REG - Agriterra Ltd - Result of Broker Option and TVR

AgriterraAnnouncement

22/03/2023 11:45

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RNS Number : 8902T  Agriterra Ltd  22 March 2023

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the Market
Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

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REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE
FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR)
ORDINARY SHARES TO ANY PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR
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JURISDICTION.

 

22 March 2023

Agriterra Limited ('Agriterra' or the 'Company')

Agriterra Limited / Ticker: AGTA / Index: AIM / Sector: Agriculture

Result of Broker Option and TVR

Agriterra, the AIM-quoted African agricultural company, announces that,
further to the announcement made on 20 March, the broker option, a facility to
allow existing shareholders to participate in the fundraise on similar terms
to the placing announced on 20 March (the "Placing") ("Broker Option"), has
been fully subscribed.

 

Demand was received under the Broker Option for £50,000, and the Company will
therefore issue 5,000,000 ordinary shares ("Broker Option Shares"),
conditional only on Admission, at 1 pence per share ("Issue Price"), being the
same price as the Placing. Each Broker Option Share will rank pari
passu with existing Ordinary Shares and will be issued with one Protected
In-the-money Loyalty Warrant ("Pilow") for every Broker Option Share issued
under the same terms as announced on 20 March.

 

Further Magister Debt Conversion

As previously noted, as part of the Broker Option, Magister Investments
Limited ("Magister"), have agreed to convert a further £50,000 of debt held
by Magister in the Company into 5,000,000 new Ordinary Shares (the "Conversion
Shares") at the Issue Price and under the same terms as the Placing.

The net effect of this further conversion is that Magister maintains its
shareholding in the Company at greater than 50%, with a holding of 35,743,833
Ordinary Shares.

 

 

Broker Warrant

In connection with the Placing and the Broker Option, Peterhouse will be
granted 1,250,000 warrants to subscribe for new Ordinary Shares in the capital
of the Company, exercisable at the Issue Price for a period of 24 months (the
"Broker Warrants").

Total Voting Rights

Application has been made for admission of the 5,000,000 Broker Option Shares
and 5,000,000 Conversion Shares to be admitted to trading on AIM
("Admission"), with Admission expected to be on or around 27 March 2023.
Following Admission the Company's enlarged issued share capital will be
71,240,618 Ordinary Shares. The Company holds no Ordinary Shares in Treasury.
This figure of 71,240,618 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.

** ENDS **

 

 

For further information please visit www.agriterra-ltd.com or contact:

 

 Agriterra Limited                   Caroline Havers

                                     caroline@agriterra-ltd.com (mailto:caroline@agriterra-ltd.com)

 Strand Hanson Limited               Ritchie Balmer / James Spinney
 Nominated & Financial Adviser

                                   +44 (0) 207 409 3494

 Peterhouse Capital Limited          Lucy Williams / Rose Greensmith / Eran Zucker

 Broker                              +44 (0) 207 469 0930

 

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