Business
100% Ownership of Bardsley England
100% Ownership of Bardsley England.
About this update from Camellia Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6014S\n Camellia PLC\n 17 November 2021\n \n \n \n \n 17 November 2021\n Camellia Plc\n 100% ownership of Bardsley England\n 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.\n 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.\n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.\n Note\n \n Enquiries\n \n Camellia Plc 01622 746655\n Tom Franks, CEO\n Susan Walker, CFO\n \n Panmure Gordon 020 7886 2500\n Nominated Adviser and Broker\n Emma Earl\n \n Erik Anderson \n \n \n Maitland/AMO \n \n \n PR \n \n \n William Clutterbuck 07785 292617\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commerc...