Brief: Anglo African Agriculture Says For Proposed Deal For Comarco, Intends To Fundraise $16 Mln

Everest Global

04/11/2019 13:39

Nov 4 (Reuters) - Anglo African Agriculture PLC  AAAP.L :
    * INTENTION TO FLOAT
    * CONFIRMS ITS INTENTION TO PROCEED WITH PROPOSED
ACQUISITION OF
COMARCO GROUP BY MEANS OF AN RTO
    * IN CONNECTION WITH PROPOSED DEAL CO INTENDS TO UNDERTAKE
FUNDRAISING OF $16 MILLION IN PLACING AT 10P/NEW ORDINARY SHARE
    * FUNDRAISING OF $16 MILLION TOGETHER WITH PROPOSED VENDOR
PLACING
OF $6 MILLION ON BEHALF OF SOME SHAREHOLDERS OF COMARCO GROUP
    * IF RE-ADMISSION IS SUCCESSFUL, CO WILL CHANGE NAME TO
AGULHAS
GROUP AFRICA PLC AND WILL TRADE UNDER A NEW TIDM (AGAP)
    * INTEND TO APPLY FOR READMISSION OF ENLARGED SHARE CAPITAL
TO
LISTING SEGMENT OF OFFICIAL LIST OF FCA, TRADING ON LSE
    * FUNDRAISING PROCEEDS WILL ALLOW ENLARGED GROUP TO REDUCE
ITS
LEVERAGE THROUGH BANK DEBT AND CREDITOR REPAYMENT
    * FUNDRAISING PROCEEDS TO ALSO BE USED TO CONDUCT ASSET
MAINTENANCE, UPGRADES, GIVE WORKING CAPITAL HEADROOM

Source text for Eikon:  ID:nPRr4B456a 
Further company coverage:  AAAP.L 

 ((Reuters.Briefs@thomsonreuters.com;))