NEX Exchange (NEXX)
NEX Exchange: Application for Admission - The British Honey Company plc
02-March-2020 / 11:32 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
RULE 23 - PROFORMA PRE-ADMISSION ANNOUNCEMENT
ANNOUNCEMENT OF APPLICATION FOR ADMISSION TO THE NEX EXCHANGE
GROWTH MARKET
APPLICANT NAME:
The British Honey Company plc
APPLICANT REGISTERED OFFICE, PRINCIPLE PLACE OF BUSINESS (IF
DIFFERENT) AND TELEPHONE NUMBER:
Registered: Unit 3 Vista Place Coy Pond Business Park, Ingworth
Road, Poole, Dorset, BH12 1JY
Place of business: Unit 32a Wornal Park, Menmarsh Road,
Worminghall HP18 9PH
Tel: 0800 3687612
DIRECTORS AND PROPOSED DIRECTORS (IF APPLICABLE):
The Rt Hon Sir Hugo Swire KCMG (Non-executive Chairman)
Michael Williams (Chief Executive Officer)
Alistair Wallace (Finance Director)
Robert Porter-Smith (Executive Director)
Wafic Sa?d (Non-executive Director)
Philip Seers (Non-executive Director)
Guifang Luo (Non-executive Director)
Martin Riley (Independent Non-executive Director)
APPLICANT SECTOR:
Beverages
DESCRIPTION OF THE APPLICANT AND ITS ACTIVITIES:
The British Honey Company is a UK based producer of spirits,
honey and jams. It began trading in November 2014 initially
focused on honey production and, later, expanding into honey
infused spirits. The Company currently produces 13 honey
products and 16 spirits including gin, vodka, rum and whiskey,
many of which have won awards at home and abroad. These products
are produced and stored in the Company's state of the art
facilities in Worminghall Buckinghamshire.
The Company's facilities provide it with a scalable platform
from which the Directors plan to expand operations through
organic growth and acquisition both in the UK and abroad. The
Company has invested significantly in its infrastructure which
includes, inter alia, a fully operational distillery with an
electronic, computer-controlled, 1,000-litre capacity still and
a bottling facility capable of processing the equivalent of
approximately 1.5 million bottles a year. Further, the Company
has developed proprietary software to manage the manufacturing
process and sales which allows the Company, among other things,
to trace single ingredients through to individual bottles of
spirits or jars of honey. This approach has earned the Company
accreditations from the Soil Association, for organic food
certification, and from SALSA, for food safety. The Directors
believe SALSA certification has only been awarded to
approximately 39 producers of gin, vodka and whiskey in the UK.
As well as producing Keepr's spirits, the distillery is an
accredited, HMRC compliant, bonded warehouse for the storage of
its own and third-party products. The Directors believe this
provides the Company with significant financial and logistical
advantages over many craft distilleries and allows it to provide
an end-to-end distillation and bottling service to third party
brands which it can do so within its existing spare capacity.
NAME OF NEX EXCHANGE CORPORATE ADVISER and BROKER:
Cairn Financial Advisers LLP (Corporate Adviser)
Stanford Capital Partners Ltd (Broker)
NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED:
[?] ordinary shares of 10 pence each
SECURITIES IN PUBLIC HANDS AS A PERCENTAGE OF THE TOTAL NUMBER
OF SECURITIES IN ISSUE (excluding securities held in treasury):
Approximately [35]%
SHAREHOLDERS HOLDING MORE THAN FIVE PER CENT OF THE APPLICANT'S
SHARE CAPITAL OR VOTING RIGHTS PRE- AND POST-ADMISSION:
Pre-admission:
Shareholder No. of Percentage of issued
Ordinary ordinary share
Shares capital
Cottisford Ltd 1,499,604 28.93%
Robert Porter-Smith1 865,000 16.68%
Michael Williams2 570,630 11.01%
1) Robert Porter-Smith's shareholding includes shares held by
his wife and family.
2) Michael Williams' shareholding includes that of his wife,
his personal holdings and holdings held by the Brackenwood
Pension Fund and Just Results Ltd.
Post-admission:
Shareholder No. of Percentage of
Ordinary issued ordinary
Shares share capital
Cottisford Ltd [TBA] [TBA]%
Robert Porter-Smith1 [TBA] [TBA]%
Michael Williams2 [TBA] [TBA]%
BGL Reads Trust3 [TBA] [TBA]%
3) Robert Porter-Smith's shareholding includes shares held by
his wife and family.
4) Michael Williams' shareholding includes that of his wife,
his personal holdings and holdings held by the Brackenwood
Pension Fund and Just Results Ltd.
TIMETABLE FOR ANY OFFER OF TRANSFERRABLE SECURITIES TO THE
PUBLIC:
None
THE EXPECTED ADMISSION DATE:
16 March 2020
WEBSITE ADDRESS WHERE INVESTOR INFORMATION WILL BE AVAILABLE FOR
INSPECTION:
https://britishhoney.co.uk/ [1]
In respect of a fast-track applicant, the following information
should also be included:
NAME OF MARKET ON WHICH THE APPLICANT'S SECURITIES ARE CURRENTLY
TRADED:
N/A
ARRANGEMENTS FOR THE SETTLEMENT OF TRANSACTIONS IN THE
APPLICANT'S SECURITIES:
N/A
DETAILS OF ANY LOCK-IN ARRANGEMENTS:
N/A
DETAILS OF THE LEGAL OR REGULATORY REQUIREMENTS IN THE
APPLICANT'S HOME COUNTRY REGARDING THE CONDUCT OF TAKEOVERS AND
THE ACQUISITION OF SIGNIFICANT VOTING RIGHTS TO WHICH THE
APPLICANT IS SUBJECT:
N/A
In respect of an update to a prior application announcement, the
date of the original announcement should also be disclosed as
follows:
UPDATE TO A PRIOR APPLICATION ANNOUNCEMENT RELEASED ON:
N/A
Category Code: MSCM
TIDM: NEXX
LEI Code: 213800AMGNBSOCOSDN11
Sequence No.: 49802
EQS News ID: 987247
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=889f99c2070bd294cbbd262e356cb2fa&application_id=987247&site_id=vwd&application_name=news
(END) Dow Jones Newswires
March 02, 2020 06:32 ET (11:32 GMT)
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