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Description of business:
Admission is being sought as a result of a reverse take-over under Rule 14 of Shellproof Limited. The business strategy is to create a prestigious English sparkling wine production, sales and distribution business. Through the acquisition and establishment of approximately 150 acres of vineyards and the construction of a winery, Shellproof PLC aims to produce leading examples of English sparkling wine. It is intended that the vineyards and winery will be located in West Sussex within, or in close proximity to the South Downs National Park. The business plan is based on approximately 150 acres of vineyards. In full production these vineyards are expected to produce grapes sufficient for approximately 400,000 bottles of sparkling wine which would make the Enlarged Group one of the leading producers of English sparkling wine. There are three principal components involved in developing the business to be operated by Shellproof PLC: i. The Vineyards These will contain or be planted with grape varieties suitable for English sparkling wine such as Pinot Noir, Pinot Meunier and Chardonnay. The 150 acre target is expected to come from: • The Freehold Property – 13 acres, of which 10 acres are planted with mature vines, to be acquired in accordance with the terms of the Acquisition Agreement as a freehold purchase. • The FBT Site - 27 acres. • Other sites locally, up to a further 110 acres, which are expected to be on similar long term farm business tenancies similar to the Farm Business Tenancy will be identified and planted over the course of the next few years. During the early years, in order to meet its production plans, the Shellproof PLC will continue to buy in grapes and process these in other local wineries on a contract basis. Shellproof PLC currently has stocks of approximately 25,000 bottles. Shellproof PLC may also consider the acquisition of freehold land and mature vineyards if suitable opportunities arise. ii. The Winery Shellproof PLC intends to build a winery on one of its target sites, subject to obtaining the relevant planning consents. It is likely that the winery would be acquired via a leasehold arrangement with commencement contingent on planning. The winery would be expected to be commissioned towards the end of 2014. The winery and related storage facility would carry out grape crushing, juice extraction, fermentation, secondary fermentation and other processes involved in the production of sparkling wine. The buildings would also accommodate bottling and storage facilities as well as a small visitor centre. iii. Sales & Marketing At a mature production level of approximately 400,000 bottles, the business is expected to be positioned as one of the leading producers of English sparkling wine. Sales and marketing will include: • Branding and related support: A brand name or names will be chosen to reflect the perceived brand values of the product. The Directors believe that branding will be assisted by the perceived quality of the region’s “terroir”. This region on which Shellproof Wines is based already has established vineyards for some of the leading English sparkling wine producers. The region benefits from an attractive setting with particular soil and climatic conditions which have already produced a number of award winning sparkling wines. • Distribution: Distribution will include direct sales via a visitor centre, other local direct sales, online and mail-order purchases, export sales and selected national distribution.

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Shellproof PLC

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