(Alliance News) - Benchmark Holdings PLC on Monday launched a strategic review that could result in the sale of all or parts of the company, saying its share price undervalues its business and prospects.
Benchmark is based in Worthing, on the south coast of England. It is an aquaculture genetics, nutrition and health business that helps salmon, shrimp and other fish farmers to breed fish, provide early-stage nutrition, and fight sea lice.
Benchmark said its current share price "materially undervalues the combined value of Benchmark's businesses and the long-term prospects". It said this may be partly due to the "tightly held and illiquid nature" of its shares.
The stock was up 19% at 41.80 pence early Monday in London, giving the company a GBP309.1 million market capitalisation.
Benchmark said its not currently in talks with any potential buyer, and it said bidders should contact its financial advisers, Evercore and Rabobank.
By Tom Waite, Alliance News editor
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Benchmark Holdings (BMK)