Naked Wines (WINE): Tender offer

What is happening

Naked Wines: Tender offer – proposed. ['proposed']

In short

Naked Wines launched a tender offer on 6 Nov 2026 to buy back shares at 80p, between £2.0m and £5.7m (up to 7.1m shares, c.10.72% of shares). The final size is set on 8 Dec after peak trading, with settlement expected on 16 Dec. Two Concert Party holders have given irrevocables to tender, which keeps the Concert Party below 30%.

Announced

6 Nov 2026 · proposed

Size

£2.0m to £5.7m, up to 7,100,000 shares (c.10.72% of shares in issue)

Price

80p per share, c.27% premium to 63p close on the Latest Practicable Date

Sizing rule

c.£5.7m if trading is at or above the Net Cash guidance midpoint; c.£4m if in the lower half

Irrevocables

Chapters Group AG and Monega (Truffle Fund) to tender at least their Basic Entitlement and vote in favour

Concert Party

28.09% now; no more than c.29.94% after completion, so no Rule 9 waiver needed

Timetable

GM and final quantum 8 Dec 2026; completion expected 16 Dec 2026; HY results 11 Dec 2026

What comes next

General Meeting vote and final tender quantum confirmed (8 Dec 2026).

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