LONDON: Chapel Down Group, the market leader in English wines, announced the completion of the fundraising announced on 4 June 2021.
The £6.876 million was secured in just 33 days with over 4,000 investors subscribing for a total of 11,555,972 new ordinary shares of £0.05p each in the Company (“Ordinary Shares”) at a price of 59.5 pence per Ordinary Share..
The Fundraising consisted of:
- a placing of 2,395,792 new Ordinary Shares at the Issue Price to raise gross proceeds of £1.426 million from Directors of the Company and IPGL Limited, the family office of Michael Spencer, a substantial shareholder in the Company; and
- an equity crowdfunding of 9,160,180 new Ordinary Shares at the Issue Price to raise £5.450 million.
Frazer Thompson, CEO said: “We are thrilled to have hit the maximum Fundraising target so quickly. We are truly humbled that so many more investors have decided to join us on our journey to change the way the world thinks about English wine forever. 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.”
Application has been made to the Aquis Stock Exchange (“AQSE”) for Admission of 11,555,972 new Ordinary Shares. It is expected that the new Ordinary Shares will be admitted to trading on AQSE at 8.00 a.m. on or around 21 July 2021 (“Admission”). The new Ordinary Shares rank pari passu with the Company’s existing Ordinary Shares.
Following Admission, the Company will have 157,355,304 Ordinary Shares in issue with each share carrying the right to one vote. This 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 Company under the FCA’s Disclosure and Transparency Rules.
Chapel Down Group PLC share price
0.64 EUR
16 Jul, 8:01 am GMT+2 ·Disclaimer