Attention: You may lose some or all your capital should you invest as the assets on which the bond is secured may not be sufficient to pay back your investment in all circumstances.Please read the specific risk factors for Hambledon Vineyards . CrowdBnk Ltd is authorised and regulated by the Financial Conduct Authority (No.627852) with respect to equity investments only. Read more

 

Hambledon Vineyard

The English Fizz Mini Bond: Options

8% cash plus Rewards

£10,000
Minimum investment
 5 years
Term
 1/2 case
of Hambledon Classic Cuvée every year
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Secured*
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Convertible into Hambledon shares
Additional Rewards
  • For Investments of £10,000 – £19,999.99

    ½ Case of Hambledon Classic Cuvée delivered every year from June 2016 - 2020

  • For Investments of £20,000 – £29,999.99

    1 Case of Hambledon Classic Cuvée delivered every year from June 2016 - 2020

  • For Investments of £30,000 – £39,999.99

    1 Case of Hambledon Premier Cuvée delivered every year from June 2016 - 2020

  • For Investments of £40,000 – £49,999.99

    1 Case of Hambledon Premier Cuvée every year from June 2016 - 2020. Plus 6 tour and tasting vouchers. 2 free admissions to our “Be a Winemaker” wine tasting events.

  • For Investments of £50,000 – £59,999.99

    £40,000 reward plus 5 year membership of the Hambledon Club

As an example, for a £10,000 investment after 5 years you’ll get: £10,000 principal back, plus a £4,000 lump sum, which is your 8% interest per annum. You’ll also receive 1/2 a case of Hambledon Classic cuvée every year and at the end of the term have the option to convert your principal into Hambledon shares at £2.20 per share and/or Hambledon wine.

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Fizz 3200

Fixed
£3,200 investment
 5 years
Term
 1 case
of Hambledon Classic Curvée every year
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Secured*
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Convertible into Hambledon shares

After 5 years you’ll get your £3,200 principal back. You’ll also receive 1 case of Hambledon Classic cuvée every year and at the end of the term have the option to convert your principal into Hambledon shares at £2.20 per share and/or Hambledon wine.

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Fizz 1600

Fixed
£1,600 investment
 5 years
Term
 1/2 case
of Hambledon Classic Curvée every year
 Tick icon
Secured*
 Tick icon
Convertible into Hambledon shares

After 5 years you’ll get your £1,600 principal back. You’ll also receive 1/2 a case of Hambledon Classic Cuvée every year and at the end of the term have the option to convert your principal into Hambledon shares at £2.20 per share and/or Hambledon wine.

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About Hambledon

Hambledon is England’s oldest commercial vineyard, originally planted in 1952.

Its wine has won a medal at the English and Welsh Wine of the year competition, prizes at the international “Bollicine del Mondo” competition, and is generating great reviews from wine writers[1].

Unlike the best still wines, high quality sparkling wine needs to be grown in a cool/marginal climate to achieve the necessary high levels of acidity. This acidity is why Champagne’s quality is generally much higher than Prosecco or Cava. Hambledon is only 105 miles North of Champagne, and the company believes its 'Upper Cretaceous chalk' terrain is geologically a match for Champagne chalk. This combination of climate and terrain provides ideal growing conditions for producing the finest quality sparkling wines[2].

As well as England’s oldest vineyard, Hambledon village is the ‘Cradle of Cricket’ – the historic predecessor of Lords. The Company believes that this is the perfect brand combination to sell Englishness to the global wine market, with the aim of achieving sales of one million bottles per annum of one of the highest quality English sparkling wines.

To this end, Hambledon has invested in a state of the art winery, and has planted vineyards with around 100,000 vines.

The head winemaker, Hervé Jestin, was the Chef de Caves (head winemaker) at a top ten Champagne house for over 20 years and is considered one of the finest oenologues in Champagne. Hambledon Vineyard also has a 60 year relationship with Pol Roger, the historic French Champagne producer, which helped plant the vineyard in 1952 and remains a regular source of support and encouragement.

The Directors estimate that volume sales in the UK of sparkling wine increased by 28% between 2009 and 2013 to123.3 million bottles per year[3].

The existing shareholders have backed the business from concept through to commercial production and the scaling up of both the winery and vineyards. This also enabled a partnership with a subsidiary of Berry Brothers & Rudd, a wine merchant of the highest quality, to jointly build the brand.

These foundations should already deliver substantial growth over the next five years. Over the last 3 years we have launched and sold out of our first wine – Mill Down 2010, which won a Gold award in the English wine competition[4]. Last year we launched Hambledon Classic Cuvée with FMV leading the sales process and listings have already been secured at some of London’s top restaurants. In 2015, we will bottle around 100,000 bottles from the 2014 harvest. If normal weather conditions prevail that number is expected to double next year, and grow further the year after. This funding round will provide working capital to bring these expansions through to market and may fund additional storage facilities. The investment proceeds are being used primarily to fund stock expansion in the cellar.

 

[1] http://www.ukva.org.uk/competition/2014-results/ ; https://twitter.com/hambledonwine: Tweet dated 15/3/15, See page 35 of the investment memo for wine writer reviews.

[2] “Champagne”, by Tom Stevenson. Page 56: Terroir glossary of rocks and soil

[3] Directors own research, http://www.wsta.co.uk/images/budget/EY-final-ADE-report-for-WSTA.pdf. Section 2.1 shows WSTA estimating sparkling wine to exceed still wine production.

[4]  http://www.ukva.org.uk/competition/2014-results/ 

Investment Offer

Investors in the Convertible Mini Bond will receive an 8% per annum cash yield on their funds for five years (rolled up to redemption) and the option to convert into equity at year 5 at £2.20 per share. In addition, wine bonuses and gifts will be available.

The Directors expect this CrowdBnk-backed Convertible Mini Bond to be the last opportunity to participate in the equity of Hambledon Vineyard plc during its early development. 

Repayment

The Principal and Interest will be repaid on 31 May 2020. Investors may choose to take some or all of the principal and interest as wine.

*Security

The English Fizz Mini Bond will be secured on all the land, building and assets of Hambledon Vineyard plc. The holders of “senior debt” (up to £1,500,000) have first priority to be paid back from the sale of these assets if the business cannot pay back the bond holders. The 8% mini bond holders have second priority to be paid back after the “senior debt”.  The land and other fixed assets of the business have a book value of £2.7 million (November 2014). The stock of wine has a book value of £746,000 (November 2014). Once matured, the directors estimate that this will have a wholesale value of over £2 million.  The business plans to lay down an additional 200,000 – 400,000 bottles a year between now and the maturity of the mini bond in 2020, creating stock with a book value of £3.5 million and, once matured, wholesale value of £22million. 

Convertible

On 31st May 2020, when the mini bond matures, investors will have the chance to invest some or all of their principal into shares in Hambledon Vineyard Plc. These will be priced at £2.20 per share, which is 25% less than the price that the directors estimate will be a fair value of the business then.

 
Raised £3,500,804
Days to go Completed
Funding period ended on 8 June 2015
Target £2,750,000
Investors (66)
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The Hambledon Vineyard Gallery

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Authentic Brand

The oldest vineyard in England, located in the birthplace of cricket, underpins the strong sales story.

Terroir and Talent

Perfect growing conditions, enhanced by expert winemaking to ensure top quality output.

Foundations for growth

Vineyard and winery already scaled up to increase production and sales in the years ahead.

The Hambledon Team

Ian Kellett

Ian Kellett

Founder and Managing Director

Ian bought the Vineyard in 1999 and subsequently completed his qualification in oenology. He was previously Managing Director at Dresdner Kleinwort Benson and led their equity research team in the consumer staples sectors of the global equity market for 10 years, during which time he consistently ranked as one of the top food analysts in Europe.

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Hervé Jestin

Hervé Jestin

Head Winemaker

Hervé is renowned as one of the most talented oenologists in Champagne, having been Chef de Caves at Duval Leroy for 20 years. He now consults for wineries across the globe and is considered to be one of the world’s leading specialists in biodynamic sparkling winemaking. Hervé oversees all aspects of the winemaking process at Hambledon.

Andrew Christie-Miller

Andrew Christie-Miller

Chairman (Non Executive)

Andrew has considerable experience in land and estate management, having qualified as a Chartered Surveyor with Savills in the late 1970s. Andrew has held several senior positions, including Wiltshire County Councillor, High Sheriff of Wiltshire and Deputy Lieutenant of Wiltshire.

John Armit

John Armit

Director

John Armit has spent his career in the wine industry. He founded John Armit Wines in 1982 and ran the business until its 2008 sale. Previously he was Managing Director of Corney & Barrow. John was a director of the Groucho Club until its sale in 2001.

Martin Robinson

Martin Robinson

Director

Martin Robinson is the Executive Chairman of Brooks Macdonald Funds, a manager of alternative investment funds, and of Braemar Estates Limited, which manages a portfolio of residential property worth over £1 billion. Martin is a Chartered Accountant and NED of a number of other quoted and private companies.

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Learn more about Hambledon

Can I please have application forms for the English Fizz Mini Bonds and clarification what priority the company's debts would take from the sale of their assets.

The application for the English Fizz Mini Bond is done online using the CrowdBnk platform. Please click on the "Select" button below the bond option you require, and fill out the form on the Invest page with the amount you wish to invest. No other application form is necessary until the round closes, when you'll be asked to sign the Loan Note Instrument Document, a draft copy of which is downloadable from the Hambledon Vineyard project page. (on the right hand side of the page, above the Offer Document). The owners of the Mini Bonds (called Junior Loan Notes in the Loan Note Instrument Document) rank behind the owners of the Senior Loan Notes in case of a default event. There will be between £750,000 and £1,500,000 of Senior Loan Notes outstanding at any particular time in the lifetime of the Loan Notes. Full details of the process for repaying Junior Loan Note Holders is laid out in the Draft Loan Note Instrument Document.
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Hambledon Vineyard plc,

The Vineyard,
Hambledon,
Hampshire,
PO7 4RY

Email: [email protected]

Telephone: 02392 63235

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