5th Sep 2018 12:56
LONDON (Alliance News) - Gusbourne PLC said Wednesday that it received acceptances for GBP3.7 million worth of shares under its previously announced share subscription offer.
The company issued 6.2 million at 60 pence per share pursuant to its offer. In mid-August, the wine maker said it planned to raise between GBP3 million and GBP5 million by a share subscription offer at 60p.
The company said it will use the funds raised for capital expenditure, additional winery and storage capacity and working capital.
Five of the company's directors subscribed for some of the shares.
Deputy Chairman Mike Paul subscribed for GBP50,000, Non-Executive Directors James Arbuthnot for GBP15,000 and Ian Robinson for GBP25,000. Non-Executive Directors Paul Bentham for GBP50,000 and Matthew Clapp for GBP10,000.
In addition, the company said it will issue 6.2 million warrants on a 1-for-1 basis to subscribers of the new shares at an exercise price of 60p.
Shares in the wine maker were untraded at 80.90p.
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Gusbourne