Business
Mozambique update
Mozambique update.
About this update from Pacsco Limited
[{"type":"text","content":"\n \nRNS Number : 0736I Agriterra Ltd 28 June 2013 \n \n\nAgriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture\n28 June 2013\nAgriterra Ltd ('Agriterra' or the 'Group')\nUpdate\n \nAgriterra Ltd, the AIM listed pan-African agricultural group, is pleased to announce a further update on operations in Mozambique.\n \nThe Company is pleased to confirm that its beef operations at the Mavonde Stud Ranch, Vanduzi feedlot, Dombe and Irmaos Ranches are all progressing well and continue to perform strongly as reported in the RNS dated 11 June 2013. They are unaffected by highly localised security incidents in the country. Furthermore the Company is not expecting any future disruption to these businesses.\n \nAs reported, there have been a small amount of isolated incidents on the road from Chimoio to Maputo and the Company has taken the decision to refrain from sending transporters to the capital as a short term measure. The Company's maize farming/milling facilities centred in Chimoio, Tete and Beira, its abattoir at Chimoio and beef retail outlets are all running normally with sales unaffected. The Company's third beef retail outlet targeted to open in Maputo is likely to be delayed by two to three weeks.\n \nAgriterra Director Andrew Groves said, \"Our businesses in Mozambique continue to perform. Our operations are not in areas that have been affected by the reported isolated incidents but as a precautionary measure we have taken the decision on our transporters. We do not believe there will be any material impact on the performance of the Company and I look forward to updating shareholders on all aspects of the business, including our cocoa plantation in Sierra Leone, as we continue our investment in the growing African agricultural sector and build a fully integrated business.\"\n \n** ENDS **\n \nFor further information please visit www.agriterra-ltd.com or contact:\n\n\n\n\nAndrew Groves\n\n\nAgriterra Ltd\n\n\nTel: +44 (0) 20 7408 9200\n\n\n\n\nDavid Foreman\n\n\nCantor Fitzgerald Europe\n\n\nTel: +44 (0) 20 7894 7000\n\n\n\n\nRick Thompson\n\n\nCantor Fitzgerald Europe\n\n\nTel: +44 (0) 20 7894 7000\n\n\n\n\nAndy Cuthill\n\n\nMC Peat & Co LLP\n\n\nTel: +44 (0) 20 7104 2332\n\n\n\n\nSusie Geliher\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: +44 (...