Company Overview

Shepherd Neame is a family controlled brewer based in Kent, since 1698 making it Britain’s oldest brewer. The Company brews widely acknowledged premium ales including ‘Spitfire’, ‘Whitstable Bay pale ale’ and ‘Bishops Finger’, as well as internationally renowned lagers such as ‘Asahi Super Dry’ and ‘Samuel Adams Boston Lager’ from its brewery site in Faversham where around 280 people are employed. These beers are sold through various channels through the South East and nationally and have a growing presence in international markets such as the US and Canada.

The Company owns and operates around 350 quality pubs and hotels throughout the South East of England the majority of which are freehold sites. These pubs are a mixture of 304 tenanted and 46 managed operations where the company’s beer products are sold alongside wine and food and a growing accommodation business that totals around 500 letting rooms. Our pubs employ around 850 people directly and many more indirectly through tenancy and are important assets in their local communities.

The Company also owns various unlicensed properties and small landholdings, the largest of which is the 44 acre residual holding of the Queen Court farm in Ospringe near Faversham, where hop farming was carried out until 1986, and a separate 9 acre holding on the edge of Faversham.

Company Information

Shepherd Neame Limited. Registered in England under Company No. 138256. The Company is subject to the Companies Act 2006.

Registered Office:

17 Court Street, Faversham, Kent, ME13 7AX

Main country of trading: United Kingdom

E-mail: company@shepherdneame.co.uk

VAT No. GB472781717

Advisers

Registrars

Computershare Investor Service plc
P.O. Box 82
The Pavilions
Bridgewater Road
Bristol
BS99 6ZY
Tel: 0870 702 0000
Dedicated Shareholder Number Tel: 0870 707 1291
Web Site: www.computershare.com

Financial PR

Kreab Gavin Anderson
Scandinavian House
2-6 Cannon Street
London
EC4M 6XJ
Tel: 020 7074 1800
Web Site: www.kreabgavinanderson.com

Stockbrokers

JP Morgan Cazenove Limited
25 Bank Street
Canary Wharf
London
E14 5JP
Website: www.jpmorgan.com

Charles Stanley Securities
131 Finsbury Pavement
London
EC2A 1NT
Website: www.charles-stanley.co.uk

Auditors

Deloitte LLP
2 New Street Square
London
EC4A 3BZ
 
Corporate Adviser
 
JP Morgan Cazenove Limited
25 Bank Street
Canary Wharf
LondonE14 5JP
Website: www.jpmorgan.com

Legal Adviser

Travers Smith LLP
10 Snow Hill
London EC1A 2AL
Website: www.traverssmith.com

Bankers

National Westminster Bank plc
13 Market Place
Faversham
Kent
ME13 7EF

James Sharp & Co
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN
Website: www.jamessharp.co.uk

Shares

Shepherd Neame Limited currently has in issue 11,457,500 "A" Ordinary Shares, each with a nominal value of £1.00. The Articles specify that the minimum holding required to be registered in the Register of Shareholders as the holder of "A" Ordinary Shares is 100 "A" Ordinary Shares. This minimum holding does not apply to shares held through CREST.
 
Shepherd Neame “A” Ordinary Shares are quoted on the ISDX Growth Market operated by ICAP. The ISDX Growth Market is a recognised stock exchange and from August 2013 shares admitted to trading on a recognised stock exchange are qualifying investments for stocks and shares ISAs.

From September 2013 the Company's "A" Ordinary Shares have been admitted as a participating security on the CREST clearing system.

Shepherd Neame Limited also has 68,000,000 "B" Ordinary Shares in issue, each with a nominal value of 2p. These shares are not traded on any exchange and transfers can only take place in accordance with the Company's Articles of Association (generally only to specified categories of relations such that the "B" Ordinary Shares are retained by descendants of Percy Beale Neame and their family members)

The Company operates two share-based payment schemes and satisfies the exercise of options by buying "A" Ordinary Shares in the market. One is the Shepherd Neame Employee Share Incentive Plan (SIP), open to all employees with 18 months service at the award date. A free award of "A" Ordinary Shares, based on length of service and salary and subject to a maximum of £3,000, was made to all eligible employees in January 2003, 2004, 2005, 2006, and November 2006, 2007, 2008, 2010, 2011 and 2012. Participants are entitled to these free shares from three years after the date of the award if they remain in the Company’s employment. The number of "A" Ordinary Shares in this scheme outstanding at 28 December 2013 is 145,418 and the number of "A" Ordinary Shares distributable at this date is 82,381.  As the exercise of these options is satisfied by buying "A" Ordinary Shares in the market there will be no dilution for existing shareholders on exercise.

The second scheme is the Shepherd Neame 2005 Restricted Share Scheme, which is for Senior Managers and Directors, including the highest paid Director and five other Directors. The scheme provides for the grant of primary and secondary share options, which are exercisable three years after the date of the award. The secondary options are awarded if the Company achieves certain performance criteria in relation to growth of profits in excess of RPI. The number of "A" Ordinary Shares in this scheme outstanding at 28 December 2013 is 145,071 and the number of "A" Ordinary Shares exercisable at this date is 7,927. As the exercise of these options is satisfied by buying "A" Ordinary Shares in the market there will be no dilution for existing shareholders on exercise.

The percentage of "A" Ordinary Shares in public hands is 80% as defined in accordance within ISDX Growth Market rules includes all "A" Ordinary Shares not held by related parties (including directors and their family and connected persons), relevant employees and persons (or persons acting in concert) who have an interest in 5% or more of the relevant shares.

The interests of substantial shareholders in the issued share capital (over 3% of "A" Ordinary Shares) of the Company, as notified to the Company, are:

Name Number of “A” Ordinary Shares % of issued share capital
Chase Nominees Limited 1,029,583 8.99
Rulegale Nominees Limited 840,704 7.34
Lion Nominees Limited 423,310 3.69
MT Bolan 348,412 3.04

Articles of Association

The Company's Articles of Association are available on request from The Company Secretary, 17 Court Street, Faversham, Kent, ME13 7AX or by email.

Disclaimer

While Shepherd Neame Limited takes every precaution as regards the content and presentation of information on any part of this website, no warranty is given as to the completeness or accuracy of the information given. Therefore, to the full extent permissible by the applicable law, Shepherd Neame Limited shall not have any liability in respect of such information or for any use of such information by any person.

While the Company takes reasonable care to ensure the accuracy of the information on its website, it shall not be held responsible for any losses or liabilities arising from the use of the information. No information on this site constitutes, or shall be deemed to constitute, an invitation or recommendation to invest or otherwise deal in the Company’s shares or any other securities of the Company. Nor does the information constitute an offer to sell or a solicitation of an offer to buy any such shares or securities. For the purpose of the UK Financial Services and Markets Act 2000, nothing contained in this site is a 'financial promotion' nor does any statement constitute investment advice.

Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.