17th Feb 2020 13:19
(Alliance News) - Benchmark Holdings PLC on Monday said it has raised GBP6.6 million through a share open offer, part of a GBP43 million overall fundraise by the company.
In January, the aquaculture health, nutrition and genetics firm said it had raised GBP36.4 million through the placing of 91 million shares at 40 pence each. Following the placing, it announced a share open offer at the same price.
The stock was trading 1.2% lower at 42.00 pence each in London on Monday.
The company received applications from qualifying shareholders for a total of 30.7 million open offer shares.
Benchmark said that the net amount realised from its fundraising will be used to scale-up development of its CleanTreat system for aquaculture as well as to provide additional working capital.
"We are pleased to have raised the full amount envisaged under the open offer. The proceeds of the open offer and placing will in part be used to scale up CleanTreat as we prepare to launch BMK08, our novel medicinal treatment to combat sea lice, one of the main biological challenges in salmon farming," said Benchmark Chair Peter George.
By Ife Taiwo; [email protected]
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