DECA

Secures Total Interest in Agricultural Businesses

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 Ltd

Tel: +44 (0) 20 7236 1177

Susie Callear

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177



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