GlenWyvis Distillery, a social enterprise which is 100% community owned and based in Dingwall in Ross-shire, Scotland, has released two new bond offers which will deliver a fixed annual interest rate of up to 6.25%.
The bond offers from GlenWyvis Distillery have been released to allow investors to capitalise on the Social Investment Tax Relief (SITR) which was extended by HMRC until 5th April 2023. These bonds will therefore be eligible for 30% tax relief (SITR), allowing holders who are UK taxpayers to offset a percentage of the purchase from their tax liability.
The bonds, Series B and Series C, will enable the GlenWyvis Distillery to raise £1.5 million which will be used to execute its long-term vision. Critical to the vision is the ability to increase spirit production and, in turn, increase the stockpile of maturing spirit to enable GlenWyvis Distillery to compete in an international market and satisfy demand for premium single malt Highland whisky bottled at 10 years old or more. GlenWyvis Distillery also aims to open a visitor centre and bottling plant.
The details of the bond offers are as follows:
This offer will attract a fixed annual interest rate of 5.5% over five to seven years.
Offered as unsecured loan notes in multiples of £1,000, interest will be paid every six months, and notes will be eligible for redemption in three tranches on the fifth, sixth and seventh anniversary of issue (2028-2030).
This offer will attract a fixed annual interest rate of 6.25% over eight to ten years.
Offered as unsecured loan notes in multiples of £1,000, interest will be paid every six months, and notes will be eligible for redemption in three tranches on the eighth, nineth and tenth anniversary of issue (2031-2033).
Speaking about the bond offers, David Graham, Chairman of GlenWyvis Distillery Community Benefit Society, said: “More than 3,000 like-minded people invested in GlenWyvis to create the first ever 100% community-owned distillery in 2016 and we are one of the largest registered community benefit societies in the United Kingdom.
“We have a clear vision and these bond offers will provide the capital required to execute the business plan to realise our ambition. Our previous bond offer in 2021 was extremely popular and I am confident that Series B and C offer a competitive investment opportunity, particularly if taken out before April 5th when the SITR comes to an end.”
The bond offers are only open to shareholders. However, interested potential investors are encouraged to consider becoming a member which can be done via an online application for a minimum shareholding of £250.
More details about the bond offer and becoming a member of GlenWyvis Distillery Community Benefit Society can be found at https://www.glenwyvis.com/investment/
In 2021, GlenWyvis Distillery launched Dingwall’s first whisky in almost a century with its inaugural three-year-old GlenWyvis Highland Single Malt Scotch Whisky. Its second release followed in 2022. The Distillery has also won industry awards for its GoodWill Gin.
This year, GlenWyvis Distillery Community Benefit Society launched the GoodWill Fund to benefit good causes in the local community. Funded by 5% of all online sales of GlenWyvis whisky and gin, £10,000 was made available for communities and organisations in Ross-shire to apply for. A further two rounds of funding will be launched throughout 2023, making a total of £30,000 available this year, with further funding rounds being launched each year.
GlenWyvis Distillery – The world’s first community-owned distillery – has announced the launch of its second three-year-old Highland Single Malt Scotch Whisky.
Batch two of the Dingwall-based distillery’s 2018 vintage distillation, known as Batch 02/18, follows the launch of its inaugural release whisky in December 2021 and will be available to purchase from 29th June 2022.
8,000 bottles will be available in total, and can be purchased directly from GlenWyvis Distillery’s website, with shareholders given early access, or from selected specialist retailers in Scotland and the UK. A number of bottles will also be available for purchase in Germany, where GlenWyvis Distillery’s largest non-UK shareholder base is.
Five per cent of online sales from GlenWyvis Distillery’s website will go directly to the GoodWill Fund; a fund that will benefit community projects and good causes in the Dingwall and Ross-shire area.
Speaking about the launch, Matthew Farmer, GlenWyvis Distillery Manager, said: “Following the success of our inaugural release – the first whisky produced in Dingwall for almost 100 years – I’m delighted to welcome batch two to the GlenWyvis Distillery family!
“Batch two was created from 23 casks between three and four years old, consisting of 15 first-fill ex-Tennessee/Bourbon, five first-fill ex-Oloroso and three refill Hogsheads. 02/18 has noticeably more oak influence and a deeper colour than our first whisky, while still letting our unique spirit shine through. I hope everyone enjoys getting to know our distillery character.”
GlenWyvis Distillery’s inaugural release whisky was in high demand, selling out via pre-order almost immediately. Since then, the small team has been working hard to deliver an equally sought-after second offering.
Board Chairman, David Graham added: “Congratulations to the team on the launch of GlenWyvis Batch Two Highland Single Malt Scotch Whisky! For such a small team at the distillery, they really punch above their weight, and I am very proud of what they have achieved.
“Dingwall is well and truly back on the whisky making map!”
For further information, stockist details or to purchase GlenWyvis Highland Single Malt Scotch Whisky 02/18, please visit: www.glenwyvis.com
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