TIDMGUS
RNS Number : 2277K
Gusbourne PLC
20 December 2022
20 December 2022
Gusbourne Plc
("Gusbourne", the "Company" or the "Group")
Grant of Share Options
Gusbourne Plc (AIM: GUS) (the 'Company'), which produces and
distributes a range of high quality and award-winning English
sparkling and still wines, today announces that it has introduced a
new Performance Share Plan ("PSP") and Company Share Option Plan
("CSOP"). Under the PSP and CSOP, options ("PSP Options" and "CSOP
Options" as applicable) over ordinary shares of 1 pence each in the
Company ("Shares") may be granted at the discretion of the
Remuneration Committee.
The Company has today granted PSP Options to Charlie Holland
(Chief Wine Maker and CEO) and Katharine Berry (CFO) as detailed
below. Katharine is expected to be appointed to the board in the
New Year. Vesting of the PSP Options is subject to the following
performance criterion: the volume-weighted average mid-market
closing price of a Share as derived from the AIM Appendix to the
Daily Official List ("VWAP") over a period of forty five business
days is equal to or greater than the agreed vesting price (
"Vesting Price") as specified in the table below.
In the special case of Charlie Holland, in recognition of his
long and valued service to the Company since 2013, 50% of his PSP
Options will vest and be exercisable on or after the second
anniversary of the date of grant, subject to the Vesting Price
being met
The performance period for PSP Options granted under the PSP
will typically be four years commencing from the date of grant of
the relevant PSP Options. Except in the event of a change of
control of the Company and in certain 'good leaver' scenarios, no
PSP Options may be exercised prior to the expiry of the performance
period and unless the relevant performance criterion is met. PSP
Options shall be granted under the PSP with an exercise price of 1
pence per Share (being equal to the nominal value of a Share).
Shares acquired on exercise of PSP Options shall be subject to a
two-year holding period.
No. of PSP
Name Position Options Vesting Vesting
granted Price years
in pence
----------------- ---------------------
Charlie Holland Chief Wine Maker 237,931 125.0 2
and Chief Executive
Officer 237,931 150.0 4
475,862
--------------------------------------- ----------- ---------
Katharine Chief Financial
Berry Officer 258,621 150.0 4
The Company has also granted each of Charlie Holland, Katherine
Berry, Jon Pollard (a director of the Company) and two other senior
executives of the Company, market value CSOP Options over 41,958
Shares with an exercise price of 71.5p per Share (representing an
aggregate market value at the date of grant of GBP30,000). Vesting
of the CSOP Option is subject to the following performance
criterion: the VWAP over a period of forty five business days is
equal to or greater than 100 pence.
The performance period of the CSOP Options shall be three years
from the date of grant. Except in the event of a change of control
of the Company and in certain 'good leaver' scenarios, no CSOP
Options may be exercised prior to the expiry of the performance
period and unless the performance criterion is met. Shares acquired
on exercise of the CSOP Options shall be subject to a holding
period of one year.
The total number PSP and CSOP Options granted today amounts to
944,273.
For further information contact:
Gusbourne Plc
Charlie Holland +44 (0)12 3375 8666
Panmure Gordon (UK) Limited (Nomad and Sole Broker)
Oliver Cardigan + 44 (0)20 7886 2500
Hugh Rich
Note: This and other press releases are available at the Company's website: www.gusbourneplc.com
Note to Editors
Gusbourne produces and distributes a range of high quality and
award-winning vintage English sparkling wines from grapes grown in
its own vineyards in Kent and West Sussex.
The Gusbourne business was founded by Andrew Weeber in 2004 with
the first vineyard plantings at Appledore in Kent. The first wines
were released in 2010 to critical acclaim. Following additional
vineyard plantings in 2013 and 2015 in both Kent and West Sussex,
Gusbourne now has 231 acres of mature vineyards. The NEST visitor
centre was opened next to the winery in Appledore in 2017,
providing tours, tastings and a direct outlet for our wines.
Right from the beginning, Gusbourne's intention has always been
to produce the finest English sparkling wines. Starting with
carefully chosen sites, we use best practice in establishing and
maintaining the vineyards and conduct green harvests to ensure we
achieve the highest quality grapes for each vintage. A quest for
excellence is at the heart of everything we do. We blind taste
hundreds of samples before finalising our blends and even after the
wines are bottled, they spend extended time on their lees to add
depth and flavour. Once disgorged, extra cork ageing further
enhances complexity. Our winemaking process remains traditional,
but one that is open to innovation where appropriate. It takes four
years to bring a vineyard into full production and a further four
years to transform those grapes into Gusbourne's premium sparkling
wine.
We are one of England's most awarded wine producers. Highlights
include:
-- Three times winner of the International Wine & Spirits
Challenge (IWSC) 'English Wine Producer of the Year', having won
the award in 2013, 2015 and 2017- a unique achievement.
-- Back-to-back winner of 'Estate Winery of the Year' at the
Wine GB Competition in 2021 and 2022.
-- Trophy for 'Best Vintage English Sparkling Wine' at the 2022
International Wine Challenge in May 2022 , along with eleven other
medals.
-- Thirteen medals, including two golds at the Decanter World Wine Award in June 2022.
-- A Judges' Selection and Platinum award at the Texsom Awards in June 2022.
-- Shortlisted for 'Best Sparkling Wine Producer' at the
International Wine and Spirits Competition in July 2022.
-- Trophies for 'Best English Still Red Wine', 'Best English
Still White Wine' and 'Best English Still Wine' at the Wine GB
awards in July 2022.
-- Five gold medals at the Champagne and Sparkling Wine World Championships in September 2022.
-- Blanc de Noirs and Blanc de Blancs of the Year in the England
2022 Special Report by Tim Atkin MW in October 2022.
-- Two Editor's Choice listings in Wine Enthusiast and four
wines scoring over 94 points in October 2022.
Gusbourne's luxury brand enjoys premium price positioning and is
distributed in the finest establishments both in the UK and abroad.
Our wines can be found in leading luxury retailers, restaurants,
hotels and stockists, always being aware that where we are says a
lot about who we are.
Gusbourne also overwhelmingly dominates the list of English
Sparkling wines traded on Liv-Ex and its Pinot Noir remains the
only English still wine to be traded on the investment
platform.
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement,
this information is now considered to be in the public domain.
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END
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