Last checked at 17 Nov 2021 07:00
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