London Stock Exchange welcomes The Artisanal Spirits Company plc to AIM
London Stock Exchange today welcomes The Artisanal Spirits Company plc (ASC), owner of The Scotch Malt Whisky Society (SMWS), the leading curator and provider of premium single cask Scotch malt whisky and other spirits for sale primarily online to a discerning global membership, to AIM under the ticker “ART”.
Based in Edinburgh, SMWS was established in 1983 and currently has a growing worldwide membership of approximately 28,000 paying subscribers.
SMWS provides these members with inspiring experiences and exclusive access to a vast and unique range of outstanding single cask Scotch malt whiskies and other spirits from over 20 countries.
ASC is building a portfolio of premium brands that bring together some of the world’s best producers with a growing movement of discerning consumers.
The fundraising raised gross proceeds of £15.0 million for ASC, which will have a market cap on admission of approximately £77.96 million based on the offer price of 112p per share. The net proceeds will primarily be used to fund further investment in whisky and other spirits stock, and in cask wood; the promotion of membership and business growth; existing and new venues; brand and digital development; and supply chain optimisation.
David Ridley, Managing Director, said: “The successful fundraise and move onto the public markets, which gave our loyal and discerning members the opportunity to become shareholders, is an exciting landmark for both ASC and SMWS. Our members are at the heart of everything we do, and we believe our status on AIM will enable us to access the capital required to bring them an even wider variety of premium, limited edition whiskies, spirits and inspiring experiences.
“ASC is a distinctive, fast growth, direct to consumer online business with high barriers to entry, operating in an industry with strong tailwinds. With a clear vision for the future, we believe our company is at a significant inflection point in its development, and are thrilled by the prospect of sharing our success with our new shareholders.
“I would like to take this opportunity to thank our team as well as our members, suppliers and investors for their support over the years. They have made ASC and SMWS what they are today and I look forward to moving into this exciting new chapter in our story with them all.”
Advisers to the Company
N+1 Singer – Nominated Adviser and Sole Broker
Dickson Minto W.S – Legal advisers
Alma PR – Financial PR adviser