may repay the loan or any part of it early but may not reborrow any amount so repaid.

The Loan Agreement constitutes a related party transaction under Rule 13 of the AIM Rules as Lord Ashcroft is a substantial shareholder in the Company.

The Directors of the Company, having consulted with Cenkos Securities plc 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.

For further information contact:

Gusbourne Plc

Andrew Weeber +44 (0)1233 758 666

Cenkos Securities plc

Nicholas Wells / Callum Davidson +44 (0)20 7397 8920

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 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCFKDDBPBKDAPN
Date   Source Headline
31st Jan 20247:00 amRNSTrading Statement
19th Jan 20244:20 pmRNSRefinancing of existing loan facilities
17th Jan 20247:00 amRNSBoard Changes and CEO Designate Appointment
4th Jan 202412:26 pmRNSIssue of Equity
21st Dec 20237:00 amRNSAuditor Change
30th Nov 20237:00 amRNSDirectorate Change
14th Nov 20237:00 amRNSShort term Unsecured Loan & Extension of Warrants
3rd Nov 20233:00 pmRNSIssue of Equity
26th Oct 20237:00 amRNSWarrant Exercise/PDMR Dealings
19th Oct 20237:00 amRNSHarvest Report
28th Sep 20237:00 amRNSInterim results to 30 June 2023
6th Sep 20237:00 amRNSBoard Change and Appointment of Interim CEO
1st Sep 20237:00 amRNSIssue of Equity
29th Jun 20232:42 pmRNSResult of AGM
27th Jun 20237:00 amRNSBoard Change
7th Jun 20237:00 amRNSFinal Results
21st Mar 20237:00 amRNSDirectorate Change
14th Feb 202312:12 pmRNSAIM Rule 17 Notification
31st Jan 20237:00 amRNSTrading Update
16th Jan 20231:32 pmRNSIssue of Equity
20th Dec 20227:00 amRNSGrant of Share Options
16th Dec 202210:30 amRNSIssue of Equity
14th Dec 20227:00 amRNSExtension of the final exercise date of Warrants
27th Oct 20227:00 amRNSHarvest Report
4th Oct 20221:51 pmRNSIssue of Equity
29th Sep 20227:00 amRNSInterim results to 30 June 2022
6th Sep 20227:00 amRNSChange of Adviser
22nd Aug 20227:00 amRNSDirectorate Change
15th Aug 20227:00 amRNSTrading Update, Refinancing & Land Purchase
30th Jun 20222:00 pmRNSResult of AGM
6th Jun 20227:00 amRNSFinal Results
3rd May 202210:15 amRNSIssue of Equity
29th Mar 202212:10 pmRNSIssue of Equity
2nd Mar 20229:30 amRNSIssue of Equity
10th Feb 20227:00 amRNSTrading Update
17th Dec 20217:00 amRNSCompletion of Warrant Issue
15th Dec 20213:50 pmRNSFurther re Issue of Warrants
15th Dec 20217:00 amRNSResult of Open Offer and Issue of Warrants
22nd Nov 20217:00 amRNSLaunch of Open Offer and Posting of Circular
2nd Nov 20214:34 pmRNSDirector/PDMR Shareholding
1st Nov 20217:00 amRNSResult of Warrant Exercise and Debt Conversion
18th Oct 20214:30 pmRNSApplication for Admission
18th Oct 20212:10 pmRNSResult of ABB
18th Oct 20217:01 amRNSPlacing and Subscription
18th Oct 20217:00 amRNSFunding Update
30th Sep 20217:00 amRNSInterim Results to 30 June 2021
10th Aug 20217:38 amRNSIssue of Equity
23rd Jul 20217:00 amRNSDirector/PDMR Shareholding
22nd Jul 20217:00 amRNSTrading and Capital Structure Update
19th Jul 20211:00 pmRNSIssue of Equity

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

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

Quickpicks are a member only feature

Login to your account

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