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Benchmark Hlgs PLC - Result of Open Offer

RNS Number : 1336D
Benchmark Holdings PLC
17 February 2020
 

Information within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

 

Benchmark Holdings plc

("Benchmark" or the "Company")

 

Result of Open Offer

 

Benchmark Holdings plc (AIM: BMK), the aquaculture health, nutrition and genetics business, announces that it has conditionally raised total gross proceeds of £6.6 million through the Open Offer announced on 30 January 2020, representing the full amount proposed under the Open Offer. Accordingly, the Company has conditionally raised total gross proceeds of £43.0 million by way of the Placing (which was also announced on 30 January 2020) and the Open Offer.  The Open Offer and Placing Issue Price was 40p per ordinary share.  

 

The Open Offer closed for acceptances at 11.00 a.m. on 13 February 2020. The Company received valid acceptances from Qualifying Shareholders in respect of 30,691,713 Open Offer Shares, including applications for 25,054,237 Open Offer Shares under the Excess Application Facility. Admission of the 16,440,766 Open Offer Shares (and the 91,000,000 Placing Shares) is subject to passing the relevant resolutions at the General Meeting to be held later today.

 

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the circular sent to shareholders of the Company on 30 January 2020.

 

Peter George, Executive Chairman of Benchmark, commented:

"We are pleased to have raised the full amount envisaged under the Open Offer. The proceeds of the Open Offer and Placing will in part be used to scale up CleanTreat® as we prepare to launch BMK08, our novel medicinal treatment to combat sea lice, one of the main biological challenges in salmon farming. We are excited about the opportunity we now have to deliver Benchmark's enormous potential."

 

 

Enquiries:

 

Benchmark Holdings PLC


benchmarkplc.com/investors

Septima Maguire, CFO


+44 (0)20 3696 0630

Ivonne Cantu, Investor Relations






Numis Securities



Freddie Barnfield, Duncan Monteith (Nominated Adviser)


+44 (0)20 7260 1000

James Black (Corporate Broking)






MHP Communications



Katie Hunt / Reg Hoare / Alistair de Kare-Silver


+44 (0)20 3128 8742


  

About Benchmark Holdings PLC

 

Benchmark's mission is to enable food 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

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Benchmark Holdings PLC

Price: 28

Market: AIM
Market Cap: £186.86 m
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on 5/2/20