Innis & Gunn has announced that it will be extending availability of its four-year, initial fixed-term mini-bond, for a further month. In order to satisfy demand, the independent craft brewer will extend applications for the mini-bond, which offers investors an interest rate of 7.25% gross interest per annum, until 16 July 2015.
Alternatively, or in addition to, UK investors can opt for the BeerBucks BeerBond™, which offers an equivalent of 9% gross interest rate per annum, with the return taken in the form of ‘BeerBucks’, which can be redeemed against beer at the Innis & Gunn online shop. Applications for both mini-bonds are available for investments from £500.(1)
Innis & Gunn announced the launch of the mini-bond, which has to date raised around £2.5m, to fund the creation of a state-of-the-art brewery, bottling line and barrel store in Scotland.
Dougal Gunn Sharp, founder and CEO of Innis & Gunn, said: “We have been delighted with the response and the levels of investment coming in. We set out to raise £3m and we’re almost there. We always wanted this project to bring us closer to our fans and the wider craft beer community and it absolutely has – the feedback we have had has been phenomenal.
“Over the last week, we’ve seen surging levels of interest from a spread of investors and as a result have taken the decision to keep the mini-bond open for a further month. We’re learning as we go with the launch of this mini-bond and the mix of applicants has been of real interest to us – we’ve attracted more than 840 individuals, from Innis & Gunn ‘fan-vestors’ to well-seasoned investors, predominantly in Scotland and South England. Investment levels have ranged from the entry level £500 to over £100,000, which indicates we’re attracting an interesting cross-section of people.”
All successful applicants who applied prior to the original application deadline (1pm on 16th June 2015) will have Bonds issued as per the timetable outlined in the Invitation Document to ensure they suffer no delay or loss of interest as a result of the extension.
Since its foundation in 2003, Innis & Gunn has grown to become a highly successful international business, with an annual turnover of £11.8 million in 2014 – up from £10.5 million in 2013. Last year Innis & Gunn sold over 20 million bottles of beer and is the second biggest supplier of craft beer to the UK off-trade(2).
Innis & Gunn is currently in advanced negotiations to buy a piece of land in South East Scotland on which to build and the development of the new brewery is expected to create up to an additional 35 jobs over the next four years.
For further details on the Bond, please visit www.innisandgunnbeerbond.com.
For further information, please contact:
- Jenny Crossland on 020 3326 9911 / 07766 567 297 / email@example.com
- David Stewart on 020 3326 9910 / 07971 182 813 / firstname.lastname@example.org
- Barbara Kaiser on 020 3326 9902 / 07833 225 079 / email@example.com
Notes to editors:
(1) The BeerBond™ is open to individuals, aged 18+, who are resident in the UK, or companies, trusts and charities which are resident in the UK.
(2) IRI: Off-trade market overview, 28 March 2015.
About Innis & Gunn:
Established in 2003, Innis & Gunn has won a multitude of awards for its unique range of oak-aged beers and its recently-launched unoaked Scottish lager. With a turnover of £11.8 million in 2014 and 30% average annual growth over the last 2 years, the brewer has shown it has as good a nose for business as it does for beer.
Available in over 20 countries, Innis & Gunn is the second-biggest supplier of specialty beer to the UK off-trade, the top imported Ale brand in Sweden and the best-selling British Bottled Beer brand in Canada. The company employs over 50 people globally and has been recognised for its contribution to industry by winning the IGD Outstanding Small Business of the Year Award in 2013 and collecting two Queen’s Awards for Enterprise in International Trade.
The BeerBonds™ will be issued by Beer Bonds Plc, a Company incorporated in England and Wales with its registered office at 44 Southampton Buildings, London, WC2A 1AP. The information contained in this document has been approved as a financial promotion for the purposes of Section 21 of the Financial Services and Markets Act 2000 for UK publication by Grant Thornton UK LLP of 30 Finsbury Square, London, EC2P 2YU (FRN: 231791) which is authorised by the Financial Conduct Authority to conduct investment business. Before you subscribe for any BeerBonds™ you should make sure that you fully understand the risks which are set out in the Invitation Document and you should determine whether the investment is suitable for you on the basis of all the information contained in the Invitation Document. Specifically, BeerBonds™ are an unsecured debt of the Company and in the event that the Company becomes insolvent, you may lose some or all of your investment. If you are in any doubt about this information, the contents of the Invitation Document or the action you should take, you are strongly recommended to consult a professional financial adviser.
The Beerbond™ from Innis & Gunn
|Launch Date||Wednesday 29th April 2015|
|Closing Date||The BeerBond™ offer will be open for applications until 1pm on 16th July 2015. However, the offer may be closed if the target amount to be raised is reached before the end of this period.|
|Term Length||Four years (with the option for Bondholders to extend this four-year term by successive one-year periods).|
|How can investors apply||Online via www.innisandgunnbeerbond.com or by postBeerBonds™ Offer, Neville Registrars Limited, Neville House, 18 Laurel Lane, Halesowen, West Midlands B63 3DA.
For questions on how to complete the application form or submit payment for the BeerBond™, investors can call Neville Registrars on 0121 585 1131 during normal office hours.
|Eligibility||Individuals who are at least 18 years old at the time of application and who are resident in the UK, and companies, charities or trusts resident for tax purposes in the UK and/or not prevented by laws applicable to them from applying for, or holding, BeerBonds™.|
|Annual Investment Return||7.25% fixed (gross) interest per annum in cash;
9% fixed (gross) interest per annum in BeerBucks;
BeerBucks can be redeemed at Innis & Gunn online shophttp://shop.innisandgunn.com/
Investors will also be eligible for a 12.5% discount (gross rate) on all other purchases from the online shop;
Every investor will also, if they wish, have their name inscribed on the new brewery building.
|Investment Value||Minimum investment £500 (and thereafter in increments of £500);
No maximum investment.
|Tax Treatment||Both the cash interest and the BeerBucks are taxable on its face value, therefore tax will be deducted at the basic rate (currently 20%). Tax will be deducted from the cash or BeerBucks interest paid (as applicable). A Bondholder who is not normally subject to tax in the UK may be entitled to claim repayment of the tax withheld at the basic rate by Beer Bonds Plc from HM Revenue and Customs.|
|When will I know the value of the Bonds that I will receive subsequent to my application?||All applicants, whether successful or not, will be notified as to the number of BeerBonds™ they have been allocated.
|Self-Invested Personal Pension (SIPP) Schemes and Individual Saving Accounts (ISAs)||The BeerBond™ is suitable for SIPP schemes, but not for ISAs. However, applicants should seek advice as to whether the specific terms of their SIPP arrangements permit this type of investment.|
|Financial Service Compensation Scheme (FSCS)||The BeerBond™ is not protected from loss by the FSCS.|
|Who are the key professional advisers in connection with the BeerBond™?||Memery Crystal LLP have acted as lawyers to The Innis & Gunn Brewing Company Ltd and Beer Bonds Plc on the BeerBond™; including providing tax advice.
The BeerBond™ is being administered by Neville Registrars Limited; who are acting as receiving agent and registrar in respect of the BeerBond™.
Grant Thornton UK LLP has acted as FCA Authorised Person and has approved the Invitation Document and other documentation relating to the BeerBond™ as a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000.
|Further information||BeerBonds™ are not convertible into shares and the Bondholder does not have any ownership interest in Beer Bonds Plc or any Innis & Gunn group company;
The BeerBondsTM are an unsecured loan for a fixed period, paying a fixed rate of interest.
We strongly recommend that investors should seek their own independent advice from an appropriately qualified financial adviser before making any investment decisions.