Proposed Placing and Acquisitions Update

RNS Number : 3882Z

Benchmark Holdings PLC

10 December 2014

 



10 December 2014

Benchmark Holdings plc

("Benchmark" or the "Company" or the "Group")

Proposed Placing and Acquisitions Transaction Update

Acquisition of additional shares in Stofnfiskur HF

Further to the announcement of the proposed Placing and Acquisitions made on 24 November 2014, Benchmark is now pleased to announce that it has entered into additional Stofnfiskur Transfer Agreements to acquire a further 7.61 per cent. of the shares in Stofnfiskur with the result that, on completion of the Stofnfiskur Acquisition, Benchmark will hold 89.45 per cent. of the issued share capital of Stofnfiskur.  Accordingly, the aggregate initial consideration for the acquisition of Stofnfiskur is now approximately £21.8m, and the maximum aggregate payment under the Stofnfiskur Earn-Out is approximately £9.0m.

Defined terms used in this announcement have the meanings set out in the Circular published by the Company on 24 November 2014 relating to the Placing and Acquisitions.  A copy of the Circular is available on the Company's website at www.benchmarkplc.com.

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For further information, please contact: Benchmark Holdings plc Tel: [phone] Malcolm Pye, CEO Roland Bonney, COO Amy Firth, Head of Communications Cenkos Securities PLC Tel: [phone] Ivonne Cantu/Liz Bowman (NOMAD) Russell Kerr (Sales) Tavistock Communications Tel: [phone] Catriona Valentine / Niall Walsh / Keeley Clarke

 

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