Distil
DIS · AIM · Food, Beverage and Tobacco · mcap £1.2m · 0.1p 3 open situations →
- Share price 1y
- −53%
- Insiders 12m
- no deals
- Next report
- around 22 Oct
Open · 3
Board and leadership reshuffle
Follows from Strategic review – Review largely complete; new strategy agreed, closed 28 Sep 2026
In July 2026 Executive Chairman Don Goulding retired. Philip Naughton became Non-Executive Chairman, and a full-time CEO appointment was subject to Nomad due diligence. Dave Smith started as CEO on 17 August 2026. His review is re-engineering the business model, and two new independent NEDs are close to appointment, conditional on funding and Nomad due diligence.
- CEO
- Dave Smith, arrived 17 August 2026
- Review outcome
- Business model and strategy to be significantly re-engineered
- Cost savings
- Annualised fixed overhead savings over £250k, largely actioned
- NEDs
- Two new independent NEDs, conditional on funding and Nomad due diligence
Next: Two new independent NEDs after funding and due diligence
- 28 Sep 2026 CEO in post; NED appointments conditional
- 15 Jul 2026 Announced; CEO appointment subject to due diligence
Delayed accounts and share suspension
Follows from Placing of 32% of the market value – completed, closed 22 Nov 2025
Distil will miss the 30 September 2026 AIM Rule 19 deadline for its audited 2026 Accounts because the audit cannot be finalised until funding is secured. Trading is suspended from 1 October 2026 and will be lifted after publication, subject to the AIM Rules.
- Suspension
- From 7.30 a.m. on 1 October 2026
- Lifted when
- After publication of 2026 Accounts, subject to AIM Rules
- Blocker
- Audit awaits additional funding and the reforecast
- 28 Sep 2026 Suspension from 1 October 2026
Ardgowan funding gap
- 4 Jun 2026 Recapitalisation agreed; conditions outstanding
- 24 Mar 2026 Production behind schedule, debt drawdown delayed
Closed · 4
Company filings. Not investment advice.