Stock Spirits is a Central and Eastern European branded spirits producer. Their vision is to be the leading spirits business in Central and Eastern Europe. They have a portfolio of more than 45 brands across a broad range of spirits, including vodka, vodka-based flavoured liqueurs, rum, brandy, bitters and limoncello. Stock Spirits’ core markets are Poland, the Czech Republic and Italy. Stock Spirits is traded on the London Stock Exchange.
Western Gate first invested in Stock Spirits in 2015 and is currently the largest shareholder with a 10% stake in the company. Stock Spirts appealed to Western Gate as the share price and market share positions showed significant room for value creation. At that time, Stock Spirits campaigned successfully for the removal of the CEO and consequent appointment of the current holder of the position. Western Gate also encouraged the reduction of central costs and the refocusing on its core markets.
Since then, the stock price has doubled and the company is gaining market share in Poland and Czech Republic. The company has also completed acquisitions, namely 25% of Quintessential Brands and more recently has announced the acquisition of Distillerie Franciacorta in Italy.
1st February 2021: AGM 2021 – Letter to Shareholders.
1st February 2021: AGM 2021 Press Release: Western Gate intends to vote against the Chairman and Senior Independent Director.
1st February 2021: AGM 2021 – Western Gate Voting Intentions.
26th May 2020: Western Gate comment on Stock Spirits Interim 2020 Results.
25th March 2020: Western Gate Supports Stock Spirits’ initiative on production of hand sanitiser.
6th February 2020: Western Gate Response to Annual General Meeting 2020
27th January 2020: Publication of Voting Intentions
20th January 2020: Letter to Shareholders from Western Gate
6th January 2020: Response to the Stock Spirits notice of General Meeting and hostility towards special dividend AGM resolution
19th December 2019: Western Gate calls for a special dividend by Stock Spirits
19th December 2019: Presentation: Western Gate calls for change at Stock Spirits – Keys issues and rationale
14th February 2019: Western Gate welcomes the large protest vote against Stock Spirits Chairman and SID
29th January 2019: Presentation: Western Gate calls for the removal of David Maloney, Chairman and John Nicolson, Senior Independent Director of Stock Spirits
29th January 2019: Letter to fellow Shareholders of Stock Spirits Group PLC
28th January 2019: Western Gate calls for the removal of David Maloney, Chairman and John Nicolson, Senior Independent Director of Stock Spirits
31st August 2017: Letter to the Board - the view on recent results and investment
27th April 2017: Voting intentions at the 2017 AGM
9th March 2017: More concerns about Stock Spirit'’s future
31st January 2017: Update on market results
24th January 2017: Statement re Alberto da Ponte
16th January 2017: Response to Stock Spirits’ pre-close trading update
9th December 2016: Update on market results
25th November 2016: Update on market results
31st October 2016: Ongoing poor Corporate Governance at Stock Spirits
27th October 2016: Stock Spirits’ Board salaries compared to companies with similar market capitalization
23rd May 2016: Response to Result of Stock Spirits’ AGM
17th May 2016: Response to Stock Spirits’ update in relation to Western Gate requisitioned resolutions
17th May 2016: The Daily Telegraph - Tycoon’s attempt to shake-up Stock Spirits board receives more heavyweight support
16th May 2016: Response to reports on the Stock Spirits AGM from ISS, Glass Lewis and PIRC
16th May 2016: City AM - Scene set for feisty AGM as backing grows for Stock Spirits’ investor
11th May 2016: Daily Telegraph - Pressure for shake-up at Stock Spirits
3rd May 2016: Western Gate Presentation
20th April 2016: Letter to Fellow Shareholders of Stock Spirits Group plc - English
20th April 2016: Letter to Fellow Shareholders of Stock Spirits Group plc - Polish
19th April 2016: Comment in response to Stock Spirits Group plc’s announcement – English
19th April 2016: Daily Telegraph - Boss bows out to revive Stock Spirits
18th April 2016: Response to the Retirement of Stock Spirits’ Chief Executive Officer – English
18th April 2016: Response to the Retirement of Stock Spirits’ Chief Executive Officer – Polish
9th April 2016: The Daily Telegraph - Rebellion grows at vodka maker Stock Spirits
5th April 2016: Fresh perspectives required at Stock Spirits Group plc – press announcement and letter to shareholders – English
5th April 2016: Fresh perspectives required at Stock Spirits Group plc – press announcement and letter to shareholders – Polish
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