10th Feb 2025 11:25
(Alliance News) - Gusbourne PLC on Monday said its main shareholder requested a general meting to consider a resolution to delist the company from the AIM market in London.
Shares in the Ashford, Kent-based sparkling wine producer fell 39% to 23.00 pence each on Monday morning in London.
Gusbourne said it received a letter from Belize Finance Ltd on behalf of the company's majority stakeholder Michael Ashcroft, representing a 66.8% stake in Gusbourne's issued share capital.
After the receipt of the letter, the company concluded the review of strategic options for Ashcroft's shareholding that had been announced in July.
Gusbourne is no longer in an offer period after the conclusion of the review.
On January 30, Gusbourne reported that it expects to report 2024 total net revenue of GBP7.1 million, around 1% higher than a year prior.
The company said this reflected "a positive sales performance across our direct sales channels but continued headwinds in the broader hospitality market."
Further, it anticipated an adjusted loss before interest, tax, depreciation and amortisation of around GBP700,000 for 2024, virtually unchanged from the GBP669,000 loss it had reported for 2023.
Chief Executive Jonathan White said at the time: "In 2024 the group continued to strengthen Gusbourne's position as the one of the UK's most significant fine wine producers and made further progress against our growth strategy, in several significant areas of the business. The results have been achieved against a difficult macroeconomic environment, which resulted in challenging trading conditions for the luxury goods sector throughout the year.
Despite this backdrop, we have continued to see significant consumer demand for Gusbourne's wines, serving more business to business and business to customer customers than ever before, and all underpinned by careful ongoing investment in the brand and the unwavering commitment and dedication of our talented team."
By Tom Budszus, Alliance News slot editor
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