Completion of sale of vaccine facility
31 July 2020
("Benchmark" the "Company" or the "Group")
Completion of the sale of vaccine manufacturing assets to Cell and Gene Therapy Catapult
Benchmark Holdings, the aquaculture genetics, health and advanced nutrition company, provides the following update further to the announcement made on 23 July 2020.
Benchmark has today completed the sale of its vaccine manufacturing facility at Braintree, UK to the Cell and Gene Therapy Catapult for £16m in cash. The consideration is gross of exit and transaction costs which are estimated to be c.£4m. This is part of a £100m investment by the UK Government to develop the Cell and Gene Therapy Catapult Manufacturing Innovation Centre to manufacture millions of doses of COVID-19 vaccines per month.
Trond Williksen, CEO, commented:
"I am pleased that we were able to complete this important transaction so swiftly and I would like to thank all parties involved in making this happen. This is an important step in our strategy of becoming a streamlined, profitable business focused on our key areas of competency."
Peter George, Chairman, commented:
"I am delighted that Benchmark has been able to be part of the UK solution for vaccine manufacturing, which is a credit to the Government for moving quickly on this opportunity.
"The completion of this transaction marks a further milestone in the Group's considerable progress with its restructuring programme, leaving Benchmark in a stronger position following the Covid-19 lockdown period."
For further information, please contact:
Benchmark Holdings plc
Trond Williksen, CEO
Septima Maguire, CFO
Ivonne Cantu, Investor Relations
Numis (Broker and NOMAD)
Tel: 020 7260 1000
James Black, Freddie Barnfield, Duncan Monteith
Tel: 07551 170 451
Katie Hunt, Reg Hoare, Alistair de Kare-Silver firstname.lastname@example.org
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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