Last checked at 6 Jan 2017 15:35
Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture
6 January 2017
Agriterra Ltd ('Agriterra' or the 'Company')
Update on the MBO of Sierra Leone Cocoa Assets
The Company provides an update to its announcement of 5 October 2016 regarding the sale of its Sierra Leone cocoa assets in a management buy-out transaction (the "MBO") for a cash consideration of US$750,000 (the "Consideration"), which is due for payment on 9 January 2017.
The Company has been informed that payment of the Consideration will not be possible by 9 January 2017. Discussions are ongoing with the MBO team, who remain committed to the transaction, and their potential investors. The Company expects to be able to release an update on the outcome of those negotiations during January 2017.
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For further information please visit www.agriterra-ltd.com or contact:
Andrew Groves | Agriterra Ltd | Tel: +44 (0) 20 7408 9200 |
Daniel Cassiano-Silva | Agriterra Ltd | Tel: +44 (0) 20 7408 9200 |
David Foreman | Cantor Fitzgerald Europe | Tel: +44 (0) 20 7894 7000 |
Michael Reynolds | Cantor Fitzgerald Europe | Tel: +44 (0) 20 7894 7000 |