100% Ownership of Bardsley England

RNS Number : 6014S

Camellia PLC

17 November 2021

 

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

 

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