REG - Camellia PLC - 100% Ownership of Bardsley England

CamelliaAnnouncement

17/11/2021 07:05

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RNS Number : 6014S  Camellia PLC  17 November 2021

 

17 November 2021

Camellia Plc

100% ownership of Bardsley England

Following its announcement on 2 August 2021 of an 80% stake in Bardsley
England ("Prior Announcement"), Camellia Plc (CAM.L, Camellia), the global
agriculture group, announces the purchase of the remaining 20% stake in
Bardsley England for a consideration of £1.7m from Bardsley Limited (the
"Acquisition").   As part of the purchase, Bardsley England has sold an
existing loan with a face value of approximately £1.1m to Bardsley Limited
resulting in net cash outflow from Camellia of approximately £0.6m.

Further information on Bardsley England is included in the Prior Announcement.
There has been no material change to the financial information relating to
Bardsley England since the Prior Announcement.  However, the harvest this
year has been disappointing due to adverse weather conditions and the business
has also been impacted by weaker than expected customer demand.  However, the
long-term fundamentals of the business remain strong and various initiatives
are in progress to improve its performance and profitability.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014.

Note

 

Enquiries

Camellia Plc
 
01622 746655

Tom Franks, CEO

Susan Walker, CFO

Panmure Gordon
 
020 7886 2500

Nominated Adviser and Broker

Emma Earl

Erik Anderson

Maitland/AMO

PR

William Clutterbuck
 
07785 292617

 

 

 

 

 

 

 

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