DECA

Result of AGM

RNS Number : 5861A
Agriterra Ltd
21 March 2013
 



Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture

21 March 2013

Agriterra Ltd ('Agriterra' or 'the Company')

Result of Annual General Meeting

 

Agriterra Ltd, the AIM listed pan African agricultural company, held its Annual General Meeting today and all resolutions were duly passed.

 

** ENDS **

 

For further information please visit www.agriterra-ltd.com or contact:

Andrew Groves

Agriterra Ltd

Tel: +44 (0) 20 7408 9200

David Foreman

Cantor Fitzgerald Europe

Tel: +44 (0) 20 7107 8000

Rick Thompson

Cantor Fitzgerald Europe

Tel: +44 (0) 20 7107 8000

Andy Cuthill

MC Peat & Co LLP

Tel: +44 (0) 20 7104 2332

Susie Geliher

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

 

 

 

 

Notes

 

Agriterra Ltd is an AIM listed agricultural company with five divisions: beef, maize, cocoa, fruit and palm oil.  Its cattle ranching business, Mozbife, has a herd in excess of 5,450 head, a land holding of over 21,000 hectares, a feedlot, a 4,000 head per month capacity abattoir and retail units.  In addition to selling meat from its own herds, throughput for the feedlot and abattoir is supplemented with cattle bought in from local communities.  The Company also owns a proximal banana plantation and macadamia orchard.

 

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 maize meal, the African staple, and then sell it back to the local market, into supermarkets and to the World Food Programme.

 

Agriterra's cocoa business is based in Sierra Leone, through its 100% subsidiary Tropical Farms Limited, which includes buying, trading and production operations.  The Company holds over 1,200 hectares of land for cocoa cultivation and also has a strong buying register with three main hub stores, 41 satellite stores and a direct buying register of more than 3,500 farmers across the country.  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. 

 


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