REG - Dekel Agri-Vision - Corporate Finance Update

Dekel Agri-VisionAnnouncement

12/05/2026 07:00

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RNS Number : 8539D  Dekel Agri-Vision PLC  12 May 2026

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

12 May 2026

 

Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers

 

Dekel Agri-Vision Plc

('Dekel' or the 'Company')

Corporate Finance Update

 

Dekel Agri-Vision Plc (AIM: DKL), the West African agriculture company focused
on building a diversified portfolio of sustainable agricultural projects,
including the Ayenouan palm oil operation (the 'Palm Oil Operation') and the
Tiebissou cashew processing plant (the 'Cashew Operation') in Côte d'Ivoire,
is pleased to provide an update on the progress of its debt restructuring,
alongside broader corporate finance initiatives.

 

Bond Restructuring Update

·      The Company has received regulatory approval in Cote d'Ivoire for
its prospectus to issue a new bond of up to €13.3 million (the "New Bond").

·      The Company has now commenced the book build for the New Bond and
will provide a further update as appropriate.

·      The New Bond will have a six-year term, with a two-year principal
grace period and an interest rate of 9.5%, and is being arranged with a
syndicate of leading regional financial institutions in Cote d'Ivoire.

·      Upon completion, the New Bond will replace the existing bonds
which have the following terms:

o  €3.8million which carries an interest rate of 7.75% and has a remaining
tenure of 2.5 years.

o  €9.2million which carries and interest rate of 7.25% and has a remaining
tenure of 4 years.

·      The extended maturity profile of the New Bond, together with the
additional 2-year principal grace period, is expected to enhance the Group's
debt repayment profile, better aligning cash outflows more closely with the
forecast growth and future cash generation of the Cashew Operation, while
supporting the continued stable profitability of the Palm Oil Operation.

·      The New Bond builds on the debt restructuring announced on 26
June 2025 with other key lenders. As part of that process, a €1.2 million
loan provided by the Company's Chief Executive Officer and Director, Youval
Rasin, was converted into equity alongside an associated equity raise.

Corporate Finance Update

·      Whilst the Palm Oil Operation is now experiencing a good current
high season and the Cashew Operation has substantially improved; the high
leverage of the Company is a challenge requiring the ongoing support of the
key lenders.  Therefore, in addition to the New Bond, the Company is actively
evaluating a range of corporate finance opportunities. These include, but are
not limited to potential equity injections at the project level and pursuing
expressions of interest for the sale of one or more of its operating
subsidiaries.  In addition, the board would potentially consider the sale of
the Group.

·      These discussions are ongoing and are being pursued with a focus
on maximising shareholder value, with progress being made across a number of
workstreams. There can be no certainty that any transaction will be concluded.

·      In the absence of such outcomes, the Company will continue to
execute its existing strategy of continuing the stable profitability of the
Palm Oil Operation, growing the Cashew Operation to profitability and steadily
decreasing leverage.

·      The Company is incorporated in Cyprus and therefore is not
subject to the UK Takeover Code. However, the Company's articles of
association contain takeover provisions with the board given discretion as to
the application of such provisions. In particular, shareholders should note
that, the board would require shareholder approval if any party sought to
acquire 30 per cent. or more of the Company's shares but not more than 50%.
Furthermore if any party acquires more than 50% of the issued shares of the
Company it would be required to extend an offer to all shareholders.

 

Youval Rasin, Dekel's Chief Executive Officer said: "We are very encouraged by
the progress made on our bond restructuring, which represents a key step to
better align our debt profile with the ongoing growth of our Cashew Operation,
alongside the consistent performance of our Palm Oil Operation."

 

"At the same time, we are actively evaluating a range of corporate finance
opportunities to further enhance shareholder value and, where possible,
accelerate the Group's deleveraging. We are pleased with the level of interest
received to date and are progressing a number of discussions, and we will
provide updates as appropriate."

 

** ENDS **

 

For further information, please visit the Company's website
www.dekelagrivision.com or contact:

 

 Dekel Agri-Vision Plc    +44 (0) 207 236 1177

 Youval Rasin

 Shai Kol
 Zeus (Nomad and Broker)  +44 (0) 203 829 5000

 James Joyce

 Darshan Patel

 John Moran

Notes:

Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company
focused on West Africa. It has a portfolio of projects in Côte d'Ivoire at
various stages of development: a fully operational palm oil project in
Ayenouan where fruit produced by local smallholders is processed at the
Company's 60,000tpa capacity crude palm oil mill and a cashew processing
project in Tiebissou, which is currently transitioning to full commercial
production.

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