Secures Total Interest in Agricultural Businesses
December 23 2009 - 7:00AM
UK Regulatory
TIDMAGTA
RNS Number : 6368E
Agriterra Ltd
23 December 2009
Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture
23 December 2009
Agriterra Ltd ('Agriterra' or 'the Company')
Secures Total Interest in Grain Processing and Cattle Ranching Businesses
Agriterra Ltd, the AIM listed company focussed on the agricultural sector in
central and southern Africa, announces that it has agreed to acquire the
remaining 25 per cent. of the issued share capital of agricultural trading and
processing companies Desenvolvimento E Comercialização Agricola Limitada
('DECA') and Compagri Limitada ('Compagri'), and cattle ranching and feedlot
production entity, Mozbife Limitada ('Mozbife') from Goodworth Services Limited
('Goodworth') ('the Acquisition'). Following completion of the Acquisition, the
Company will own the entire issued share capital of all three companies,
following the initial acquisition of a 75 per cent. interest in DECA, Compagri
and Mozbife which was completed in February 2009.
Under the terms of the Acquisition, 10,000,000 new Ordinary Shares in the
Company ('the Consideration Shares') will be issued to Goodworth at 6 pence per
share. Application has been made today to the London Stock Exchange for the
Consideration Shares to be admitted to trading on AIM ('Admission') and it is
expected that Admission will occur, and dealings in the Consideration Shares
will commence on 31 December 2009.
The Consideration Shares will, when issued, rank pari passu in all respects with
the existing issued shares of Agriterra, including the right to receive any
dividends and other distributions declared following Admission.
The Consideration Shares will represent 1.83% of the enlarged issued ordinary
share capital, which will then comprise 547,771,554 ordinary shares of 0.1p
each.
** ENDS **
For further information please visit www.agriterra-ltd.com or contact:
+--------------------+------------------------------+-------------------------+
| Andrew Groves | Agriterra Ltd | Tel: +44 (0) 20 7408 |
| | | 9200 |
+--------------------+------------------------------+-------------------------+
| Jonathan Wright | Seymour Pierce Ltd | Tel: +44 (0) 20 7107 |
| | | 8000 |
+--------------------+------------------------------+-------------------------+
| Hugo de Salis | St Brides Media & Finance | Tel: +44 (0) 20 7236 |
| | Ltd | 1177 |
+--------------------+------------------------------+-------------------------+
| Susie Callear | St Brides Media & Finance | Tel: +44 (0) 20 7236 |
| | Ltd | 1177 |
+--------------------+------------------------------+-------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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