Page 34 - BrewDog Case Study

the company then divided into ten as part of the TSG

investment.

BrewDog allowed shareholders to sell up to 15 per cent of
their equity value which would be £988.50 for anyone who

bought one share in 2010. However, it capped the number

of shares that could be sold at 40 per investor.

Those who invested £95 for one share in the company’s

third fundraising would now own 50 shares valued at £659.

If they sold 15 per cent of that they would receive £98.85

minus fees.

Those who took part in Equity for Punks IV, meanwhile,

would have paid £95 for two shares, which would have

increased in value by 178 per cent to £263.60. Selling 15 per

cent of that would realise £39.54, subject to fees.

If all eligible shareholders were to sell their maximum

allowance BrewDog would pay out in the region of £9.2m.

A return of 6% gross interest rate paid 5% in cash and 1% in

beer. Watt commented that BrewDog was committed to

equity punks who were at the heart of the business.

2018

In February BrewDog announced plans to build a $30 million

production brewery and tap room on an 11,000 square

metres (120,000 sq ft) greenfield site in the Metroplex
complex at Murarrie, in Brisbane, Australia.