REG - Chill Brands Group - Result of Open Offer

Chill BrandsAnnouncement

17/06/2022 14:45

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RNS Number : 3338P  Chill Brands Group PLC  17 June 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR"), AS AMENDED BY REGULATION 11
OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

17 June 2022

Chill Brands Group plc

("Chill Brands" or the "Company")

Result of Open Offer

 

(London, UK, 17 June, 2022) Chill Brands, the international consumer packaged
goods company, is pleased to announce the result of the open offer published
on 31 May 2022 (the "Open Offer").

The Company has received valid applications for a total of 1,768,345 Open
Offer units at a price of 12 pence per unit (the "Open Offer Units"), raising
a total of £212,201.40 (before expenses).  Each Open Offer Unit consists of
one new Ordinary Share of £0.01 each ("Open Offer Share") and five unsecured
convertible loan notes with a principal amount of £0.02 each ("Open Offer
Loan Notes"). The valid applications are for 938,122 Open Offer Units under
the eligible shareholders' Basic Entitlements and for 830,223 Open Offer Units
under the Excess Application Facility. Full details of the Open Offer
including defined terms used above can be found in the Open Offer document
("Open Offer Document"), a copy of which can be viewed on the Company's
website (https://chillbrandsgroup.com/investor-relations/corporate-documents/)
.

Callum Sommerton, Chill Brands' Chief Executive Officer, said: "We're
delighted with the result of this Open Offer and are grateful to our
shareholders for their continued support. Amidst a very challenging market,
Chill Brands is well-capitalised and focused on sustainable growth.

The proceeds of the Open Offer will be put to good use in further expanding
our brands through strategic marketing initiatives and the continued
development of our sites. Consumers are increasingly looking for new ways to
chill during these tough times and it is our intention to reach as many of
them as possible. I look forward to providing further updates in due
course."

Admission and Total Voting Rights

The Open Offer Shares will be admitted to trading on the Main Market of the
London Stock Exchange and to listing in the Standard Segment of the Financial
Conduct Authority's ("FCA") Official List, with effect from 21 June 2022
("Admission"). This represents a change to the indicative timetable in the
Open Offer Document, and the Board and the Company have determined that the
time by which Admission should take place and the Open Offer becomes
unconditional is 8.00 a.m. on 21 June 2022.

On Admission, the Company will have 243,605,078 Ordinary Shares in issue, each
with one voting right.  There are no shares held in treasury.  Therefore,
the Company's total number of Ordinary Shares and voting rights will be
243,605,078 and this figure may be used by shareholders from Admission as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

-ENDS-

About Chill Brands Group

Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international company
focused on the development, production, and distribution of best-in-class
hemp-derived CBD products, tobacco alternatives and other consumer packaged
goods (CPG) products. The Company operates primarily in the US, where its
products are distributed online and via some of the nation's most recognizable
convenience retail outlets. The Group's strategy is anchored around lifestyle
marketing that is designed to enhance the popularity of its products,
channelling visitors to its landmark chill.com website.

Publication on website

A copy of this announcement is also available on the Company's website at
(http://www.chillbrandsgroup.com/) http://www.chillbrandsgroup.com
(http://www.chillbrandsgroup.com/)

Media enquiries:

 Chill Brands Group plc                                  contact@chillbrandsgroup.com
 Allenby Capital Limited (Financial Adviser and Broker)  +44 (0) 20 3328 5656
 Nick Harriss/Nick Naylor (Corporate Finance)

Kelly Gardiner (Equity Sales)

 

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