Published on: March 15, 2016
A quality vote of confidence
Distil has announced a share placing, which sees blue-chip fund manager, Miton, take a 10% stake in the company through its UK Microcap Trust fund. This represents a great vote of confidence in Distil and its future prospects, and was reflected in the fact that the placing was made at a premium to the pre-placing price. The proceeds will be used on brand marketing and balance sheet support as volumes grow. This will underpin the medium- and longer-term growth of, and therefore the value of, the group’s brands. Distil also expressed its confidence on Q4 trading and its view that full-year results will be in line with Board expectations.