Result of Retail Offer
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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION WHERE, OR TO ANY PERSON TO WHOM, SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD VIOLATE ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN CHAPEL DOWN GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF CHAPEL DOWN GROUP PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
For immediate release
9 November 2026
Chapel Down Group plc
(“Chapel Down”, the “Company” or, together with its subsidiaries, the “Group”)
Result of Retail Offer
Chapel Down Group plc (AIM: CDGP), England’s leading winemaker, is pleased to announce that, further to the announcement made at 7.00 a.m. on 5 November 2026 (the “Retail Announcement”), the Retail Offer closed at midday today.
Following the closing of the oversubscribed Retail Offer, 1,162,790 Retail Offer Shares will be issued at a price of 43 pence per Retail Offer Share, raising gross proceeds of approximately £0.5 million. Existing shareholders received their full pre-emption entitlement. Applications in excess of that entitlement, and applications from non-shareholders, were scaled back pro-rata to their applications.
Accordingly, following the issue of the 12,790,697 Placing Shares, a total of 13,953,487 new Ordinary Shares will be issued pursuant to the Capital Raising, resulting in aggregate gross proceeds of approximately £6 million for the Company.
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the Retail Announcement.
James Pennefather, Chief Executive Officer of Chapel Down, commented:
“We are delighted with the strong demand for the Retail Offer, which completes our £6 million Capital Raising. I would like to thank our existing shareholders for their continued support and to welcome our new shareholders to Chapel Down. We look forward to updating shareholders on our progress as we commence work on our new Soft Pressing facility at Tenterden and accelerate our progress towards winning an equivalent 1% share of global Champagne volumes.”
Admission and Dealings
An application has been made to the London Stock Exchange for the Retail Offer Shares to be admitted to trading on AIM (“Retail Offer Admission”). It is anticipated that Retail Offer Admission will become effective and that dealings in the Retail Offer Shares will commence on AIM at 8.00 a.m. on 13 November 2026.
Completion of the Retail Offer remains conditional upon, among other things, Placing Admission and Retail Offer Admission.
Total Voting Rights
Following Retail Offer Admission, the Company's issued share capital will consist of 185,477,803 Ordinary Shares, each carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company following the Retail Offer Admission will be 185,477,803.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Directors Holdings
Following the Retail Offer Admission, the Directors’ holdings and percentage holdings in the Company are expected to be as set out below:
|
Director |
Holding |
Holding Percentage |
|
Lord Michael Spencer |
47,358,937* |
25.53% |
|
Nigel Wray |
24,097,086** |
12.99% |
|
Jamie Brooke |
551,945 |
0.30% |
|
Samantha Wren |
193,691 |
0.10% |
|
Simon Litherland |
113,720 |
0.06% |
|
James Pennefather |
46,511 |
0.03% |
|
Louan Mouton |
23,255 |
0.01% |
|
TOTAL |
72,385,145 |
39.03% |
*Lord Michael Spencer has a total beneficial interest of 47,358,937 shares, comprising 47,180,366 shares held by IPGL Limited and 178,571 shares held in his personal capacity.
** Nigel Wray has a beneficial holding of 2,436,399 shares and the remaining balance of 21,660,687 shares are held by family trusts whose beneficiaries are Nigel Wray's children.
Contacts:
|
Chapel Down Group plc James Pennefather, Chief Executive Officer Louan Mouton, Chief Financial Officer |
015 8076 3033 |
|
Singer Capital Markets (Nominated Adviser, Sole Bookrunner and Broker) Alex Bond Shaun Dobson James Todd Anastassiya Eley |
020 7496 3000 |
|
H/Advisors (Financial PR) Sam Cartwright Jonathan Cook |
020 7379 5151 |
About Chapel Down:
Chapel Down (AIM: CDGP) is England's leading winemaker and the lighthouse brand of English wine, the world's newest international wine region. From its home in Kent in the heart of the Garden of England, Chapel Down produces a range of sparkling and still wines which consistently win prestigious international awards for their quality. Chapel Down has over 1,000 acres of vineyards, c.9% of the UK's total, of which 897 acres are fully productive.
Chapel Down's status as the most recognised English wine brand is supported by its partnerships with flagship sporting and cultural events including Ascot and The Boat Race. Chapel Down is the 'Official Sparkling Wine' of the England and Wales Cricket Board and 'Official English Sparkling Wine' for The Jockey Club and Royal Philharmonic Orchestra.
Chapel Down is listed on the London Stock Exchange's AIM and has over 10,000 retail investors who enjoy discounts on Chapel Down's wines, tours and tastings at the brand's home at Tenterden in Kent, which each year attracts c.50,000 visitors.
Chapel Down is strongly committed to growing its business in balance with the environment and sustainability is a strong, ongoing focus. The company is a founding member of Sustainable Wines of Great Britain and practises sustainable viticulture.
IMPORTANT NOTICES
This announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia (the "United States" or "US")), Australia, Canada, New Zealand, Japan, the Republic of South Africa, any member state of the European Economic Area (the “EEA”) or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.
The Retail Offer Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under the applicable state securities laws of the United States and may not be offered or sold directly or indirectly in or into the United States or to or for the account or benefit of any US person (within the meaning of Regulation S under the US Securities Act) (a "US Person"). No public offering of the Retail Offer Shares is being made in the United States. The Retail Offer Shares are being offered and sold outside the United States in "offshore transactions", as defined in, and in compliance with, Regulation S under the US Securities Act. In addition, the Company has not been, and will not be, registered under the US Investment Company Act of 1940, as amended.
This announcement does not constitute an offer to sell or issue or a solicitation of an offer to buy or subscribe for Retail Offer Shares in the United States, Australia, Canada, New Zealand, Japan, the Republic of South Africa, any member state of the EEA or any other jurisdiction in which such offer or solicitation is or may be unlawful. No public offer of the securities referred to herein is being made in any such jurisdiction.
The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
Singer Capital Markets Securities Ltd, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and for no-one else and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Retail Offer and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in connection with the Retail Offer, the admission of new shares and the other arrangements referred to in this announcement.
The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment, you may get back less than you originally invested. Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.
Certain statements in this announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as "aim", "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, assumptions and uncertainties that could cause the actual results of operations, financial condition, liquidity and dividend policy and the development of the industries in which the Company's businesses operate to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given those risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements speak only as at the date of this announcement and cannot be relied upon as a guide to future performance. Each of the Company and Singer Capital Markets Securities Ltd expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Conduct Authority, the London Stock Exchange or applicable law.
The information in this announcement is for background purposes only and does not purport to be full or complete. None of Singer Capital Markets Securities Ltd or any of its affiliates, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. Each of Singer Capital Markets Securities Ltd and its affiliates, accordingly disclaims all and any liability whether arising in tort, contract or otherwise which it might otherwise be found to have in respect of this announcement or its contents or otherwise arising in connection therewith.
Any indication in this announcement of the price at which the Ordinary Shares have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings or target dividend per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings or dividends per share of the Company.
Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into or forms part of this announcement. The Retail Offer Shares to be issued or sold pursuant to the Retail Offer will not be admitted to trading on any stock exchange other than AIM, a market operated by the London Stock Exchange.
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