LONDON (Alliance News) - Norish PLC on Wednesday said it has identified potential investment opportunities in dairy farming in Ireland and Missouri in the US as part of its strategy to develop a "multi-disciplined business of significant size and scale".
The third-party cold storage company said that management is in discussions in relation to leasing a dairy farm in Ireland and is also looking at options to develop a dairy operation in Missouri.
It also has identified a number of incremental investment opportunities in its existing cold storage operations and commodity trading that "have the potential to improve the contributions from these divisions significantly".
Norish said it will review its equity fundraising alternatives with the objective of improving its financial flexibility in order to invest. No definitive decision has been taken to proceed with a capital raise.
"The structure of any capital raise remains to be determined, and that, and the final terms of any such capital raise, would have to take account of general market conditions and demand from investors," Norish said.
Shares in Norish were untraded on Wednesday, last quoted at 50.00 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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