Business
Amendment to Mozambique Asset Disposal
PACSCo Limited has announced amendments to its Mozambique asset disposal agreement with Chepstow Investments Limited, extending the Long Stop Date to March 31, 2026, and making Bank of Mozambique approval a condition subsequent to initial completion. These amendments, necessitated by regulatory direction, constitute a related party transaction given Chepstow Investments' substantial shareholding. Independent directors, after consulting with the nominated adviser, deem the terms of the Amendment Agreement fair and reasonable for shareholders. Disclaimer*
About this update from Pacsco Limited
[{"type":"text","content":"\n\nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n27 January 2026\nPACSCo Limited\n('PACSCo' or the 'Company')\n \nAmendment to Mozambique Asset Disposal\n \nFurther to the Company's announcement made on 8 August 2025, PACSCo announces that certain additional amendments have been agreed to the agreement entered into on 10 March 2025 (the \"SPA\") for the disposal of its Mozambique agricultural assets (the \"Amendment Agreement\") to Chepstow Investments Limited (\"CIL\"), following receipt of regulatory direction from the Bank of Mozambique (\"BOM\").\n \nPursuant to the Amendment Agreement, the Company and CIL have agreed:\n(a) to extend the \"Long Stop Date\" under the SPA to 31 March 2026;\n(b) to make obtaining BOM approval for the Mozambique aspects of the underlying transaction a condition subsequent (to be achieved no later than 31 March 2026 or such later date as may be agreed in writing between the parties) to initial completion under the SPA. \nRelated Party Transaction\nEntering into the Amendment Agreement, constitutes a related party transaction under Rule 13 of AIM Rules given that CIL is a substantial shareholder of the Company. In this context, Caroline Havers, Neil Clayton and Sergio Zandamela (being the Directors on the Board who are considered to be independent of CIL) consider, having consulted with the Company's nominated adviser, Strand Hanson Limited, that the terms of the Amendment Agreement are fair and reasonable insofar as its shareholders are concerned.\n \n \n** ENDS **\n \n \nFor further information please visit www.pacsco.co.uk or contact:\n \n\n\n\n\nPACSCo Limited\n\n\nCaroline Havers\[email protected]\n \n\n\n\n\nStrand Hanson Limited Nominated & Financial Adviser\n \n\n\nRitchie Balmer / James Spinney\n+44 (0) 207 409 3494\n\n\n\n\nPeterhouse Capital Limited\nBroker\n\n\nDuncan Vasey / Heena Karani\n+44 (0) 207 469 0930\n\n\n\n\n\n\n\n\n\n\n\n\n \n \n \n\n","length":5920,"tagName":"div"}]