Roots Sustainable Agricultural Technologies jumps on African deal

Roots Sustainable Agricultural Technologies

25/11/2021 23:59

** Shares of Roots Sustainable Agricultural Technologies
 ROO.AX  climb as much as 18.8 pct to A$0.010, set for their
best intraday session since Oct 5
    ** Israel-based agricultural tech developer signs
non-binding letter of intent (LOI) with Cherry Iriigation SA
 urn:newsml:reuters.com:*:nFWN2SG0PR
    ** LOI to market, sell and install ROO's products in South
Africa and Namibia with royalty payments to be received on all
sales over 3-yr exclusivity period
    ** Stock trades at its highest since Nov 12; 9 mln shares
change hands, 8.1x the 30-day average volume of 1.1 mln
    ** Stock posts 18.8% weekly gain; down 61.9% this year as of
last close

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))