Business
Issue of Equity and Total Voting Rights
Issue of Equity and Total Voting Rights.
About this update from Pacsco Limited
[{"type":"text","content":"\n \nRNS Number : 6278C Agriterra Ltd 18 April 2013 \n \n\nAgriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture\n18 April 2013\nAgriterra Ltd ('Agriterra' or 'the Company')\nIssue of Equity and Total Voting Rights\n \nAgriterra Ltd, the AIM listed pan-African agricultural company, announces that pursuant to the agreement announced on 17 January 2013 regarding the acquisition of further 2,500 hectares of farmland (the 'Acquisition') to expand the Company's cattle ranching operations in Mozambique, the Company is issuing 2,102,240 new ordinary shares of 0.1p each in the Company ('Ordinary Shares') as partial consideration.\n \nThe Acquisition is in line with the Company's strategy to expand its beef herd, which currently stands at 6,213 across the 2,350 hectare Mavonde Stud Ranch and the 15,000 hectare Dombe Ranch. The newly acquired farm, known as the Irmaos Ranch, will further diversify the Company's agricultural product range as it comprises a producing banana plantation and macadamia orchard, in addition to the land capacity for cattle. The Irmaos Ranch is located approximately 25km north of the Company's Mavonde Stud Ranch and is irrigated by the bordering Nyadzonya River.\n \nUnder the terms of the Acquisition, 2,102,240 new Ordinary Shares ('the Consideration Shares') will be issued (calculated using the prevailing US$/GB£ exchange rate as at 31 January 2013, the effective date of the Acquisition). Application has been made 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 23 April 2013.\n \nThe Consideration Shares will, when issued, rank pari passu in all respects with the existing issued ordinary shares of Agriterra, including the right to receive any dividends and other distributions declared following Admission. \n \nFollowing Admission, the Consideration Shares will represent 0.198% of the enlarged issued ordinary share capital, which will then comprise 1,061,818,478 Ordinary Shares, with each Ordinary Share carrying the right to cast one vote. \n \nThe number of Ordinary Shares quoted above may be used by shareholders in the Company as the denominator for the calculations by which they will...