Gunsynd PLC Investment in Human Brands (6148Z)
18 Dezember 2017 - 10:00AM
UK Regulatory
TIDMGUN
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 GBP130,000 in Human Brands plc ("Human Brands"), a US
based premium spirits company, on the following terms:
-- GBP130,000 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
24(th) 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
END
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