Announcement
Gunsynd PLC : Investment in Human Brands
RNS Number : 6148Z
Gunsynd PLC
18 December 2017
Gunsynd plc
("Gunsynd" or the "Company")
Investment in Human Brands
Gunsynd 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:
· £130,000 invested by way of convertible loan note ("Loan Note");
· The Loan Note will accrue interest at 9% per annum;
· 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;
· 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
· 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.
About Human Brands
Human 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.
Hamish Harris, the Company's Executive Chairman, commented:
"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 newsflow in Q1 next year on many fronts not least on Oyster Oil and Gas and Sunshine Mineral but also on Horse Hill Developments and Brazil Tungsten holdings, all of which we are very much looking forward to."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Gunsynd accept responsibility for this announcement.
For further information please contact:
|
Gunsynd plc Hamish Harris
|
+44 20 7440 0640 |
|
Cairn Financial Advisers LLP James Caithie / Sandy Jamieson |
+44 20 7213 0880
|
|
Peterhouse Corporate Finance Lucy Williams |
+44 20 7469 0930
|
This information is provided by RNS
The company news service from the London Stock Exchange
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