Williksen to step down as chief executive of Benchmark Holdings
Trond Williksen, chief exeutive of aquaculture biotechnology and advanced nutrition company Benchmark Holdings, is to step down from the role next month as part of wider board and management changes linked to the company’s de-listing from the stock market and transition to being a private company.
The new CEO will be Patrick Waty, currently group chief executive at Benchmark Holdings subsidiary INVE Aquaculture. INVE’s chief financial officer Pierre Hugo will succeed Septima Maguire as Benchmark Holdings’ CFO. Maguire left the role on June 30.
Waty and Hugo will not become directors of the company.
In other changes:
- Therese Log Bergjord will join as non-executive director, succeeding Marie Danielsson who will resign from her role as a non-executive director upon Bergfjord's appointment;
- Torgeir Svae will step down as the board representative of Kverva AS and will be replaced by Kverva’s Frode Sandmark acting as a non-executive director;
- Kristian Eikre will step down as the board representative of FERD AS and will be replaced by FERD’s Frida Lillebøe acting as a non-executive director;
- Jonathan Esfandi will step down as the board representative of JNE Partners LLP and will be replaced by JNE partner Michael Zhang acting as a non-executive director.
The changes are each intended to take effect from the later of (i) the date of the de-listings from the London Stock Exchange AIM market and Euronext Growth Oslo, currently anticipated to be on or around 15 August 2025, and (ii) 31 August 2025.
£230m genetics sell-off
In May, Benchmark Holdings announced plans to de-list from the stock market and buy back stock from shareholders following the sale of its genetics division to Denmark-headquartered life sciences investor Novo Holdings for £230 million.
Benchmark, which made gross proceeds of £194m from the sale, said that after the repayment of loans and other debts it had net cash reserves of £117m. It proposed paying £95m of that to shareholders through a combination of a £56.7m share buy-back (Tender Offer) and a special dividend for investors who chose to stick with the company when it went private, subject to approval at a general meeting on June 18.
The Concert Party
A ‘Concert Party’ of three shareholders - Kverva AS, the JNE Funds and FERD AS -that between them own 71% of Benchmark Holdings, agreed not to take part in the buy-back offer.
“Shareholders should note that, if the Tender Offer Resolution is approved at the General Meeting and all of the Shareholders other than the Concert Party (Kverva AS, the JNE Funds and FERD AS) were to tender their holdings of Ordinary Shares in full, the Concert Party would consolidate its control of the Company, potentially resulting in 100 per cent ownership,” wrote Benchmark.
All the proposals were approved at the June 18 meeting. The result of the Tender Offer is due to be announced on Friday.
