26 October 2023
Gusbourne Plc
("Gusbourne", the "Company" or the "Group")
Exercise of Warrants / PDMR Dealings
Exercise of the Company's Warrants held by Directors
The Company announces that certain directors of the Company, as detailed below, have given notice to exercise warrants expiring on 16 December 2023, over 57,740 ordinary shares of 1 pence each in the Company ("Ordinary Shares") at an exercise price of 75 pence each. This exercise represents 74% of the warrants held by the directors. A further announcement will be made in due course when the 57,740 Ordinary Shares are issued and an Application to AIM for admission has been made ("Admission"). Further details are shown in the following table and the notes below:
| Director | Number of existing Ordinary Shares held | Number of Ordinary Shares issued through exercise | Number of Ordinary shares upon Admission | Interest in Ordinary Shares upon Admission (%) |
| Lord Arbuthnot PC | 111,360 | 7,345 | 118,705 | 0.20 |
| Jim Ormonde | 300,000 | 19,788 | 319,788 | 0.53 |
| Mike Paul | 160,806 | 10,607 | 171,413 | 0.28 |
| Ian Robinson | 542,753 | 20,000 | 562,753 | 0.92 |
| Total | 1,114,919 | 57,740 | 1,172,659 | 1.93 |
Final exercise date of the Warrants
On 17 December 2021, the Company issued transferrable one-year warrants to subscribe for 4,002,259 Ordinary Shares at 75p per Ordinary Share to all Shareholders on the register on 16 December 2021. The warrants originally had a final exercise date of 16 December 2022 and on 14 December 2022 the Company agreed to extend this final exercise date to 16 December 2023 (the "Warrants").
Following the exercise of 57,740 Warrants by the Directors, unexercised Warrants at 25 October 2023 amount to 3,892,225 Ordinary Shares of 1 pence each, with 110,034 Warrants having been exercised to date, inclusive of those exercised by Directors
Of these unexercised Warrants, 2,660,158 (68.3%) are held by the Company's largest shareholder, Belize Finance Limited, a related party of Lord Ashcroft.
The share price of the Company on 25 October 2023 was 74.5p per Ordinary Share.
The Company would like to remind all holders of unexercised Warrants to acquire Ordinary Shares in the Company, that the final date for exercise is 16 December 2023.
Enquiries:
| Gusbourne Plc | |
| Katharine Berry, CFO | +44 (0)12 3375 8666 |
| Phil Clark, Investor Relations | |
| Panmure Gordon (UK) Limited (Nomad and Sole Broker) | |
| James Sinclair-Ford / Ailsa Macmaster / Lauren Riley | +44 (0)20 7886 2500 |
| Hugh Rich | |
| Media: | |
| Houston Kate Hoare / Ben Robinson / India Spencer | +44 (0)20 4529 0549 |
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. The person responsible for arranging for the release of this announcement on behalf of the Company is Katharine Berry, Chief Financial Officer.
Gusbourne plc (AIM:GUS) is a premium English sparkling and fine wine producer, specialising in the production and distribution of award winning wines, produced from grapes grown across its vineyards in Kent and West Sussex.
Since the Group planted its first vines in 2004, it has had a clear vision and single goal: to create English Still and Sparkling Wines that would stand up alongside the very finest offerings from across the globe.
From these humble beginnings, Gusbourne has focussed on building long-term assets to drive value creation for all stakeholders. Today, the Group is an acknowledged leader in the rapidly expanding English wine industry, achieving international brand recognition across its product range.
Drawing on an estate of over 93 hectares of mature vineyards with additional new land available to scale further, the Gusbourne cellar continues to mature with ever expanding fine wine stocks becoming available to service the growing demands of the Group's increasingly international customer base.
Gusbourne's luxury brand enjoys premium price positioning and is distributed in the finest establishments both in the UK and overseas including premium hotels and restaurants, independent wine merchants, and high-end stockists and retailers. The Group also continues to invest in building strong relationships with its growing and loyal direct customer base, including through its immersive brand experience at its cellar door experiences, the Nest in Kent.
The notifications below are made in accordance with the requirements of the Market Abuse Regulations.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Lord Arbuthnot PC
|
| 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 participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Gusbourne PLC |
| b) | LEI | 2138006K652TIS2UN864 |
| 4
| Details of the 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, type of instrument Identification code | Ordinary shares of £0.01 each ISIN: GB00B8TS4M09 |
| b)
| Nature of the transaction | Exercise of warrants over Ordinary Shares |
| c) | Price(s) and volume(s) | Exercise price 75p
7,345 Ordinary Shares
|
| d) | Aggregated information - Aggregated volume
- Price |
7,345 Ordinary Shares
£5,508.75
|
| e) | Date of the transaction | 26 October 2023 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | James Ormonde
|
| 2 | Reason for the notification | |
| a) | Position / status | Non-Executive Chairman
|
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Gusbourne PLC |
| b) | LEI | 2138006K652TIS2UN864 |
| 4
| Details of the 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, type of instrument Identification code | Ordinary shares of £0.01 each ISIN: GB00B8TS4M09 |
| b)
| Nature of the transaction | Exercise of warrants over Ordinary Shares |
| c) | Price(s) and volume(s) | Exercise price 75p
19,788 Ordinary Shares
|
| d) | Aggregated information - Aggregated volume
- Price |
19,788 Ordinary Shares
£14,841.00
|
| e) | Date of the transaction | 26 October 2023 |
| 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 | Interim Chief Executive Officer
|
| b) | Initial notification / amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Gusbourne PLC |
| b) | LEI | 2138006K652TIS2UN864 |
| 4
| Details of the 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, type of instrument Identification code | Ordinary shares of £0.01 each ISIN: GB00B8TS4M09 |
| b)
| Nature of the transaction | Exercise of warrants over Ordinary Shares |
| c) | Price(s) and volume(s) | Exercise price 75p
10,607 Ordinary Shares
|
| d) | Aggregated information - Aggregated volume
- Price |
£7,955.25
|
| e) | Date of the transaction | 26 October 2023 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Ian Robinson |
| 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 participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Gusbourne PLC |
| b) | LEI | 2138006K652TIS2UN864 |
| 4
| Details of the 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, type of instrument Identification code | Ordinary shares of £0.01 each ISIN: GB00B8TS4M09 |
| b)
| Nature of the transaction | Exercise of warrants over Ordinary Shares |
| c) | Price(s) and volume(s) | Exercise price 75p
20,000 Ordinary Shares
|
| d) | Aggregated information - Aggregated volume
- Price |
£15,000.00
|
| e) | Date of the transaction | 26 October 2023 |
| f) | Place of the transaction | Outside a trading venue |
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