26 October 2017 |
For Immediate
Release |
Anglo African
Agriculture plc
(“AAA” or the “Company”)
Funding to
Strengthen AAAP’s Product Range and Business Expansion
The Board of Anglo African Agriculture plc (LSE: AAAP), the
London Main board listed food manufacturing and trading company,
today announces that it has raised approximately £140,000 (gross)
(the “Subscription Amount”) by way of subscription of
20,000,000 new ordinary shares of 0.1p each (the “Subscription
Shares”) at a price of 0.7p per Subscription Share.
The Subscription proceeds will be used to provide additional
working capital, which will enable the Company to increase stock
levels in the Dynamic Intertrade business to provide a wider
product range for customers and allow the company to increase stock
levels of core mixing ingredients to meet growing customer
demand.
David Lenigas, Non-Executive Chairman,
commented: “We are coming in to the very busy season for the
Dynamic Intertrade and it is imperative we are well funded to keep
up with growing customer demand over this period. We are also
looking at new business opportunities and it is also important to
have a stronger balance sheet whilst reviewing target businesses
for acquisition.”
The Subscription Shares will rank pari passu with the existing
ordinary shares. The Company has made application for admission of
the Subscription Shares and it is expected that admission will
become effective and that dealings in the Subscription Shares will
commence at 8.00am on 1 November 2017.
Following the issue of the Subscription Shares, the Company will
have 226,983,954 shares in issue.
For further information please
contact:
Anglo African Agriculture
plc |
+44 (0) 20 7440 0640 |
David Lenigas, Non-Executive
Chairman |
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Rob Scott, Non-Executive
Director |
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VSA Capital Limited
(Financial Adviser and Corporate Broker) |
+44 (0) 20 3005 5000 |
Andrew Raca |
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