THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OF AMERICA (THE "UNITED STATES" OR THE "US"), AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

FOR IMMEDIATE RELEASE

Chapel Down Group plc
("Chapel Down" or the "Company" or the "Group")
EPIC: CDGP

Admission to trading on AIM and first day of dealings

Chapel Down, England's leading and largest winemaker, is pleased to announce the admission of its entire issued share capital, being 159,253,885 ordinary shares of 5 pence each ("Ordinary Shares") to trading on AIM, a market operated by the London Stock Exchange plc ("Admission"). 

Admission will take place and dealings in the Ordinary Shares will commence at 8.00 a.m. today under the same TIDM and ISIN of CDGP and GB0032706284 respectively. Cancellation of the Company's Ordinary Shares on the Apex Segment of the AQSE Growth Market will take place simultaneously with Admission.

Further information in relation to Admission can be found in the Company's announcement from 9 November 2023. An appendix to the Schedule One, as well as information required pursuant to AIM Rule 26, is available on the Company's website at www.chapeldown.com/pages/investors.

Information on the Company

Chapel Down is England's leading and largest wine producer with an award-winning range of sparkling and still wines, under the Chapel Down brand. The Company owns, leases and sources from 1,023 acres of vineyards in South East England, of which 750 acres are fully productive, making it the largest wine producer in the UK. The Company sold 1.4 million bottles of wine in 2022, generating revenue from off-trade, on-trade, export, and direct to consumer e-commerce and retail sales.

The Company continues to build its status as the leading brand of the English wine industry, with awareness of 37% as at June 2023, supported by its partnerships (including with the England and Wales Cricket Board and Ascot Racecourse) and events. The Company also welcomes approximately 60,000 visitors a year for winery tours and tastings at its brand home and retail experience in Tenterden, Kent.

Andrew Carter, Chief Executive Officer of Chapel Down, commented:

 "We are pleased to announce Chapel Down's admission to trading on AIM, a move which reflects the maturity of the business and the ambitious growth plan we are committed to delivering in the years ahead. Chapel Down has greatly benefitted from its AQSE listing over the past 20 years as it has grown from a start-up in an embryonic industry into England's leading and largest winemaker with a consistent track record of profitable growth.

"We believe that a move to AIM will attract a wider pool of investors to participate in Chapel Down's growth as the leading producer in the world's newest global wine region and as we continue to pursue our well progressed and fully funded plan to double the size of the business in the five years to 2026. In November we confirmed a record 2023 harvest, with tonnage 86% higher than 2022 and 75% higher than the previous record posted in 2018, which is creating great excitement within our business, and will underpin our strategic ambition to double the size of the business by 2026 as we continue to build Chapel Down's position as England's number one and most celebrated winemaker."

Issue of Equity and Total Voting Rights

Further to the announcement from 9 November 2023, and pursuant to the Reorganisation, the Company will issue 12,084,900 new Ordinary Shares to the Growth Shareholders, based on the Company's closing middle market share price of 53 pence yesterday, being the last trading day prior to Admission. Application has been made to the London Stock Exchange for the 12,084,900 new Ordinary Shares to be admitted to trading on AIM and admission is expected to occur at 8.00 a.m. on 8 December 2023 ("Second Admission"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

As set out in the announcement dated 9 November 2023 and pursuant to the Reorganisation, 158 Growth Shares were acquired by Rob Smith on 6 December 2023, as nominee for the Company. As noted in the Schedule One appendix dated 9 November 2023 and in accordance with s.662(1)(d) of the Act, these 158 Growth Shares have now been cancelled. Following the Reorganisation, the Company now has one class of share, being ordinary shares.

Following Second Admission, the Company's total issued share capital will consist of 171,338,785 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company will be 171,338,785 .

The above figure of 171,338,785 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.

Capitalised terms used but not defined in this announcement have the meaning set out in the announcement dated 9 November 2023.

Contacts

About Chapel Down

Chapel Down is England's leading wine producer with an award-winning range of sparkling and still wines. Based in Kent, in the heart of the Garden of England, Chapel Down produces wines of the highest quality and which the winemaker believes offer the best expression of England.