REG - Pacsco Ltd - Update on Mozambique Asset Disposal
30/05/2025 13:30
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RNS Number : 8470K Pacsco Ltd 30 May 2025
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30 May 2025
PACSCo Limited
('PACSCo' or the 'Company')
Update on Mozambique Asset Disposal
PACSCo Limited, the AIM-quoted African agricultural company shortly to be
designated an AIM Rule 15 cash shell, provides the following update:
In connection with the proposed disposal of its Mozambique agricultural assets
as announced on 10 March 2025 and which was approved by shareholders on 31
March 2025 (the "Disposal"), PACSCo Limited (formerly Agriterra Limited)
advises that the process of engaging with local regulators in Mozambique as
required to implement the Disposal has taken longer than initially expected
due to unforeseen circumstances. Formal engagement is underway and the Company
is hopeful of completion of the local requirements/procedures within the next
three months (i.e. ahead of the 180 day longstop date in the agreement
governing the Disposal).
Once these requirements/procedures have been completed, the Disposal will
formally complete and the Company will thereafter be deemed to be an AIM Rule
15 "cash shell". Further information in this regard can be found in the
Company's circular dated 10 March 2025 which can be found on the Company's
website (www.pacsco.co.uk)."
** 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
Peterhouse Capital Limited Duncan Vasey / Heena Karani
Broker +44 (0) 207 469 0930
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