Benchmark Holdings Share Price (BMK)

Paid out today .

Mistake to invest in AIM .

Accepted today .

Lost 58% .

In the same position Ripley at 57p. Luckily only 5000 shares but yet another Questor tip, similar to Tirupati Graphite that was dumb.

Will leave my Smaller Co Investment Trusts to pick from now on - they are doing particularly well at present.

No doubt going private will provide a steady income for the owners!!

Deadline 21st July 2025 for tenner offer at 25p being taken private

13/12/21 bought these for 59p

Always falling since that buy to a low of 17.7p April 2025.

AIM shares are just not worth the risk .

Research note:

For the half year to 31 March 2025, Benchmark Holdings reported revenue from continuing operations (post disposal of the Genetics business area) of £40.6m, -22%YoY (-17% CER), primarily resulting from the pause in sea-based sales of Ectosan®Vet and CleanTreat® in the Health business area. The Group recorded an operating loss of £8.4m (H1 24, £7.2m loss), and (adj.) EBITDA of £4.2m, down 56%YoY.

On 23 May, the Group announced its intention to cancel its Admission to trading on AIM and Euronext Oslo, subject to approval from shareholders and the Norwegian regulator. As part of the process, CEO Trond Williksen will step down from the Board and CFO Septima Maguire will resign.

The planned disposal of the Genetics business was completed on 31 March, realising gross proceeds of £194.0m, from which the Group repaid the outstanding green bond, RCF and hedging instruments to the value of £87m, leaving net cash reserves of £117m.

It is proposed to return c.£95m to shareholder via: (i) a c.£56.7m tender offer for up to 226,934,325 Ordinary Shares at 25.0p/share, and (ii) a special dividend, conditional on the outcome of the General Meeting on 18 June. The rationale for de-listing from AIM includes implied annual cost savings totalling an estimated £8.0m (specific AIM-related, £2.4m, and arising from streamlined operations, £5.6m), and reduced management, legal and regulatory responsibilities.

In light of the decision to de-list subject to shareholder ratification, we have suspended our Fair Value.

Link to note: https://www.equitydevelopment.co.uk/research/h1-25-results-and-proposed-delisting-from-lse-aim

Video recording - Investor Presentation:

Trond Williksen (CEO) and Septima Maguire (CFO) of Benchmark Holdings plc (AIM: BMK, Euronext Growth Oslo: BMK), the aquaculture biotechnology business, hosted an Investor Presentation covering Interim numbers for the six month period ended 31 March.

Highlights included the completion of the sale of the Genetics business, resulting in Group profit after tax of £76m, with the continuing business performing in line with expectations. Management discussed the repayment of their Green bond, RCF and related hedging instruments for a total of c. £87m post period end. The team also discussed the recently announced proposals to delist the Company from AIM and Euronext Growth Oslo, and the opportunity for shareholders to roll over into the private company and receive a special dividend. There was a detailed financial overview and a Q&A session where management answered investor queries.

The full presentation is available to watch, divided into chapters as below:

0:00:03 Introduction & Agenda

0:00:50 Highlights

0:06:32 Operational Update

0:12:04 Financial Update

0:19:44 Outlook

0:22:20 Q&A

Link to video: https://www.equitydevelopment.co.uk/research/benchmark-holdings-hy-results-investor-presentation-video-12-june