REG - East Imperial PLC - Placing and year-end update

East ImperialAnnouncement

13/01/2022 07:05

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RNS Number : 3332Y  East Imperial PLC  13 January 2022

 

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PURSUANT TO AN APPLICABLE EXEMPTION

 

13 January 2022

East Imperial plc (the "Company")

Placing, year end update and PDMR dealing

 

East Imperial, the global purveyor of ultra-premium beverages, is pleased to
announce the conditional placing of 32,398,899 shares at 10.5 pence per share
(the "Placing"), raising gross proceeds of approximately £3.4 million to
support the Company's intentions to accelerate its expansion.

 

The Company also provides a year end update and announces a 60% increase in
2021 revenues compared to the prior year, based on unaudited figures.

 

The Placing

 

East Imperial has executed placing letters with institutional and other
investors and certain of the Company's directors, to place 32,398,899 shares
("Placing Shares") at 10.5 pence per share, raising gross proceeds of
£3,401,884.40. The Placing was the result of demand for shares from a number
of institutions including Aviva Investors, who subscribed for 9 million
shares, taking their total beneficial shareholding in the Company to
approximately 26.1 million, or 7.7 percent.

 

The Placing is conditional on Admission (defined below). Applications will be
made to the Financial Conduct Authority ("FCA") for the Placing Shares to be
admitted to the Standard Segment of the Official List of the FCA (the
"Official List") and to London Stock Exchange plc (the "LSE") for the Placing
Shares to be admitted to trading on the LSE's Main Market for listed
securities ("Admission"). It is expected that Admission will become effective,
and trading in the Placing Shares will commence, on or around 21 January 2022.

 

The Company intends to use the proceeds from the Placing to accelerate the
expansion of the business, in particular across the US market, the key
strategic priority for the Board.

 

Following admission of the Placing Shares, the Company's issued ordinary share
capital will comprise 338,171,013 ordinary shares, none of which are held in
treasury. Therefore, the total number of ordinary shares with voting rights in
East Imperial following admission will be 338,171,013.

 

The above figure of 338,171,013 may be used by shareholders 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.

 

PDMR Shareholding

 

Three of the Company's directors, Alistair McGeorge, Chairman, Colin Henry,
NED and Charlie Caminada, NED, have subscribed for a total of  1,282, 380
shares as follows:

 

 

                    Subscription total          Number of new ordinary shares  Total number of new shares to be held on Admission
 Alistair McGeorge  £        49,999.95          476,190                        476,190
 Colin Henry        £        49,999.95          476,190                        476,190
 Charles Caminada*  £        34,650.00          330,000                        330,000

 

* Charles Caminada is party to an option agreement with the Company dated 19
July 2021, pursuant to which he has an option to acquire up to 300,000 shares.

 

The notifications below, made in accordance with the Market Abuse Regulation,
provide further details of the persons discharging managerial
responsibilities.

 

Year-end update

 

East Imperial is pleased to report significant operational and financial
progress over the course of 2021, despite the impact of Covid-19 on the
Company's on-trade business and more recently the impact from global supply
chain problems which have impacted many businesses.

 

The Company's 2021 annual revenues were up 60% (based on unaudited figures)
compared with the prior year and back at the level achieved in 2019 prior to
the impact of COVID-19. Importantly, the Company also benefited from a more
diversified revenue stream in 2021 following strong progress implementing a
multi-channel strategy.

 

The Board is confident of delivering further progress this year, both on-trade
and off-trade, and in particular through further geographic expansion in the
US and other key markets.

 

Tony Burt, CEO of East Imperial, said:

 

"I'm extremely pleased with the progress made last year despite the Covid-19
and supply chain challenges and in particular a return to pre-Covid levels of
sales reflecting a number of new supply agreements and further global
expansion. We have a huge opportunity ahead of us and I'm confident that we
will deliver significant further progress this year.

 

"I'm also delighted to welcome a number of new investors who share our
confidence in the prospects for the business and want to be a part of our
success. We will be using the funds raised to capitalise on the near-term
opportunities ahead of us, in particular to accelerate our growth in the
strategically important US market."

 

East Imperial expects to announce its full-year results for the year ended 31
December 2021 in April 2022.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 1.         Details of the person discharging managerial
 responsibilities / person closely associated with them ('PCA')
 (a)                Name                                                                      Alistair McGeorge
 (b)                Reason for the notification                                               Notification of person discharging managerial responsibilities (Chairperson of

                                                                         the Board and Non Executive Director of the Company)

 (c)                The name of the relevant issuer or emission allowance market participant  East Imperial plc
 (d)                A description and the identifier of the financial instrument              Ordinary shares of 1 pence each

                    Identification code:

                                                                                              ISIN: GB00BMZ1ND56
 (e)                The nature of the transaction(s)                                          Acquisition of shares pursuant to a placing.
 (f)                The date and place of the transaction                                     Placing letter was executed on 12 January 2022 and shares are due to be
                                                                                              admitted to trading on or around 21 January 2022

                                                                                              Outside of a trading venue
 (g)                The price and volume of the transaction

Price       Volume
                                                                                              10.5 pence  476,190

 

 

 2.         Details of the person discharging managerial
 responsibilities / person closely associated with them ('PCA')
 (a)                Name                                                                      Colin Henry
 (b)                Reason for the notification                                               Notification of person discharging managerial responsibilities (Non Executive

                                                                         Director of the Company)

 (c)                The name of the relevant issuer or emission allowance market participant  East Imperial plc
 (d)                A description and the identifier of the financial instrument              Ordinary shares of 1 pence each

                    Identification code:

                                                                                              ISIN: GB00BMZ1ND56
 (e)                The nature of the transaction(s)                                          Acquisition of shares pursuant to a placing.
 (f)                The date and place of the transaction                                     Placing letter was executed on 12 January 2022 and shares are due to be
                                                                                              admitted to trading on or around 21 January 2022

                                                                                              Outside of a trading venue
 (g)                The price and volume of the transaction

Price       Volume
                                                                                              10.5 pence  476,190

 

 

 3.         Details of the person discharging managerial
 responsibilities / person closely associated with them ('PCA')
 (a)                Name                                                                      Charles Caminada
 (b)                Reason for the notification                                               Notification of person discharging managerial responsibilities (Non Executive

                                                                         Director of the Company)

 (c)                The name of the relevant issuer or emission allowance market participant  East Imperial plc
 (d)                A description and the identifier of the financial instrument              Ordinary shares of 1pence each

                    Identification code:

                                                                                              ISIN: GB00BMZ1ND56
 (e)                The nature of the transaction(s)                                          Acquisition of shares pursuant to a placing.
 (f)                The date and place of the transaction                                     Placing letter was executed on 12 January 2022 and shares are due to be
                                                                                              admitted to trading on or around 21 January 2022

                                                                                              Outside of a trading venue
 (g)                The price and volume of the transaction

Price       Volume
                                                                                              10.5 pence  330,000

 

Ends

 

Enquiries

 

Optiva Securities Limited

Robert Emmet +44 (0) 20 3981 4173

 

MHP Communications

Peter Hewer         +44 (0) 770 9326 261

Rachel Mann        +44 (0) 758 5301 464

eastimperial@mhpc.com (mailto:eastimperial@mhpc.com)

 

 

 

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