26 October 2017 For Immediate Release
Anglo African Agriculture plc
("AAA" or the "Company")
Funding to Strengthen AAAP's Product Range and Business Expansion
The Board of Anglo African Agriculture plc (LSE: AAAP), the London Main board
listed food manufacturing and trading company, today announces that it has
raised approximately £140,000 (gross) (the "Subscription Amount") by way of
subscription of 20,000,000 new ordinary shares of 0.1p each (the "Subscription
Shares") at a price of 0.7p per Subscription Share.
The Subscription proceeds will be used to provide additional working capital,
which will enable the Company to increase stock levels in the Dynamic
Intertrade business to provide a wider product range for customers and allow
the company to increase stock levels of core mixing ingredients to meet growing
customer demand.
David Lenigas, Non-Executive Chairman, commented: "We are coming in to the very
busy season for the Dynamic Intertrade and it is imperative we are well funded
to keep up with growing customer demand over this period. We are also looking
at new business opportunities and it is also important to have a stronger
balance sheet whilst reviewing target businesses for acquisition."
The Subscription Shares will rank pari passu with the existing ordinary shares.
The Company has made application for admission of the Subscription Shares and
it is expected that admission will become effective and that dealings in the
Subscription Shares will commence at 8.00am on 1 November 2017.
Following the issue of the Subscription Shares, the Company will have
226,983,954 shares in issue.
For further information please contact:
Anglo African Agriculture plc +44 (0) 20 7440 0640
David Lenigas, Non-Executive Chairman
Rob Scott, Non-Executive Director
VSA Capital Limited (Financial Adviser and +44 (0) 20 3005 5000
Corporate Broker)
Andrew Raca