Agriterra Ld Regulatory News (AGTA)

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR) ORDINARY SHARES TO ANY PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR WHO IS A RESIDENT OF, THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

22 March 2023

Agriterra Limited ('Agriterra' or the 'Company')

Agriterra Limited / Ticker: AGTA / Index: AIM / Sector: Agriculture

Result of Broker Option and TVR

Agriterra, the AIM-quoted African agricultural company, announces that, further to the announcement made on 20 March, the broker option, a facility to allow existing shareholders to participate in the fundraise on similar terms to the placing announced on 20 March (the "Placing") ("Broker Option"), has been fully subscribed.

Demand was received under the Broker Option for £50,000, and the Company will therefore issue 5,000,000 ordinary shares ("Broker Option Shares"), conditional only on Admission, at 1 pence per share ("Issue Price"), being the same price as the Placing. Each Broker Option Share will rank pari passu with existing Ordinary Shares and will be issued with one Protected In-the-money Loyalty Warrant ("Pilow") for every Broker Option Share issued under the same terms as announced on 20 March.

Further Magister Debt Conversion

As previously noted, as part of the Broker Option, Magister Investments Limited ("Magister"), have agreed to convert a further £50,000 of debt held by Magister in the Company into 5,000,000 new Ordinary Shares (the "Conversion Shares") at the Issue Price and under the same terms as the Placing.

The net effect of this further conversion is that Magister maintains its shareholding in the Company at greater than 50%, with a holding of 35,743,833 Ordinary Shares.

Broker Warrant

In connection with the Placing and the Broker Option, Peterhouse will be granted 1,250,000 warrants to subscribe for new Ordinary Shares in the capital of the Company, exercisable at the Issue Price for a period of 24 months (the "Broker Warrants").

Total Voting Rights

Application has been made for admission of the 5,000,000 Broker Option Shares and 5,000,000 Conversion Shares to be admitted to trading on AIM ("Admission"), with Admission expected to be on or around 27 March 2023. Following Admission the Company's enlarged issued share capital will be 71,240,618 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 71,240,618 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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