Business
Investment in Human Brands
Investment in Human Brands.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 6148Z Gunsynd PLC 18 December 2017 \n\nGunsynd plc\n \n(\"Gunsynd\" or the \"Company\")\n \nInvestment in Human Brands\n \nGunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce that it has invested £130,000 in Human Brands plc (\"Human Brands\"), a US based premium spirits company, on the following terms:\n \n· £130,000 invested by way of convertible loan note (\"Loan Note\");\n \n· The Loan Note will accrue interest at 9% per annum;\n \n· The repayment of the Loan Note is due on the 30th day of the 24th month after the date of issue of this note (\"Repayment Date\"). The payment at maturity will include the principal amount of the Loan Note plus all accrued interest;\n \n· While currently not quoted on any exchange, Human Brands intends to seek admission to trading on an exchange during 2018. The Company shall be entitled at any stage after the date falling thirty (30) days after Human Brands has achieved trading status on a recognised securities exchange and prior to the Repayment Date to convert all or any part of the Loan Note (and any outstanding interest thereon) into ordinary shares in the capital of Human Brands; and\n \n· The Loan Note shall be converted into ordinary shares of Human Brands at a price equal to a 55% discount to the three day average volume weighted average price of the shares as recorded immediately prior to the conversion date.\n \n \nAbout Human Brands\nHuman Brands is a private US company that produces, distributes and markets premium spirits, wine and beer in the USA and Asia. Their two key products, which they both own the brand of and distribute, are an aged tequila (Copa Imperial Tequila) and a Japanese Whiskey (Shinju Whiskey) which are in two of what the Directors believe to be the fastest growing areas of the US spirits industry. In the year ended 31 December 2016, Human Brands had turnover of $1.04m and profit after tax of $90k.\n \n Hamish Harris, the Company's Executive Chairman, commented:\n\"We are very pleased to have been able to subscribe on very attractive price in to a company well positioned in the growth areas of the premium spirits industry. We expect to have n...