22nd Jul 2024 13:37
Gusbourne PLC - Ashford, Kent-based sparkling wine producer - Majority owner Michael Ashcroft notifies Gusbourne he wants to explore options for his 66.8% shareholding. The options could include a sale of his shares, a merger with another wine maker, and a capitalisation of all or part of his debt. Ashcroft is the former deputy chair of the Conservative Party. A similar decision to exit his holding in staffing firm Impellam Group PLC led to that company accepting a GBP483.2 million takeover from HeadFirst Global BV back in December. Gusbourne says it now is in an offer period, but neither it nor Ashcroft are currently in discussions with a potential buyer for Ashcroft's shares or the entire company.
"Gusbourne has established itself as one of the UK's most significant fine wine producers and has an exciting strategy for future global growth," says Chief Executive Officer Jonathan White, adding: "We look forward to entering into constructive discussions which may arise from this process."
Ashcroft also is a significant share holder in Marlowe PLC, a provider of regulatory and insurance compliance services for the fire safety and security, water and air hygiene, and occupational health sectors. Marlow on Monday says Ashcroft's stake is 17.2% following the company's recent share buyback.
Current stock price: 65.60 pence, down 0.6% in London on Monday for GBP39.9 million market capitalisation
12-month change: down 16%
By Tom Waite, Alliance News editor
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