Business
Acquisition and Placing
Acquisition and Placing.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \nRNS Number : 2063B Dekeloil Public Limited 15 June 2016 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY NEW ORDINARY SHARES, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER WITH RESPECT TO THE PROPOSED PLACING.\n \nDekelOil Public Limited \n('DekelOil' or the 'Company')\nAcquisition of a further c. 5% stake in CS DekelOil Siva Limited \nand \nAdditional Placing to raise £1.65 million at 1.325 pence per share\n \nDekelOil Public Limited, operator and 51% owner of the vertically integrated Ayenouan palm oil project in Côte d'Ivoire (the 'Project'), is pleased to announce that, further to the announcement of 24 May 2016, it is to acquire an additional c. 5 per cent. interest in CS DekelOil Siva Limited, the Company's majority owned producing palm oil project at Ayenouan ('the Acquisition') from its joint venture partner, Biopalm Energy Limited ('the Sellers'). Subject to completion and as a result of a favourable GBP: EUR exchange rate of 1.30 agreed with the Sellers, DekelOil expects to hold a stake of approximately 86% in the Project. \n \nThe Acquisition is to be funded by way of an additional proposed placing of 121,127,400 New Ordinary Shares (the \"Additional Placing Shares\") to raise £1.6 million. An additional 3,773,520 Sale Shares (the \"Additional Sale Shares\") are also being placed on behalf of Yehoshua Shai Kol. The Additional Placing Shares and Additional Sale Shares have been priced at 1.325 pence share, which is the same level as the Placing and Sale Shares on 24 May 2016 totalling £11.1 million as announced. In aggregate, firm commitments have now been received from investors to ...