ISDX application1 Dec 2016 22:14
PETERHOUSE-CORPORATE-FINANCE-LIMITED
New Liverpool House, 15-17 Eldon Street, EC2M 7LA
Telephone: +44 (0) 207 469 0930
Fax: +44 (0) 872 111 3147
Web: www.pcorpfin.com
25/11/2016
AFRICAN POTASH LIMITED (“African Potash” or the “Company”) Application for Admission to the ISDX Growth Market The Board of African Potash, the AIM quoted company focused on vertical integration of fertilizer operations in Africa and Sub-Saharan potash assets, is pleased to announce that it has today applied for admission of its entire issued share capital of 1,142,165,711 ordinary shares of no par value (“Ordinary Shares”), to trading on the ISDX Growth Market (“ISDX”). Admission is expected to take place on or around 8 December 2016. For the avoidance of doubt, the Company will remain admitted to trading on AIM following admission to ISDX. Company Information As announced on 26 August 2016, the Company received a purchase order (the "Purchase Order") for 1,500 Metric Tonnes ("Mt") of urea from the Zambia Co-Operative Federation ('ZCF'), a government body which counts over two million smallholder farmers as members. The Purchase Order has been made pursuant to a fertiliser supply agreement entered into by African Potash with ZCF ('the Agreement') and falls under the Government of Zambia's recently launched innovative E-Voucher system (the 'E-Voucher Scheme'). On 2 August 2016, the Company announced that it has signed a fertiliser supply agreement with Rockwell Fertilisers Limited ('Rockwell'), a supplier and distributor of fertilisers in Zambia. African Potash will supply Rockwell with fertiliser products (NPK and Urea) to be sold on to prospective buyers, namely retail outlets who sell fertilisers to farmers in Zambia. This is supported by the Common Market for Eastern and Southern Africa ('COMESA'), with whom African Potash has an existing agreement, and Nutri-Aid Trust, a Zambian non-profit enterprise ('Nutri-Aid'), with whom African Potash has a trading agreement to sell Urea and other fertiliser products to Nutri-Aid's supply network, which includes over 2,500 agro-outlets certified by COMESA and managed by Nutri-Aid (with each outlet serving on average 300 farmers each). The agreement with COMESA was entered into in August 2015. At that time, the Company also entered into an agreement with the Mask Africa Crowd Farm Fund Limited (‘MACFF’), with a view to creating a vertical platform for the mining, production and distribution of fertiliser, focussed on the COMESA region and beyond. This agreement marked a milestone development in the establishment of the Company’s fertiliser operati