DECA

Update on the MBO of Sierra Leone Cocoa Assets

RNS Number : 5817T
Agriterra Ltd
06 January 2017
 

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

6 January 2017

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

Update on the MBO of Sierra Leone Cocoa Assets

 

The Company provides an update to its announcement of 5 October 2016 regarding the sale of its Sierra Leone cocoa assets in a management buy-out transaction (the "MBO") for a cash consideration of US$750,000 (the "Consideration"), which is due for payment on 9 January 2017.

 

The Company has been informed that payment of the Consideration will not be possible by 9 January 2017. Discussions are ongoing with the MBO team, who remain committed to the transaction, and their potential investors. The Company expects to be able to release an update on the outcome of those negotiations during January 2017.

 

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

 

Andrew Groves

Agriterra Ltd

Tel: +44 (0) 20 7408 9200

Daniel Cassiano-Silva

Agriterra Ltd

Tel: +44 (0) 20 7408 9200

David Foreman

Cantor Fitzgerald Europe

Tel: +44 (0) 20 7894 7000

Michael Reynolds

Cantor Fitzgerald Europe

Tel: +44 (0) 20 7894 7000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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