REG - Pacsco Ltd - Update on Mozambique Asset Disposal
08/08/2025 07:00
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RNS Number : 4889U Pacsco Ltd 08 August 2025
The information communicated within this announcement is deemed to constitute
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8 August 2025
PACSCo Limited
('PACSCo' or the 'Company')
Further Mozambique Asset Disposal update
Further to the Company's announcement on 30 May 2025, PACSCo Limited announces
that the long stop date for completion of the disposal of its Mozambique
agricultural assets (as announced on 10 March 2025 and as approved by
shareholders on 31 March 2025), has been extended by agreement with Chepstow
Investments Limited ("Chepstow") to 31 December 2025 (the "Disposal Agreement
Amendment"). The requirement for this extension arises from unexpected delays
in the process of obtaining the necessary local regulatory approvals in
Mozambique.
Related Party Transaction
Entering into the Disposal Agreement Amendment, constitutes a related party
transaction under Rule 13 of AIM Rules given that Chepstow 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 Chepstow) consider, having consulted with the Company's
nominated adviser, Strand Hanson Limited, that the terms of the Disposal
Agreement Amendment are fair and reasonable insofar as its Shareholders are
concerned.
** 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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