Hambledon share issue falls short

Hambledon Vineyard has raised £3.5 million with its share issue – slightly less than its £4 million target.

The Hampshire vineyard ran a share offer to help establish itself as a large-scale sparkling wine producer, marketing 250,000 bottles a year.

Directors are now talking to “other interested parties” to take the fundraising up to £4 million.

Managing director Ian Kellett, who bought Hambledon in 1999, said he was “delighted” with the response from investors. “This is the start of a very exciting time and I am very much looking forward to trying to deliver an award-winning English sparkling wine,” he added.

John Armit, who was managing dirrector of Corney & Barrow before establishing Armit Wines, is an independent director of Hambledon.