Last checked at 6 Nov 2017 15:55
Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture
6 November 2017
Agriterra Ltd
("Agriterra" or the "Company")
Proposed 1:100 Share Consolidation and
Notice of Annual General Meeting
Agriterra Limited, the AIM listed African agricultural company, announces that it has today distributed to shareholders its Notice of Annual General Meeting (the "Notice"). Contained within the Notice is a resolution to shareholders regarding a proposed consolidation of share capital (the "Share Consolidation") further detail of which is set out below.
The Company's Annual General Meeting ("AGM") will be held at 12 15 p.m. on 30 November 2017 at Richmond House, St. Julian's Avenue, St. Peter Port, Guernsey, GY1 1GZ.
Proposed Share Consolidation
The Company's board of directors are seeking shareholder approval to undertake a share consolidation based on every 100 existing ordinary shares of 0.1p each ("Existing Ordinary Share") being consolidated into one new ordinary share of 10p each ("New Ordinary Share") (the "Share Consolidation").
As at 3 November 2017, the Company had 2,124,061,769 Existing Ordinary Shares. Following the proposed Share Consolidation the Company will have 21,240,618 New Ordinary Shares of 10p each in issue. The record date of the Share Consolidation will be 30 November 2017 with trading in the New Ordinary Shares under the new ISIN GG00BDG13C09 expected to commence at 8 a.m. on 1 December 2017, the next business day following the AGM. The Company also has a further 155,000,000 deferred shares of 0.1p each, which do not carry any right to any dividend, no right to receive notice, attend, speak or vote at any general meeting of the Company; accordingly, the deferred shares will not be subject to the proposed Share Consolidation.
As all existing ordinary shareholdings in the Company are proposed to be consolidated, the proportion of the Issued Ordinary Share Capital of the Company held by each Shareholder immediately before and after the Share Consolidation will remain relatively unchanged, other than for small changes that may arise from the rounding for fractional entitlements.
Timetable of Events
Annual General Meeting | 12:15 p.m. on 30 November 2017 |
Share Consolidation Record Date | 6:00 p.m. on 30 November 2017 |
Existing Ordinary Shares disabled in CREST and share register closed | 6.00 p.m. on 30 November 2017 |
Admission effective and dealings commence on AIM in New Ordinary Shares | 8.00 a.m. on 1 December 2017 |
CREST accounts credited with New Ordinary Shares | 8.00 a.m. on 1 December 2017 |
New share certificates despatched on or before | 15 December 2017 |
Further details regarding the proposed Share Consolidation can be found in the Notice, available at www.agriterra-ltd.com.
**ENDS**
For further information please visit www.agriterra-ltd.com or contact:
Agriterra Ltd | |
Daniel Cassiano-Silva | Tel: +44 (0) 20 7408 9200 |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) | |
David Foreman | Tel: +44 (0) 20 7894 7000 |
Callum Butterfield | Tel: +44 (0) 20 7894 7000 |
St Brides Partners (Financial PR) | |
Susie Geliher | Tel: +44 (0) 20 7236 1177 |