Agriterra Ltd Holding(s) in Company (2156L)
August 31 2012 - 6:45AM
UK Regulatory
TIDMAGTA
RNS Number : 2156L
Agriterra Ltd
31 August 2012
Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector:
Agriculture
31 August 2012
Agriterra Ltd ('Agriterra' or 'the Company')
Holdings in Company
Agriterra Ltd, the AIM listed pan African agricultural company,
received notification on 30 August 2012 that following the disposal
of 10,680,879 ordinary shares in the Company ('Ordinary Shares') on
29 August 2012, Libra Advisors LLC, as investment advisors for
Libra Fund LP, now holds a total of 63,182,149 Ordinary Shares,
representing 5.96% of the issued ordinary share capital and voting
rights of Agriterra.
** 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
David Foreman Seymour Pierce Ltd Tel: +44 (0) 20 7107
8000
Andy Cuthill MC Peat & Co LLP Tel: +44 (0) 20 7104
2332
Susie Geliher St Brides Media & Finance Tel: +44 (0) 20 7236
Ltd 1177
Notes
Agriterra Ltd is an AIM listed agricultural company with four
divisions: beef, maize, cocoa and palm oil. Its cattle ranching
business, Mozbife, currently has a 4,000 strong herd, a land
holding of over 16,250 hectares, a feedlot and a 4,000 head per
month abattoir which is under construction. In addition to selling
meat from its own herds, throughput for the feedlot and abattoir
will be supplemented using cattle bought in from local
communities.
The Company's maize buying and milling operations, DECA and
Compagri, are located in Chimoio and Tete in central and
north-western Mozambique respectively. These collect maize from
circa 350,000 farmers using the Company's own vehicle fleet,
process it into mealie meal, the African staple, and then sell it
back to the local market, into supermarkets and to the World Food
Programme. Combined sales for the year ended 31 May 2011 totalled
28,822 tonnes maize meal generating revenue of US$13.6 million.
Agriterra's cocoa business is based in Sierra Leone, through its
100% subsidiary Tropical Farms Limited, which is currently a buying
and trading operation, but provides an ideal conduit to branch out
into cocoa production in West Africa. Its strategy is to establish
itself as a secure, sustainable and traceable source of supply to
meet the requirements of the major cocoa consumers who are placing
increased emphasis in this area.
The Company has expanded its portfolio of agricultural products
through the addition of palm oil, and holds a lease over
approximately 45,000 hectares of brownfield agricultural land in an
area suitable for palm oil production in the Pujehun District in
the Southern Province of Sierra Leone. This area of Sierra Leone,
which is close to the Liberian border, receives one the highest
levels of rainfall in Sierra Leone, which in itself, receives some
of the highest rainfall globally. In addition, the lease area is
located on the equatorial belt, which is the most favourable
geographical location for palm oil production.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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