Issue of Equity

RNS Number : 4864V

Benchmark Holdings PLC

18 April 2016

 

18 April 2016           

Benchmark Holdings plc

("Benchmark" or "the Company")

Issue of Equity

INVE managers invest €120,000 in Benchmark shares

The Company announces that it has allotted 110,873 new ordinary shares of 0.1 pence each ("New Ordinary Shares") to certain managers of INVE Aquaculture Holding B.V. ("INVE"), to be issued on 20 April 2016, for a total consideration of €120,000.

As explained in the Company's Admission Document published on 11 December 2015, six additional managers of INVE, who were not shareholders in INVE at the time of its acquisition, were given the opportunity to invest in Benchmark ordinary shares at the placing price of 86 pence per share. Any such investment would also entitle them to receive share options under Part II of the Benchmark CSOP with a value of £40 for every £100 invested.  The six managers have now agreed to invest approximately €120,000 in aggregate to acquire a total of 110,873 ordinary shares at the placing price, a premium of approximately 65% to the Company's current market price. As a result of this investment, these managers have also been awarded an aggregate of 44,349 Benchmark CSOP options.

All of the managers have agreed to restrictions on the disposal of the ordinary shares until October 2017 and orderly marketing provisions until April 2018. The restrictions are the same as the lock-in and orderly marketing agreements described in paragraph 14.16 of Part VII of the Company's Admission Document published on 11 December 2015.

An application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it expected that Admission will occur on 20 April 2016.  Following Admission, the Company's issued share capital will comprise 474,068,952 Ordinary Shares.  No shares are held in treasury.  This figure of 474,068,952 may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

-Ends-

For further information, please contact:

Benchmark Holdings plc                           Tel: [phone]

Malcolm Pye, CEO

Roland Bonney, COO

Rachel Aninakwah, Communications

Cenkos Securities PLC                                Tel: [phone]

Ivonne Cantu / Stephen Keys (NOMAD)

Russell Kerr (Sales)

Tavistock                                                      Tel: [phone]

Matt Ridsdale/Niall Walsh

 

END

 

 

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