24th May 2010
Hotel Chocolat, the luxury British Chocolatier and Cocoa Grower, is being advised by Citigate Dewe Rogerson as it plans to raise £5m from a chocolate bond.
The Chocolate Tasting Club, part of the Hotel Chocolat family of companies, will make the bonds available to its Chocolate Tasting Club members, which currently number around 100,000.
Members can invest £2,000 for a gross annual return of 6.72% or £4,000 for a gross annual return of 7.29%. The return will be paid in monthly Tasting Club boxes. After three years, the bonds can be redeemed in full. The scheme has been approved by the Financial Services Authority
The group will use the funds to expand the chocolate factory in Cambridgeshire, creating up to 250 new jobs. It also wants to expand the portfolio of Hotel Chocolat shops, creating up to 150 new jobs in the UK, expand overseas and create Hotel Chocolat’s eco chocolate factory at its cocoa plantation in the Rabot Estate, St Lucia
The CDR team is led by Simon Rigby with Lindsay Noton and reportsto Angus Thirwell, CEO of Hotel Chocolat.
For more information please contact:
Simon Rigby
Citigate Dewe Rogerson
020 7638 9571
simon.rigby@citigatedr.co.uk
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