Business
Mozambique Business Divestment and Notice of GM
Mozambique Business Divestment and Notice of GM.
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 \n10 March 2025\nAgriterra Limited\n('Agriterra' or the 'Company')\nAgriterra Limited / Ticker: AGTA / Index: AIM / Sector: Agriculture\n \nMozambique Business Divestment and Notice of GM\n \nAgriterra Limited, the AIM-quoted African agricultural company, advises that it will today be posting to Shareholders a circular, together with a Notice of General Meeting and Form of Proxy, to convene a General Meeting for 31 March 2025 to vote on the proposed disposal of the Company's Mozambique Agricultural Business, and accordingly, upon completion, the designation of the Company as an AIM Rule 15 cash shell.\n \nExtracts from the circular are copied out below, including the expected timetable of principal events and definitions. Shareholders are strongly encouraged to read the circular in full, which will be available on the Company's website shortly.\n \nExtracts commence below\n \nLetter from Chair\n \n1. Introduction\n \nThe Company has today announced that it has entered into a conditional agreement to dispose of its Mozambique agricultural business to its majority shareholder, Chepstow Investments Limited.\n \nThe Disposal will be achieved by the sale by the Company of its:\n \n· 100% interest in the issued share capital of AML; \n \n· 1% direct interest in the share capital of each of DECA, Compagri, Mozbife and CDL; and\n \n· the benefit of the AGTA-Moz Debts (together, the \"Sale Assets\").\n \nIf approved by shareholders, the consideration for the Disposal will be satisfied by Chepstow:\n \n· irrevocably releasing the Company from its obligations in relation to the CIL-AGTA Debt;\n \n· paying the costs associated with the Dispos...