Chill Brands Group PLC Result of Open Offer (3338P)

TIDMCHLL

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 GBP212,201.40 (before expenses). Each Open Offer Unit consists of one new Ordinary Share of GBP0.01 each ("Open Offer Share") and five unsecured convertible loan notes with a principal amount of GBP0.02 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 .

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

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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