Business
£765k fundraising, RPTs, Notice of Meeting
£765k fundraising, RPTs, Notice of Meeting.
About this update from Distil Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nDistil PLC\nPlacing and Subscription for, in aggregate, 218,571,428 new Ordinary Shares at 0.35 pence per share Related Party Transactions; and Notice of General Meeting\n \nMajority of fundraising committed from three leading investors: Grain GmbH, BERO SAS and Dr Graham Cooley\n \nTransaction Highlights:\n· Placing and Subscription to raise £0.765 million (before expenses) through the issue of 218,571,428 new Ordinary Shares at the Issue Price\n· Grain GmbH, which is connected to Roland Grain, a non-executive director of the Company, has agreed to invest £200,000 and substantial shareholder BERO SAS, which is associated with Baron Eric de Rothschild, has agreed to invest £120,000 for, in aggregate, 91,428,571 Ordinary Shares in the Subscription\n· Dr Graham Cooley is investing £200,000 for 57,142,857 Ordinary Shares in the Placing\n \nDistil plc (AIM:DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, TRØVE Botanical Vodka and Blavod Black Vodka, is pleased to announce it has conditionally raised £0.765 million (before expenses) through a Placing and Subscription (together, the \"Fundraising\").\nAs previously reported, Distil has undergone a remodelling of its distribution model, as it moved away its distribution to the on-trade and independent sectors to Marussia Beverages, whilst handling sales and marketing to our major UK retail customers directly, giving Distil control over this relationship.\nThe Fundraising will provide working capital to enable Distil to service customers with stock at the busiest time for the business and allow it to support its growth plan to the end of March 2025. Plans include the opening of the Blackwoods gin experience at Ardgowan, consumer brand activation at key events, development of premium line-extensions, limited-edition bottlings, and the launch of a new-to-world brand in an emerging category.\nThe Company has conditionally placed through its bro...