Benchmark Holdings PLC Update on Joint Venture with AquaChile (5980B)
June 10 2019 - 1:00AM
UK Regulatory
TIDMBMK
RNS Number : 5980B
Benchmark Holdings PLC
10 June 2019
10 June 2019
Benchmark Holdings plc
("Benchmark" or the "Company")
Update on Joint Venture with Empresas AquaChile S.A.
(AquaChile)
Dissolution of Joint Venture
Further to the announcement made on 29 May 2019, Benchmark, the
aquaculture health, nutrition and genetics business, announces that
it has completed the dissolution of its joint venture with
AquaChile.
As previously announced, Benchmark will receive its $16.25m
original investment in the JV. Payment will be made in two
instalments, a first US$7.5m payment will be made 10 days after
completion and the balance US$8.75m six months after completion.
The Company will also receive the IP rights, genetics stock and
biomass in the JV. The dissolution has created an opportunity for
Benchmark to take control of a land based salmon breeding facility
belonging to the JV. The Company is in the process of conducting
due diligence on the facilities and it is expected that the
transfer of ownership will take place in the coming weeks. A
further announcement will be made in due course.
- ENDS -
Enquiries
For further information, please contact:
Benchmark Holdings plc Tel: 020 3915 1236
Malcolm Pye, CEO
Mark Plampin, CFO
Ivonne Cantu, Investor Relations
Numis (Broker and NOMAD) Tel: 020 7260 1000
James Black, Freddie Barnfield, Freddie
Naylor-Leyland
MHP Communications Tel: 020 3128 8794
Katie Hunt / Reg Hoare / Alistair de Kare-Silver benchmark@mphc.com
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END
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