Benchmark Holdings PLC Issue of Equity (4664L)
January 13 2021 - 01:00AM
UK Regulatory
TIDMBMK
RNS Number : 4664L
Benchmark Holdings PLC
13 January 2021
13 January 2021
Benchmark Holdings plc
("Benchmark" or "the Company")
Payment of contingent consideration following achievement of
milestones
Issue of Equity
Benchmark ( AIM: BMK), the aquaculture health, nutrition and
genetics business, announces that further to the acquisition of
aquaculture breeding programmes centred on shrimp from Centro de
Investigación de la Acuicultura de Colombia Ceniacua on 11 August
2016, $450,000 of contingent consideration is payable following the
satisfaction of specified operational milestones (the "Contingent
Consideration").
At the Company's discretion, the Contingent Consideration is
payable in ordinary shares in the Company using an agreed formula.
The Company has therefore issued 536,272 Ordinary Shares of 0.1p
each in the capital of the Company (the "New Ordinary Shares")
.
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and trading will commence at 8:00am
on 18 January 2021. The New Ordinary Shares will rank pari passu in
all respects with the Company's existing ordinary shares in
issue.
Following Admission, the total number of ordinary shares in the
Company with voting rights in issue will be 668,927,771. This
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
Trond Williksen, CEO, commented:
"The payment of the contingent consideration is a reflection of
the success of our shrimp genetics operations since the acquisition
was made. Through a team of leading geneticists, we successfully
expanded our genetics business into shrimp and developed a
Specified Pathogen Resistant SPR shrimp which will be rolled out in
Asia in the coming year.
"Specialist genetics are a significant driver of sustainable
production. The introduction of SPR shrimp will help improve
sustainability in shrimp production and is an important growth
vector for Benchmark, as we remain focused on becoming a
profitable, cash generative Group."
Enquiries
For further information, please contact:
Benchmark Holdings plc Tel: 020 3696 0630
Trond Williksen, CEO
Septima Maguire, CFO
Ivonne Cantu, Investor Relations
Numis (Broker and NOMAD) Tel: 020 7260 1000
James Black, Freddie Barnfield, Duncan
Monteith
MHP Communications Tel: 020 3128 8742
Katie Hunt, Reg Hoare, Alistair de Kare-Silver, benchmark@mhpc.com
Charlie Protheroe
About Benchmark
Benchmark's mission is to enable aquaculture producers to
improve their sustainability and profitability.
We bring together biology and technology, to develop innovative
products which improve yield, quality and animal health and welfare
for our customers. We do this by improving the genetic make-up,
health and nutrition of their stock - from broodstock and hatchery
through to nursery and grow out.
Benchmark has a broad portfolio of products and solutions,
including salmon eggs, live feed (Artemia), diets and probiotics
and sea lice treatments. Find out more at www.benchmarkplc.com
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