Completion of Fundraising of £6.876 Million Business Wire

LONDON--(BUSINESS WIRE)--

 

Chapel Down Group plc
(“Chapel Down” or the “Company” or the “Group”)
EPIC: CDGP

Completion of Fundraising of £6.876 million

Chapel Down, the market leader in English wines, is pleased to announce the completion of the fundraising (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 “Issue Price”).

The Fundraising consisted of:

  • a placing of 2,395,792 new Ordinary Shares (the “Placing 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 (the “Placing”); and
  • an equity crowdfunding of 9,160,180 new Ordinary Shares at the Issue Price to raise £5.450 million (“Crowdfunding Campaign”).

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.”

Admission and Total Voting Rights

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.

Directors’ Participation in the Fundraising

Certain of the Company's Directors have agreed to subscribe for new Ordinary Shares at the Issue Price (the "Participating Directors") totalling approximately £538,997. The number of Ordinary Shares subscribed for by each of the Participating Directors pursuant to the Fundraising, and their resulting shareholdings on Admission, are set out below:

 

 

As at the date of this announcement

 

Immediately following Admission

Director

Role

Ordinary
Shares
held

Percentage
of existing
share
capital
held

New
Ordinary
Shares
subscribed
for in the
Fundraising

Ordinary
Shares
held

Percentage
of enlarged
share
capital
held

Martin Glenn

Non-Executive Chairman

266,666

0.18%

16,806

283,472

0.18%

Jamie Brooke

Non-Executive Director

0

0.00%

16,806

16,806

0.01%

Frazer Thompson

Chief Executive Officer

2,222,867

1.52%

16,806

2,239,673

1.42%

Richard Woodhouse

Chief Financial Officer

929,951

0.64%

3,362

933,313

0.59%

Mark Harvey

Chief Commercial Officer

15,971

0.01%

3,362

19,333

0.01%

Nigel Wray*

Non-Executive Director

22,875,668

15.69%

756,302

23,631,970

15.02%

Stewart Gilliland

Non-Executive Director

258,875

0.18%

42,016

300,891

0.19%

Samantha Wren**

Non-Executive Director

0

0.00%

33,612

33,612

0.02%

Selina Emeny

Non-Executive Director

0

0.00%

16,806

16,806

0.01%

*Of the above totals 20,439,269 Ordinary shares as at date of this announcement and 21,195,571 Ordinary Shares immediately following admission are held by family trusts in which Nigel Wray has a non-beneficial interest. The balance of Ordinary Shares represents Nigel Wray’s beneficial holding.

** Samantha Wren is CEO of IPGL Limited

Related Party Transactions

  • The participation of each of the Participating Directors in the Fundraising constitute related party transactions for the purposes of Rule 4.6 of the AQSE Growth Market Apex Rulebook ("AQSE Rules").
  • IPGL Limited, the family office of Michael Spencer, subscribed for 1,489,914 new Ordinary Shares in the Placing, equating to £886,499 at the Issue Price. As a substantial shareholder in the Company, the participation of IPGL Limited in the Fundraising constitutes a related party transaction for the purposes of Rule 4.6 of the AQSE Rules.

- ENDS -

Contact

Chapel Down Group plc

 

01580 763 033

Frazer Thompson

Chief Executive

Richard Woodhouse

Finance Director

 

 

 

finnCap Ltd

 

020 7220 0500

Simon Hicks

Corporate Finance

Tim Redfern

ECM

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Frazer Thompson

2.

Reason for the Notification

a)

Position/status

Chief Executive

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

16,806

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

5.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Martin Glenn

6.

Reason for the Notification

a)

Position/status

Non-Executive Chairman

b)

Initial notification/Amendment

Initial notification

7.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

8.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

16,806

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

9.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Brooke

10.

Reason for the Notification

a)

Position/status

Non-Executive Director

b)

Initial notification/Amendment

Initial notification

11.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

12.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

16,806

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

13.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Harvey

14.

Reason for the Notification

a)

Position/status

Chief Commercial Officer

b)

Initial notification/Amendment

Initial notification

15.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

16.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

   

3,362

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

17.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stewart Gilliand

18.

Reason for the Notification

a)

Position/status

Non-Executive Director

b)

Initial notification/Amendment

Initial notification

19.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

20.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

   

42,016

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

21.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Samantha Wren

22.

Reason for the Notification

a)

Position/status

Non-Executive Director

b)

Initial notification/Amendment

Initial notification

23.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

24.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

   

33,612

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

25.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Selina Emeny

26.

Reason for the Notification

a)

Position/status

Chief Executive

b)

Initial notification/Amendment

Initial notification

27.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

28.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

   

16,806

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

29.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

RBC Trustees (Jersey) Limited PO608

30.

Reason for the Notification

a)

Position/status

PCA of Nigel Wray, Non-Executive Director

b)

Initial notification/Amendment

Initial notification

31.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

32.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

   

756,302

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

33.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

IPGL Limited

34.

Reason for the Notification

a)

Position/status

PCA of Samantha Wren, Non-Executive Director

b)

Initial notification/Amendment

Initial notification

35.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

36.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Volume

Price

   

1,489,914

59.5p

d)

Aggregated information:

  • Aggregated volume
  • Price

See 4(c) above

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Aquis Exchange

 

Chapel Down Group plc

Source: Chapel Down Group plc