16th Jul 2021 11:31
Chapel Down Group PLC - Ashford, Kent-based winemaker - Hails the "genesis of a new wine region" following the completion of a GBP6.9 million fundraise. The winemaker secures the amount in 33 days with over 4,000 investors subscribing for 11.6 million shares at 59.5p each.
"We are thrilled to have hit the maximum fundraising target so quickly," comments Chief Executive Frazer Thompson.
"More people than ever are aware of the extraordinary potential of English wines. Twenty years ago people thought we were mad. No longer. This is the genesis of a new wine region - something special."
The fundraising consists of a placing of 2.4 million new shares at 59.5p to raise proceeds of GBP1.4 million from company directors and Michael Spencer, a substantial shareholder. A crowdfunding campaign also takes place and consists of 9.2 million new shares at 59.5p to raise GBP5.5 million.
Current stock price: 56.99p
Year-to-date change: down 13%
By Will Paige; [email protected]
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