LONDON--(BUSINESS WIRE)--
Chapel Down Group plc
(“Chapel Down” or the “Company”)
Result of Oversubscribed Open Offer
The Open Offer closed for acceptances at 11.00 a.m. on 5 January 2018.
Further to the Company’s announcement of 15 December 2017, Chapel Down,
the market leader in English wines, is pleased to announce that it
received valid applications to subscribe for £2.35m under the Open
Offer. The Open Offer was to raise up to £1.47m and was heavily
oversubscribed.
Qualifying Shareholders who have validly applied for Open Offer Shares
will receive their full Open Offer Entitlement. Applications for New
Ordinary Shares under the Excess Application Facility will be scaled
back pro rata to the number of Excess Shares applied for by Qualifying
Shareholders under the Excess Application Facility.
Shareholders will be notified of their entitlement in line with the
timetable and procedures detailed in the circular posted on 15 December
2017 (“the Circular”). Shareholders wishing to confirm their
entitlements can contact Link Asset Services on 0371 664 0321 for
further information
The Company announced on 13 December 2017 that it had raised £18.53m
(before expenses) through the issue of new shares at a price of 50 pence
per share. Including the Open Offer the total raised is £20.0m before
expenses.
It is expected that the admission of the 2,940,000 Open Offer Shares to
trading on the NEX Exchange Growth Market will become effective at 8.00
a.m. on 12 January 2018.
Open Offer Shares (held in uncertificated form) are expected to be
credited to CREST accounts on 12 January 2018 and definitive share
certificates for the Open Offer Shares (held in certificated form) are
expected to be despatched to shareholders who hold their Ordinary Shares
in certificated form by 25 January 2018.
Capitalised terms used in this announcement shall have the same meanings
given to them in the Circular.
Frazer Thompson, CEO of Chapel Down, said:
“We are delighted by the response we have received from existing
shareholders, and to have met our full target. The £20 million raised
through the placing and the open offer will enable us to significantly
invest in the business to meet the growing demand for our products. We
look forward to this exciting next stage of growth at Chapel Down.”
Total Voting Rights
Following the admission of the Open Offer Shares the Company will have
141,020,948 Ordinary Shares in issue. The Company has no shares in
treasury, therefore the figure of 141,020,948 should 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
of their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For further information on Chapel Down please visit www.chapeldown.com
or contact
Chapel Down Group plc
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01580 763 033
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Frazer Thompson
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Chief Executive
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Richard Woodhouse
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Finance Director
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finnCap Ltd
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020 7220 0500
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Geoff Nash/Simon Hicks
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Stephen Norcross
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Headland
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020 3805 4822
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Lucy Legh
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Francesca Tuckett
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180109005996/en/
Chapel Down Group plc
Source: Chapel Down Group plc