REG - Pacsco Ltd - Initial Completion of Mozambique Asset Disposal

PACSCoAnnouncement

Mon 16:30

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RNS Number : 7570X  Pacsco Ltd  23 March 2026

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

23 March 2026

PACSCo Limited

('PACSCo' or the 'Company')

 

Initial Completion of Mozambique Asset Disposal

 

Further to the Company's previous announcements regarding the agreed disposal
of its Mozambique agricultural assets (the "Disposal") to Chepstow Investments
Limited ("CIL") pursuant to the agreement entered into on 10 March 2025 (as
subsequently amended, the "SPA"), PACSCo announces that it has now achieved
initial completion of the Disposal as a result of completion of share
transfers with the effect that CIL now beneficially owns 100% of the shares in
companies which together hold the Mozambique agricultural assets.

 

The Bank of Mozambique's ("BOM") acceptance of the notification of the
assignment to CIL of the debt funding previously provided by the Company to
the local operating entities in Mozambique will now be sought as a condition
subsequent.

 

The Company is not presently able to provide a definitive timeline for
completion of this process with the BOM and as a result advises that a further
amendment has been agreed to the SPA to accommodate this uncertainty (the
"2(nd) Amendment").

 

Pursuant to 2(nd) Amendment, the Company and CIL have agreed that obtaining
the BOM's acceptance of the notification of the debt assignments is a
condition subsequent to initial completion which shall be achieved no later
than 30 June 2026 (or such later date as may be agreed in writing between the
parties).

 

Related Party Transaction

Entering into the 2(nd) Amendment, constitutes a related party transaction
under Rule 13 of AIM Rules given that CIL is a substantial shareholder of the
Company. In this context, Caroline Havers, Neil Clayton and Sergio Zandamela
(being the Directors on the Board who are considered to be independent of CIL)
consider, having consulted with the Company's nominated adviser, Strand Hanson
Limited, that the terms of the 2(nd) Amendment are fair and reasonable insofar
as its shareholders are concerned.

 

Further updates will be provided as soon as possible.

 

** ENDS **

 

 

For further information please visit www.pacsco.co.uk
(http://www.pacsco.co.uk) or contact:

 

 PACSCo 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

 AlbR Capital Limited                Duncan Vasey

 Broker                              +44 (0) 207 469 0930

 

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