9 May 2024

The Artisanal Spirits Company plc

("The Artisanal Spirits Company", "ASC", "the Company" or "the Group")

Grant of Options

The Artisanal Spirits Company (AIM: ART), the creator of outstanding, limited-edition whiskies and experiences around the world, and owner of The Scotch Malt Whisky Society, Single Cask Nation & J.G. Thomson, announces that on 8 May 2024, it awarded 1,282,848 options over new ordinary shares of 0.25 pence each in the Group ("Ordinary Shares") to certain employees and directors of the Group under the Artisanal Spirits Company plc Long Term Incentive Plan. This includes awards to Andrew Dane, William McCarter, Kai Ivalo, Anne Phillips and Douglas Aitken as set out below.

These options have been granted in line with the Group's Remuneration Policy and are in the form of nominal cost share options each exercisable at the nominal value of an Ordinary Share of 0.25p ("Nil-Cost Awards") and vest after three years, subject to continued employment with the Group and achievement of performance related vesting criteria relating to the share price of the Company, the achievement of revenue targets and the achievement of EBITDA targets.

Following the grant of these options, Andrew Dane is now interested in 1,240,950 share options in the Group, Billy McCarter is now interested in a total of 299,775 share options in the Group, Kai Ivalo is now interested in a total of 628,294 share options in the Group, Anne Phillips is now interested in a total of 65,330 share options in the Group and Douglas Aitken is now interested in a total of 48,940 share options in the Group. 

Following this grant there are a total of 5,360,862 share options granted over unissued Ordinary Shares granted to directors and employees, representing 7.60% of the Group's current ordinary share capital of 70,559,774 Ordinary Shares.

The below notifications made in accordance with the requirements of the UK Market Abuse Regulation provide further detail:

Enquiries:

About The Artisanal Spirits Company

ASC's purpose is to captivate a global community of whisky adventurers, creating and selling outstanding, limited-edition whiskies and experiences around the world with an ambition to create a high quality, highly profitable and cash generative, premium global business.

Based in Edinburgh, ASC owns The Scotch Malt Whisky Society (SMWS), Single Cask Nation (SCN) and J.G. Thomson (JGT). Owning over 17,000 casks primarily comprising Single Malt Scotch Whisky, ASC's stock includes outstanding whisky (and other spirits) from 150 different distilleries across 20 countries which is sold to members both as individual bottles and whole casks.

Established in 1983, SMWS currently has a growing worldwide membership of over 41,000 paying members. With an established global presence in some 30 countries, SMWS operates a direct-to-consumer model (90% of revenue) primarily through e-commerce, in addition to four member rooms in the UK. SMWS provides members with inspiring experiences, content and exclusive access to a vast and unique range of outstanding, expertly curated Scotch malt and other whiskies.

In January 2024, ASC acquired SCN which sources, curates and bottles single-cask whiskies and other spirits selling both online and via traditional retail channels to its following of over 10,000 whisky enthusiasts in the USA. SCN also retails to international markets including the UK, Germany, Sweden, Japan, Israel and Canada.

Launched in the UK in late 2021, JGT has a focus on outstanding small batch blended malt whiskies and other spirits, available both through direct-to-consumer online sales and through traditional retail channels. The award-winning brand has subsequently expanded into international markets.

With proven e-commerce reach and a growing family of brands, ASC is building a portfolio of limited-edition and small-batch whisky and other spirits brands for a global movement of discerning consumers - delivering revenue of £23.5 million in FY23, predominantly from outside the UK, with an expanding presence in the other key global whisky markets including USA, China, Europe, Japan, Australia and Taiwan.

ASC has a pioneering business model, a substantial and growing addressable market presenting a long-term global opportunity and a strong and resilient business primed to deliver growth.