Question 1

Why did Distil delay publishing its audited accounts by the 30 September AIM Rule 19 deadline?

Accepted Answer

Distil said the delay was due to a “root and branch review” launched after CEO David Smith arrived on 17 August, which required a financial reforecast to complete the audit and determine working capital needs.

Question 2

How does Distil handle the U.S. return of Blavod?

Accepted Answer

Distil routes its return of Blavod in the U.S. through AIKO Importers, appointed in April 2025, with progress delays tied to U.S. tariff uncertainty and delays to ATTTB labelling and liquid approvals, including during government shutdowns.

Question 3

When will Distil suspend trading in its shares?

Accepted Answer

Distil said trading in its AIM shares will be suspended from 7.30am on 1 October pending publication of its results.

Question 4

When did Philip Naughton become Non-Executive Chairman of Distil?

Accepted Answer

Philip Naughton became Non-Executive Chairman effective 14 August 2026. He joined the board in February 2026.

Question 5

What condition must be met before Distil appoints two independent non-executive directors?

Accepted Answer

The appointment of two independent non-executive directors is pending and expected to be conditional on completing additional funding and the nominated adviser’s due diligence.

Question 6

What did Distil say about its annualised fixed overhead savings?

Accepted Answer

Distil stated it has identified more than £250,000 in annualised fixed overhead savings, but it cannot finalise the audit without securing additional funding to complete it and establish working capital requirements.

Timeline

Distil

Distil suspends AIM shares after delaying annual results

Distil secures first US order for Blavod vodka

Distil splits chairman and CEO roles as Goulding steps down

Distil hands UK distribution to Fortitude Drinks

Distil converts Ardgowan loan note and secures rent credit worth three years of payments

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