Dekel Agri-Vision PLC - West Africa-focused agriculture company - Inks agreement to acquire an additional 17% stake in the large scale raw cashew nut processing project at Tiebissou, Ivory Coast for GBP1.1 million, taking its total interest in the project to 71%. Notes GBP708,000 of the consideration will be in cash with the remaining GBP354,000 to be settled through the issue of 7.1 million shares at 5 pence each. Adds the plant at Tiebissou will commence production in the second quarter of 2021 at an initial raw cashew nut processing capacity of 10,000 tonnes per annum, with production to increase to 50,000 tonnes per annum in 12 to 24 months
Current stock price: 5.06 pence
Year-to-date change: up 18%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Dekel Agri (DKL)