Benchmark Holdings PLC Update on dissolution of JV with AquaChile (2420R)
28 Octubre 2019 - 1:00AM
UK Regulatory
TIDMBMK
RNS Number : 2420R
Benchmark Holdings PLC
28 October 2019
28 October 2019
Benchmark Holdings plc
("Benchmark" or the "Company")
Update on dissolution of Joint Venture with Empresas AquaChile
S.A. ("AquaChile")
Second Payment and transfer of salmon breeding facilities
Further to the announcement made on 10 June 2019, Benchmark, the
aquaculture health, nutrition and genetics business, announces that
it will receive US$8.75m from AquaChile, representing the second
and final payment under the joint venture dissolution agreement.
Payment is due within 5 days of signing.
As part of this agreement the Company has completed the transfer
of ownership of the Ensenada facility, which gives Benchmark
control of the salmon breeding operation previously belonging to
the joint venture. The Company has received the IP rights, genetics
stock and biomass in the joint venture.
The Ensenada facility is a highly bio-secure hatchery situated
in the "Los Lagos" region in Chile, with good access to spring
water required for the production of high-quality eyed eggs
suitable for the Chilean industry. The Ensenada facility is being
adapted to be suitable for maturation of broodstock, spawning and
fertilisation of eggs, and it is expected that the first eggs from
the new facility will be available in H1 2021.
Chile is the world's second largest salmon producing country and
is an important market in Benchmark's long term strategy. We remain
focused on achieving full scale production at this bio-secure, land
based facility.
- ENDS -
For further information, please contact:
Benchmark Holdings plc Tel: 020 3915 1236
Peter George, Executive Chairman
Mark Plampin, 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@mphc.com
About Benchmark
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), sea lice treatments,
training and data management tools. Find out more at
www.benchmarkplc.com
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END
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