Update on Mozambique Asset Disposal

PACSCo

08/08/2025 07:00

RNS Number : 4889U

Pacsco Ltd

08 August 2025

 

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.

 

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 or contact:

 

PACSCo Limited
Caroline Havers
caroline@agriterra-ltd.com
Strand Hanson LimitedNominated & Financial Adviser
Ritchie Balmer / James Spinney
+44 (0) 207 409 3494
Peterhouse Capital Limited
Broker
Duncan Vasey / Heena Karani
+44 (0) 207 469 0930


 

 

 

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