Result of Open Offer

RNS Number : 2319Q
Gusbourne PLC
16 June 2015
 



Gusbourne Plc

(London-AIM: GUS) ("Gusbourne" or the "Company")

Result of Open Offer

 

Further to the Company's announcement on 28 May 2015 concerning an Open Offer to raise up to £3.57 million, Gusbourne announces that it has received final valid acceptances in respect of 5,050,738 Open Offer Shares from Qualifying Shareholders, representing approximately 70.7 per cent. of the maximum offered.  The total consideration was £2.53 million. Of this, gross cash proceeds receivable by the Company are £2.14 million and in addition, the Company has benefited from a £0.39 million reduction in debt due to director Andrew Weeber and his wife's acceptances of their full entitlement under the Open Offer by way of conversion of Bonds into Open Offer Shares, as described in the Circular.

 

Accordingly, an application has been made to AIM for the admission of 5,050,738 new Ordinary Shares to be issued pursuant to the Open Offer ("Admission"). It is expected that Admission will become effective on 17 June 2015. Following Admission, the Company will have 22,904,014 Ordinary Shares in issue ("Enlarged Issued Share Capital").

 

Shareholdings of the Directors and Lord Ashcroft KCMG PC

 

The participation of the Directors and Lord Ashcroft KCMG PC under the Open Offer and resultant interests following Admission are shown below:

 


Existing Ordinary Shares

Open Offer Shares subscribed for at the Offer Price

Ordinary Shares held following Admission

Percentage of Enlarged Issued Share Capital

Lord Ashcroft KCMG PC

11,490,498

   3,250,496

            14,740,994

               64.36

Andrew Weeber

1,944,444

       777,777

               2,722,221

               11.89

Paul Bentham

610,740

       244,296

                  855,036

                 3.73

Ian Robinson

81,442

         32,577

                  114,019

                 0.50

Ben Walgate

60,000

         30,000

                     90,000

                 0.39

 

 

 

Ben Walgate, CEO, commented:

 

"We are appreciative of the continued support from the significant number of Gusbourne Shareholders that have taken part in this Open Offer. The proceeds will assist in the further development of the Gusbourne business and the award winning Gusbourne brand."

 

 

Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 28 May 2015.

 

 

Enquiries:

Gusbourne Plc

Andrew Weeber/Ben Walgate                            +44 (0)12 3375 8666

Cenkos Securities plc

Nicholas Wells                                                    +44 (0)20 7397 8920

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

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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