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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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| Afriag | LSE:AFRI | London | Ordinary Share | IM00B3VVCM89 | ORD 0.1P |
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| 0.00 | 0.00% | 0.085 | 0.00 | 00:00:00 |
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| - | O | 0 | 0.085 | GBX |
Afriag (AFRI) Share Charts1 Year Afriag Chart |
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1 Month Afriag Chart |
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| Date | Time | Title | Posts |
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| 15/4/2021 | 09:20 | Apollon transaction | 19 |
| 16/7/2020 | 07:16 | THE SUN NEVER SETS ON AFRIAG PLC | 174 |
| 22/10/2018 | 10:15 | AFRIAG - From Tiny Acorns Big Oak Trees Grow | 990 |
| 16/6/2015 | 11:53 | AFRIAG 2013 - the new Lonrho? | 894 |
| 28/5/2015 | 17:39 | Initial resistance at 0.72p 200 day moving average level | 1 |
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Posted at 19/3/2021 08:25 by pr100 Has Lenigas dumped his 124m Afriag shares now? He doesn't appear on the Afri website list of shareholders any more. If so, he obviously isn't expecting big things from the Apollon RTO - which will of course see him, Strang and Harris stepping down from the Afriag where-did-our-assets |
Posted at 23/2/2021 07:10 by the chairman elect Tuesday 23 February, 2021Afriag Global Plc Proposed RTO, Re-Admission to AQSE and £2.5M Raise AfriAg Global PLC (“AfriAg” 23 February 2021 PROPOSED REVERSE TAKEOVER AND RE-ADMISSION TO AQSE AND £2.5 MILLION EQUITY RAISE AfriAg is pleased to announce that, further to previous announcements made during 2019 and 2020 whereby it had acquired 2.68% of Apollon Formularies ltd (“Apollon̶ The Company is currently working on re-admission of the enlarged share capital to the AQSE Growth Market, together with a fundraise (“Admission In view of the size of the Offer relative to the Company and voting control of the Company, the Offer constitutes a reverse takeover under the AQSE Growth Market Rules and is therefore conditional, amongst other things, on the approval of Shareholders. The Company expects that Admission post approval by regulators and shareholders to become effective in March 2021. On Admission and subject to shareholder and regulatory approval, it is proposed that the Company change its name to Apollon Formularies PLC. Equity Raise The Company has received firm commitments for £2,500,000, before expenses, (through a combination of c. £2,000,000 in placing shares and c. £500,000 in subscription shares, for new ordinary shares of 0.1 pence each in the Company at a price of 5 pence per share. This funding will become unconditional and the placing and subscription Shares will be issued on Admission. About Apollon – Information supplied by Apollon Formularies Apollon Formularies is an international medicinal cannabis pharmaceutical company. It conducts business through investments and contractual arrangements with various persons and entities. Apollon Formularies Jamaica Ltd (“AFJ”) is the principal entity with which Apollon has an interest, which will exist pursuant to the Commitment Agreement, conditional to Admission. AFJ is a government licensed medicinal cannabis company incorporated in Jamaica and is licensed and approved to cultivate, process, perform research and development, and sell medical cannabis. Key strengths Medically supervised treatments Apollon’s fully licenced full spectrum framework gives the company unrivalled ability to perform medically supervised treatments Jamaica’s regulations mean that Apollon’s medically supervised treatments can be conducted using its own cannabis-based formulations along with placebos to reveal the medicine’s efficacy Use of artificial intelligence Laboratory machine learning (AI) is used to identify compounds that can be used on various illness under medical supervision to create range of products that are backed by clinical data The AI analyses plant genetics and phenotypes to determines the best combination of cannabinoids, terpenes and flavonoids to target and optimise treatment of diseases Processing & extraction o Apollon’s Processing Laboratory is based in Negril, Jamaica and is able to produce full spectrum medical cannabis oil (Inclusive of THC) o Apollon intends to start large scale cultivation in H2 2021 of their patented APM strain of medical cannabis flower Apollon Formularies Jamaica is licensed to operate at the Federal level in Jamaica and holds the following licences: Human Research & Development Cannabis Cultivation Retail Dispensary Retail Therapeutic Processing A “Tier 3” Conditional Cultivation approval is expected around Q3 2021 Conditional Export Approval Apollon has created and obtained proprietary hybrid medical cannabis pharmaceutical strains, technology, formulations, and treatment products. Many of these formulations were created using Apollon’s proprietary artificial intelligence techniques and include: Apollon NAUSEA™ Apollon PAIN™ Apollon SLEEP™ Apollon ANTI-INFLAMMATORY Apollon SEIZURES™ Apollon APPETITE™ Apollon CANCER™ (APM™) – High Times Cannabis Cup 1st Place Winner Summary Apollon Formularies will through its subsidiary AFJ develop, market, distribute and sell full spectrum (inclusive of THC) products in the legal hemp and medical cannabis industry. It is currently producing pharmaceutical, nutraceutical and other medical cannabis related products, including 3D printed sublingual, suppositories and capsules. Apollon Formularies was established to advance the current significant commercial opportunities in the legal medical cannabis markets globally. In addition to operating the businesses and activities permitted under the Licences, the company also intends to operate businesses and seek investments and financial interest arrangements throughout the world where legally permitted to do so in companies, projects, services and/or products that are: progressing medicinal cannabis research and development and obtaining intellectual property interests; producing or cultivating medicinal cannabis; producing or supplying medical products and services derived from or related to medical cannabis (including, but not limited to, hemp and cannabidiol products); commercialising or marketing medicinal cannabis and its derivatives; and/or complementary to the medical cannabis business of the Company even if not directly involving medical cannabis. The Directors of the Company accept responsibility for the contents of this announcement. - Ends - For additional information please contact: AfriAg Global PLC David Lenigas lenigas@monaco-capit Apollon Formularies Tel: +44 207 907 9314 Kevin Sheil kevin@apollon.org.uk Stene Jacobs stene@apollon.org.uk Peterhouse Capital Limited (Corporate Adviser) Tel: +44 207 220 9795 Guy Miller gm@peterhousecapital Blytheweigh (Financial PR/IR-London) Tel: +44 207 138 3204 Tim Blythe tim.blythe@blythewei Megan Ray megan.ray@blytheweig |
Posted at 16/7/2020 07:16 by pr100 Yesterday's Afriag 2019 accounts confirm that their South African assets were sold for £1 and that the company made a record loss of £2.5m.The touted Apollon UK deal hasn't happened and may never happen. No-one in their right mind would invest in a Jamaican tourism-related medical business business when the cruise ships have stopped sailing - and especially when cheap cannabis is available everywhere in a flooded market. It's weird that Apollon UK claims to be entitled to receive 95% of the profits of Apollon Jamaica but 95% of zero is zero so that can be discounted. Locals won't be paying top dollar for prescription cannabis when they can grow their own at home; and the tourists have disappeared. In any event, Docs Place Negril which hosts the Apollon Jamaica facility has only had two TripAdvisor reviews since 2017 and one of those was a warning to steer clear of the place. But based on the done deal to acquire 2.68% of Apollon UK for £1m, Afriag will also be buying the right to acquire 49% of Apollon Jamaica. Why that should appeal at all when Apollon UK are already entitled to receive 95% of Apollon Jamaica's "profits" is a head scratcher. Also troubling is the stated plan to buy the entire issued share capital of Apollon UK. Based on the terms of the initial deal, the remaining shares in Apollon UK will cost a ridiculous £36m (which is a bit rich for a company which struggled to raise £1m last year). Afriag would then be entitled to receive 100% of 95% of nothing. Compelling stuff. Like all Lenigas madcap deals, this one is pure nonsense, looks like a scam and should be avoided like the plague. The more likely scenario is that Apollon Jamaica, Apollon UK and Afriag Plc all go bust within weeks. |
Posted at 08/11/2019 07:50 by pr100 How can shareholders vote for these resolutions when the circular fails to mention the key fact - the agreed sale price for the African assets?The circular *implies* that the sale proceeds will be £0 but in typical Lenigas smoke-and-mirrors style, fails to confirm. The justification for the sale appears to be a first-half loss for Afriag Global Plc of £865k; but Lenigas has told us that the big money rolls in during the second half. And the Plc's annual reports show that Afriag (Pty) Ltd has made a profit every year since 2013, so the chances are high that they will end up reporting a profit for 2019 too. Even the 2019 interims show that Afriag (Pty) Ltd contributed a profit share of £12,000 so it continues to thrive. And let's not forget how Afriag (Pty) Ltd's revenues have grown from peanuts to almost £15m since allegedly receiving the £1.3m invested by Afriag Plc. To be specific, the Plc has received the following 40% profit shares from Afriag (Pty) Ltd: 2019 £12,000 (half year) 2018 £97,000 2017 £72,000 2016 £42,000 2015 £143,000 2014 £4,000 2013 £1,831 You can argue that a company turning over £15m should make more profit but any profit is golden - and perhaps the numbers have been massaged in order to minimise tax. In any event, Afriag (Pty) Ltd with its contacts, infrastructure, knowhow, revenues and profits is worth a lot of money to the right buyer. Arguably £10m but let's drop that to £5m if 2019 is looking borderline. So, 40% of that would at least see Plc shareholders getting their investment cash back with interest. Any attempt to sell the stake for less should be voted down. Note too that the intracompany debt of £626k is to be merely transferred to the buyer. Why not pay it back to the Plc as part of the deal? This looks like a truly awful deal which effectively robs Afriag Global Plc shareholders of their investment in Afriag (Pty) Ltd which had risen to £1.68m by 2018. Don't let Lenigas and Robillard/Kajee get away with it. See how Afriag (Pty) Ltd has performed here: |
Posted at 26/9/2019 07:10 by cpap man 26 September 2019AfriAg Global PLC (“AfriAg Global”, the “Group” or the “Company” Unaudited Interim Results for the six months to 30 June 2019 AfriAg Global PLC (NEX: AFRI), today announces its interim results for the 6-month period ended 30 June 2019. Investment policy change to include Medical Cannabis investments: On 12 September 2018, shareholder approval was obtained at a general meeting for the expansion of the Company’s investment strategy to include medicinal cannabis. The Company has now expanded its existing investment strategy to also include investments in companies, projects or products that are progressing research in and development of medicinal cannabis and its derivatives, producing or cultivating medicinal cannabis, producing or supplying products derived from or related to cannabis (including, but not limited to, hemp and cannabidiol products); and/or commercialising or marketing medicinal cannabis and its derivatives. The Company sees tremendous opportunities in the sector. The Company has already made a number of investments into this medical cannabis sector and going forward, the Company is likely to increase its exposure in this sector by looking to acquire control of certain target companies, although it may also consider acquiring non-controlling shareholdings in legal medical cannabis companies. Future investments to be considered by the Company may be in either quoted or unquoted securities and may be made by direct acquisition of an interest in companies, partnerships or joint ventures, or direct interests in projects and these investments can be at any stage of development. Accordingly, the Company’s proposed future equity interests in proposed investments may range from a minority position all the way up to 100 percent ownership. The Directors primary objective is to achieve the best possible value over time for Shareholders, primarily through capital growth. The Company’s Medical Cannabis Investments: During the period the Company announced it had agreed with Apollon Formularies Ltd (“AFL” or “Investee̶ The Company raised £1.25m during the period to assist with the acquisition of this Investment and now owns a total of 4.0 million shares in AFL, representing circa 2.325 per cent. of AFL’s issued share capital. The Company is working diligently with its legal advisors on the complicated and necessary due diligence to potentially acquire all of AFL. Further announcements will be made with respect to this as legal and accounting work progresses. As previously announced to shareholders, the Company is in detailed discussions and negotiations with the major shareholders of AFL, with which it has been granted a right of first refusal to acquire all the issued and outstanding shares owned by those shareholders in consideration for the issue and allotment to those shareholders of new ordinary shares in the capital of the Company at a price of 0.1 pence per new ordinary share (“ Right of First Refusal ”) which values the transaction at circa £40,000,000. Following exercise of the Right of First Refusal, which will be subject to approvals from (as applicable) (1) all the necessary government authorities, including the Cannabis Licencing Authority (in Jamaica ); (2) all necessary regulatory authorities; (3) the necessary approvals from the Company’s shareholders; and (4) approvals from the shareholders of AFL, the existing shareholders of AFL will hold circa 93.54 per cent. of the issued share capital of the Company. Following completion of the Investments and should the Company exercise the Right of First Refusal, the resulting enlarged group will be a vertically integrated medicinal cannabis group with operations in Jamaica and with plans to expand elsewhere throughout the world. Agriculture Investments: Sadly, the market has not considered what has been achieved with our investments in the agricultural sector well, even though these investments continue to perform in a difficult global environment. We, as a Company, will assess whether further or continued investment in the sector is warranted, as we move towards the medical cannabis focus. To this extent, the Company has decided that no further investment will be made in to our current agri-logistics investments as we now move our investment focus to the legal medical cannabis sector. Financial Results: During the period, the Company generated revenues to £1,323,000 (6 months ended 30 June 2018: £1,501,000) and made a gross profit of £163,000 (6 months ended 30 June 2018: £38,000). The operating loss for the period was £30,000 (6 months ended 30 June 2018: loss £118,000). Loss before tax was £867,000 (6 months ended 30 June 2018: loss £97,000) mainly attributable to the impairment of associate of £850,000. There was a weighted loss per share of 0.047p (30 June 2018: loss per share 0.007p). The unaudited interim results to 30 June 2019 have not been reviewed by the Company’s auditor. In Conclusion: We have a very unique ability, being one of the few companies listed in London and indeed Europe, to actually undertake investments in the fast-growing legal medical cannabis sector. It has taken a great deal of management and legal work to achieve this, and this will be a big focus for the management over the coming year. Having recently completed our initial investment in Apollon Formularies Ltd, we are actively pursuing to further increase our stake in this key investment further as discussed above. We fully appreciate that time is of the essence, and your board, its lawyers and indeed the AFL team are working tirelessly to wrap up this transaction as soon as possible. The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further significant progress over the next period and beyond. The directors of the Company accept responsibility for the contents of this announcement. David Lenigas Executive Chairman 26 September 2019 For further information, please contact: AfriAg Global plc: +44 (0) 20 7440 0640 David Lenigas Corporate Adviser and Broker: Peterhouse Capital Limited +44 (0) 20 7469 0930 Guy Miller / Allie Feuerlein |
Posted at 01/6/2019 10:04 by pr100 In case David Lenigas is about to dispose of Afriag Global Plc's assets (or write them off), shareholders should hold the company to account for its significant alleged investment in Afriag (Pty) Ltd and its associate companies.There can be no doubt, for example, that AFRI owned 40% of then associate, Amalgamated Tobacco Manufacturing (ATM). Notwithstanding the fact that ATM's assets were subsequently transferred to another company owned by Paul de Robillard, AFRI's share of it will still need to be accounted for in the final analysis. Also, there has been no formal filing by Afriag (Pty) Ltd which declares the 40% equity interest owned by AFRI so shareholders may find their interests obstructed by legal challenges when AFRI's assets in South Africa are disposed of. In email conversations with me ("The Lenigas Emails"), apparently monitored by his lawyers, Lenigas tried to claim, untruthfully, that neither he nor AFRI had ever had any involvement with ATM - but the evidence shows otherwise. As AFRI may now be about to declare disposals or write-offs for all its southern African agri-logistics assets, shareholders need to know whether they are being treated fairly. To that end, I urge you to read or re-read The Lenigas Emails and seek legal advice before the assets disappear. You'll find them here - and of course, the original documents are unredacted: or |
Posted at 24/5/2019 18:38 by cpap man 24 May 2019AfriAg Global PLC ('AfriAg' or the 'Company') GBP1 million Placing and Intention to commence investment into Jamaican focused medicinal cannabis pharmaceutical company AfriAg Global PLC, a company whose shares are admitted to trading on London's NEX Exchange, is pleased to announce that, further to its news release dated 16 May 2019, the Company has raised a total of GBP1,000,000 before expenses. 300 million new ordinary shares in the Company have been placed (the "Subscription Shares") at a price of 0.10 pence per Subscription Share (the "Subscription Price") to a number of placees (the "Subscription") raising GBP 300,000, before expenses. This Subscription is conditional only upon admission of the Subscription Shares to trading on NEX Exchange ("Admission"). Application will be made for the Subscription Shares to be admitted to trading on NEX and it is anticipated that Admission will occur on or about 30 May 2019. In addition, the Company has conditionally placed a further 700 million new ordinary shares in the Company (the "Conditional Shares") at a price of 0.1 pence per Conditional Share (the "Conditional Price") to a number of placees (the "Conditional Subscription") raising GBP700,000. Completion of the Conditional Subscription is subject to shareholder approval of certain resolutions to authorise the issue and allotment of the Conditional Shares at a general meeting to be held on 19 June 2019 and conditional on admission to these Conditional Shares to trading on NEX Exchange ("Conditional Shares Admission"). The circular and notice of a general meeting of the Company to be held on 19 June 2019 ("General Meeting") to, inter alia, pass the resolutions required to authorise the directors of the Company to be able to issue and allot ordinary shares in order to fund the Company's ability to complete the Investments, is expected to be published shortly. Following its publication, the circular will be available on the Company's website at hxxps:// www.afriagglobal.com As previously announced, the Company has entered into a conditional subscription agreement with Apollon Formularies Ltd ("Apollon") and has subscribed for (1) for 1.2 million shares in Apollon at a price per share of GBP 0.25 representing approximately 0.71 per cent. of Apollon's issued share capital for an aggregate investment amount of GBP300,000, subject to completing the Subscription; and (2) 2.8 million shares at a price per share of GBP0.25 representing approximately 1.63 per cent. of Apollon's issued share capital for an aggregate investment amount of GBP700,000, which investment is subject to receiving shareholder approval at the General Meeting (the "Investments"). Transaction History: On 16 May 2019, the Company announced it had agreed with Apollon, a UK incorporated company, to subscribe for shares in Apollon in a conditional multi-stage investment transaction (the "Investments"). The Company also advised on 16 May 2019 that is in discussions with the shareholders of Apollon to be granted right of first refusal to acquire all the issued and outstanding shares owned by those shareholders in consideration for the issue and allotment to those shareholders of new ordinary shares in the capital of the Company at a price of 0.1 pence per new ordinary share ("Right of First Refusal") which values the transaction at circa GBP40,000,000. Following exercise of the Right of First Refusal, which will be subject to approvals from (as applicable) (1) all the necessary government authorities, including the cannabis licencing authority (in Jamaica); (2) regulatory authorities; (3) approvals from the Company's shareholders; and (4) approvals from the shareholders of Apollon, the existing shareholders of Apollon will hold circa 93.54 per cent. of the issued share capital of the Company. Following completion of the Investments and should the Company exercise the Right of First Refusal, the resulting enlarged group will be a vertically integrated medicinal cannabis group with operations in Jamaica and with plans to expand elsewhere throughout the world. David Lenigas, Executive Chairman of AfriAg Global PLC, commented; "I'm please to close this Stage 1 Placing of GBP300,000. When these proceeds are cleared, the first GBP300,000 proposed investment in to Apollon will be targeted towards opening Apollon's first revenue generation businesses at Doc's Place Wellness Center and Apollon's first dispensary and processing facility in Negril, Jamaica and will secure the option to acquire 660 acres of prime agricultural land for future cultivation expansion. AfriAg is one of the very few companies in the UK and indeed Europe that is capable of doing a transaction of this type in the legal medicinal cannabis sector. Once the Right of First Refusal is agreed and exercised, we will be the first listed company in the UK to be a fully integrated medical cannabis pharmaceutical company. Subject to the Right of First Refusal being agreed and entered into, the exercise of the Right of First Refusal may constitute a reverse takeover under Rule 57 of the NEX Rules." Business overview of Apollon and its assets: Apollon, an international medicinal cannabis pharmaceutical company, principally conducts business through Apollon Formularies Jamaica Limited ("AFJ "), which is a government licensed medicinal cannabis company located in Jamaica. Apollon, both directly and through its subsidiaries and affiliates such as AFJ, has developed a suite of proprietary, trade secret, medical cannabis strains, technology, pharmaceutical products and therapeutic applications and AFJ is licensed and approved to cultivate, process, manufacture, perform research and develop, sell and distribute within the legalized hemp and medical cannabis industry in Jamaica. AFJ is licensed and approved to operate on the national (Federal) level in Jamaica via the following licenses and approvals: Retail (Therapeutic) License, Processing License, and Cultivation Conditional Approval pending final inspection of the cultivation facility all issued by the Cannabis Licensing Authority (CLA). AFJ has also received an approval Order for Cultivation and Clinical Trials. Together, these licenses and approvals allow for the cultivation, processing, manufacture, research and development, and retail sales of medical cannabis pharmaceuticals in Jamaica and, export internationally when the forthcoming regulations are finalized by the Jamaican government which is expected in the near future. It is expected that these regulations will allow legal export from CLA Licensed companies in Jamaica to any country where Apollon has purchase agreements and the laws of that country allow import of medical cannabis pharmaceutical products. Along with patient care and its research and development programme, Apollon, both directly and through subsidiaries and affiliates such as AFJ, has created and obtained proprietary hybrid medical cannabis pharmaceutical strains, technology, formulations, and treatment products. Many of these formulations were created using Apollon's proprietary artificial intelligence techniques and include: * Apollon NAUSEAT * Apollon PAINT * Apollon SLEEPT * Apollon ANTI-INFLAMMATORYT * Apollon SEIZUREST * Apollon APPETITET * Apollon CANCERT(APMT) - High Times Cannabis Cup 1st Place Winner. The patient treatment side of AFJ's business is accomplished through physician managed clinical treatment wellness resorts and retail locations within Jamaica. In particular, AFJ has an arrangement with Doc's Place International, Inc. ("Doc's Place"), which operates the Global Centre of Excellence for Medical Cannabis Therapy in Negril, Jamaica. Doc's Place is an in-patient and out-patient medical cannabis wellness resort, which is used by international and Jamaican patients needing access to licensed physicians with specific expertise in medical cannabis treatment and to be prescribed medical cannabis products as has been legalised in Jamaica since April, 2015. This wellness centre is located in Negril, on the western side of Jamaica and currently has 5 in-patient treatment rooms and additional accommodations for circa 100 out-patients, with plans to expand to an 80 to 100 room in-patient treatment resort with additional accommodations for circa 500 out-patients via the purchase or rental of a second ocean front wellness resort. Any licensed physician in Jamaica, including the physicians working at Doc's Place, can write prescriptions for AFJ's medical cannabis pharmaceuticals. The current research-driven areas of AFJ are focused upon the following: 1. Physician supervised clinical trials for patient outcomes validation, 2. Accurately determined appropriate disease and patient specific formulations created using Apollon's State-of-the-Art proprietary artificial intelligence techniques, 3. Quality dose controlled medical cannabis oil production, 4. Quality controlled legal growth of medical cannabis strains, 5. Extraction methodology, distillation, cannabinoid isolation, purification and pharmaceutical manufacturing. 6. Consistent dosing globally and legally through Apollon's delivery systems including one of the world's first medical cannabis 3D printer capable of precise manufacturing of Apollon's dose - controlled pharmaceutical formulations internationally , and 7. Global brand recognition per a consolidated strategy combined with proprietary medical cannabis strains and products. AFJ's business objectives include the following items being accomplished in the near future: 1. Produce commercial volumes of high-grade, full-strength medical cannabis oil that will be processed at its large scale federally legal processing facility. This facility has State-of-the-Art laboratory extraction equipment with a current capacity of producing approximately 15,000 grams of the highest quality medical cannabis oil per day for retail sales in Jamaica and export to all countries where legal import is allowed. Medical cannabis oil is the primary ingredient for medical cannabis based pharmaceuticals, nutraceuticals, cosmeceuticals, foods and beverages. 2. Initially cultivate Apollon medical cannabis strains in its current greenhouse facility and expand to a 660 acre farm to be acquired or leased. The Company understands this will allow AFJ to grow approximately 1600 pounds of medical cannabis flower per acre per year.As an additional source of revenue, AFJ has established a medical cannabis collective pursuant to which it intends to allow local Jamaican farmers and other international companies to lease portions of its farm to grow medical cannabis strains on a cost plus 20% basis grown through Apollon's farming infrastructure and utilizing AFJ's licences. 3. Own and operate multiple medical wellness resorts, Doc's Place facilities, and retail locations throughout Jamaica offering Apollon's clinical trial tested, pharmaceutical products as produced by AFJ including award-winning Apollon CancerT used to treat cancer patients. 4. Establish and maintain a global market position. Apollon Formularies Jamaica, Limited Apollon holds an indirect 49% interest in the issued share capital of AFJ, a limited corporation existing under the laws of Jamaica, through an arrangement with Dr. Stephen D. Barnhill and is entitled to 95% of the net profit of the business of AFJ. Apollon has entered into an agreement with Dr Barnhill pursuant to which Dr Barnhill has agreed to assign his 49% interest (the maximum allowed under Jamaican law) of the stock in AFJ to Apollon immediately on approval of the assignment by the Cannabis Licensing Authority (CLA). In addition to such interests and rights as described above, AFJ currently has several asset purchase agreements and strategic partnerships in place to fulfil the mission of creating an all-encompassing, worldwide medical cannabis corporation that can satisfy the growing global market for legal, medical cannabis pharmaceuticals. Doc's Place International, Inc. Apollon has an exclusive right to acquire 90% of the stock of Doc's Place, a corporation organized and existing in the State of Georgia, USA, which includes its Wellness Center, the Global Centre of Excellence for Medical Cannabis Therapy located in Negril, Jamaica. In addition to such interest and right, there exists a leasing arrangement between AFJ and Doc's Place for AFJ to be the exclusive cannabis retail location and treatment operation located on the premises. CBev Ventures, Inc. Apollon also has an exclusive right to purchase the assets of CBev Ventures, Inc., a corporation organized and existing in the State of Georgia, USA ("CBev"), a beverage company that develops, markets, distributes and sells functional and craft beverages in the legal hemp and medical cannabis industry. Roxy Industries Ltd. Following the acquisition of CBev, Apollon will hold through CBev an exclusive right to purchase the assets of Roxy Industries Ltd., a Jamaican company that bottles, cans, and packages beverages for its customers. Proposed Transaction Overview: * The Company to subscribe for 1.2 million shares in Apollon at GBP0.25 per share representing 0.71 per cent. of Apollon's issued share capital for an aggregate investment amount of GBP300,000, conditional on being able to raise the required funding; * The Company to subscribe for a further 2.8 million shares in Apollon at a GBP 0.25 per share representing 1.63 per cent. of Apollon issued share capital for an aggregate investment amount of GBP700,000, conditional upon the resolutions at the General Meeting being passed and being able to raise the required funding; · The Company is in discussions with the shareholders of Apollon to be granted the Right of First Refusal to acquire all the issued and outstanding shares owned by those shareholder in consideration for the issue and allotment to those shareholders of new ordinary shares in the capital of the Company at a price of 0.1 pence per new ordinary share which values the transaction at circa GBP40,000,000. Following exercise of the Right of First Refusal, which will be subject to all the necessary regulatory and shareholder approvals, the existing shareholders of Apollon will hold circa 93.54 per cent. of the issued share capital of the Company. * Subject to the Right of First Refusal being exercised: * The Company may add senior Apollon officials and representatives to the board of the Company. + The Company constitute a board of advisors, which will comprise of certain members of the Company's management along with other scientists, physicians and business executives including Dr. Anthony Hall, a US Board Certified Neurosurgeon with special expertise in medical cannabis pharmaceuticals, to join as Chief Medical Officer of the Company Key Apollon Individuals About Dr. Stephen Barnhill (Proposed Chairman and Managing Director of the Company, subject to the Right of First Refusal being exercised) Dr. Stephen D. Barnhill is a physician, Fellowship trained in Laboratory Medicine and Board Certified by the American Board of Bioanalysis. Dr. Barnhill is currently Chairman and CEO of Doc's Place International, Inc., the first Global Centre of Excellence for Medical Cannabis Therapy in Negril, Jamaica, as well as, Chairman and CEO Apollon Formularies, Inc., a U.S. affiliate of Apollon Formularies Jamaica, Limited to which he also serves as President and Board Member. Dr. Barnhill has been a founder, Chairman and CEO of both private and public companies. He was most recently founder, Chairman and CEO of a U.S. publicly traded international biotech company, which he took from inception to profitability. In addition, he was founder, Chairman and CEO of BCL laboratories, LLC with operations in south-eastern U.S. which was acquired by Corning-MetPath, now Quest Diagnostics, the largest clinical laboratory in the world. Dr. Barnhill served as a Medical Director for Quest Diagnostics for approximately 5 years after the acquisition. Dr. Barnhill was also founder, Chairman and CEO of National Medical Specialty Labs, which was acquired by Horus Therapeutics Inc., a New York based pharmaceutical company. Dr. Barnhill served as President of Horus Therapeutics for several years after the acquisition. Dr. Barnhill is a pioneer in artificial intelligence machine learning (pattern recognition algorithms) and an inventor on more than 40 patents including neural networks and support vector machines ("SVM") including the Hallmark SVM-RFE technique now cited by more than 10,000 publications. His patents were part of the intellectual property portfolio that won 1st Place out of 1600 publicly traded companies and was awarded the MICO award from MDB Capital for the most disruptive intellectual property portfolio. Dr. Barnhill's neural network patents were acquired by Johnson & Johnson. He is also an inventor on patents related to laboratory developed tests and tumour markers. His work includes expertise in the clinical laboratory involving clinical chemistry, haematology, microbiology, blood banking, toxicology and immunology, as well as diagnostic test development relating to cancers of the prostate, pancreas, breast and ovary, cytogenetics, flow cytometry, FISH and imaging in digital mammography, and funduscopic analysis of macular degeneration (AMD). He was part of the team that launched the first iPhone app using SVM for melanoma detection. Dr. Barnhill has negotiated and executed deals with many companies, including Pfizer, Corning-Metpath, Quest Diagnostics, Clarient (now GE Healthcare), LabCorp, NeoGenomics, Abbot, Bruker and others. He has published many peer reviewed papers with academics including those from MD Anderson Cancer Centre, Johns Hopkins University Medical Centre, Stanford University Medical Centre and others. He is a frequently invited speaker to medical conferences in the US and internationally. He has raised millions of dollars in start-up and ongoing financing for both private and public companies. Dr. Barnhill is or has been a Member or Fellow of the American College of Physician Inventors, the American College of International Physicians, the American Medical Association, the American College of Physician Executives, the American Association of Artificial Intelligence, the American College of Managed Care Medicine, the Association of Clinical Scientists, the American Society of Contemporary Medicine and Surgery, the American Society of Law, Medicine and Ethics, the Southern Medical Society, the American Federation for Clinical Research, the National Federation of Catholic Physicians and the Society of Cannabis Clinicians. About Dr. Herb Fritsche Herb Fritsche, Ph.D. is a world-renowned Clinical Chemist and was Professor of Laboratory Medicine and Chief of the Clinical Chemistry Section at The University of Texas, M.D. Anderson Cancer Centre in Houston, Texas. During his 41 years at M.D. Anderson Cancer Centre, Dr. Fritsche focused his research activities on the development and validation of cancer diagnostics. Dr. Fritsche has participated in the validation and FDA clearance process for every commercial serum tumour marker product currently in use in the United States. Dr. Fritsche has served as President of the Clinical Ligand Assay Society (CLAS) and on many various national committees for both the CLAS and the American Association for Clinical Chemistry (AACC). He is a Fellow of the National Academy of Clinical Biochemistry and was awarded the National Award for Contributions in Education by the AACC; the Outstanding Clinical Chemist Award by the Texas Section, AACC; a Dean's Excellence Award from the University of Texas Graduate School of Biomedical Science; a Distinguished Scientist Award from the CLAS; the Johnson and Johnson Award for Outstanding Research and Contributions to Clinical Biochemistry from the National Academy of Clinical Biochemistry; the Morton K Schwartz Award for Outstanding Achievements in the field of Cancer Diagnostics from AACC; the Carl Jolliff Award for Lifetime Achievements in Immunology and Immunodiagnostics from the Immunology Division of the AACC; and most recently, the Morton K Schwartz for significant contributions to the development of cancer diagnostics from the New York Metro Division of the AACC. Dr. Fritsche served on the Expert Panel for developing Tumour Marker Practice Guidelines for the American Society of Clinical Oncology (ASCO) from its inception until his retirement, and he currently serves on the Laboratory Practice Guidelines Committee for the National Academy of Clinical Biochemistry. In addition, he serves on the Editorial Board of six international scientific journals. Dr. Fritsche is a consultant/advisor to the National Cancer Institute and for some major international diagnostic companies and biotech start-up companies. Dr. Fritsche has published over 200 peer reviewed scientific papers, invited articles and book chapters. He holds 3 patents. He has lectured extensively for many years at international and national meetings of medical and professional societies, and he is recognized internationally as an expert in the field of clinical chemistry, cancer diagnostics and laboratory medicine. Notice Regarding Forward-Looking Statements This announcement includes "forward-looking statements" involving the Company, the other entities referenced in this announcement, and the respective subsidiaries, affiliates and associates of the Company and such other entities (collective, the "Involved Entities"), which include all statements other than statements of historical facts, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations, and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Involved Entities that could cause the actual results, performance or achievements of the Involved Entities to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Involved Entities and the environment in which the Involved Entities will operate in the future. These forward-looking statements speak only as of the date of this announcement. The Company, on behalf of itself and each of the Involved Entities, expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in expectations of any Involved Entities with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement. The directors of the Company accept responsibility for the contents of this announcement. -ENDS- For further information on AfriAg Global please visit the www.afriagglobal.com or please contact; AfriAg Global Plc: David Lenigas (Executive Chairman) +44 (0)20 7440 0640 Peterhouse Capital Limited +44 (0)20 7469 0930 Guy Miller/Fungai Ndoro |
Posted at 18/7/2017 14:05 by cpap man And finally the AFRI share price [NEX:AFRI] joins in with QBA [TSXV:QBA] with an increasing stock price! |
Posted at 11/5/2017 08:47 by cpap man AfriAg Global PLC(“AfriAg Global” or the “Company” Audited final results for the year ended 31 December 2016 Chairman’s report (incorporating the strategic review) This has been an excellent year for the Company business growth as a global agri-logistics logistics provider, and I am pleased to present the annual report and financial statements for AfriAg Global plc (the “Company” Our global distribution footprint has expanded considerably during the year, as we moved to distributing perishable food products by road, air and sea for and to global customers (South Africa, Mauritius, Mozambique, Zimbabwe, Zambia, DRC, Kenya, USA, UK, France, Holland, Russia, Japan, New Zealand and others). AfriAg Marketing had a very strong year, with revenues growing 54% to £3.035 million during the period, a significant increase from the previous year’s reported revenue of £1.977 million. Specialist global agri-logistics group AfriAg SA, continues to grow at a fast pace and has developed into a significant global logistics enterprise. It has reported a 91% increase in full year revenues to £11.704 million for the twelve months ended 31 December 2016, versus revenues of £6.122 million for the previous year, with a gross profit of £927,000 (2015: £552,000) and a net profit for the year of £104,000 (2015: £359,000). The Company has equity-accounted for its 40% share of this profit for 2016, being £42,000. Gross profit for the Group also increased significantly to £334,000 compared to the £50,000 reported for the previous year. Group Results for the period: The Group’s gross turnover has increased by over 54% to £3.035 million for the year (2015 - £1.977 million). The Group’s net loss after taxation for the year was £9,000 (2015 - £96,000 loss). The Group’s current assets including cash at 31 December 2016 amounted to £1,261,000 (2015 - £810,000). The Group’s 40% owned agri-logistics investment, AfriAg (Pty) Ltd, gross turnover increased 91% to £11.704 million (2015 - £6.122 million) and reported a net profit of £104,000 (2015 - £359,000). Strategic Review for the Period: AfriAg Global was formed only 4 years ago with the view of establishing a global agri-logistics company, with the principal aim of exporting African perishable food products to the global market place. We are now seeing this business plan coming together as envisaged and are now rapidly expanding our operations to providing elite logistic solutions for the timely movement of perishable food not only from Africa to the world but also from the world in to Africa. At the heart of our business is our own global network, fleet and staff based in Johannesburg at our large modern facilities near O.R. Tambo International Airport. The AfriAg HQ is a full-service logistics facility equipped with the latest facilities to meet our customer’s demanding needs. And our global partner network spans strategic road, air and sea routes harnessing our resources across this network enables us to deliver bespoke logistics solutions for our customers. We have strong relationships with our freight counterparties and their branches, fleet, facilities and infrastructure in locations across Europe, Asia, North Americas, and the Middle East. AfriAg has grown to supply our customers with world class global logistics delivering across our global footprint, international and domestic freight transport services, distribution and refrigerated warehousing services through to remote haulage logistics, aviation and marine logistics support services. Delivering these services are our main priority. Collectively, they enable us to efficiently and effectively deliver the solutions our customers are looking for, right around the world. AfriAg Marketing Pty Ltd (100% owned by AfriAg Global Plc): AfriAg Marketing has experienced an excellent year of trading, increasing revenues to ZAR 60.562 million (£3.035 million) in 2016, compared to ZAR 38.395 million (£1.977 million) in 2015. This 54% increase in revenue not only demonstrates strong development, it also reinforces the belief that the company’s low-overhead, grower-focused structure works in today’s market. The model has been keenly welcomed by both growers and end clients. This year, the business has been active in the export, distribution and trading of blueberry, passion fruit, pineapple, apple, strawberry, butternut, peas, fine beans, mange tout, sugar snap, baby corn, chillies, baby veg, and herbs. As well as the UK, the company is now supplying Switzerland, the Netherlands, New Zealand, Russia, and the USA (New York and Los Angeles). In this respect, the addition of a UK office has proven very beneficial in terms of range development and in driving the business into more strategic markets. This maximises the potential of the growers, and the appetite from the market for a more direct relationship with growers has also been welcomed. Profit levels remained good at ZAR 2.057 million (£105,000) despite a forex loss of ZAR 1.297 million (£67,000) caused by the immediate fall-out from the UK’s Brexit vote. The recovery from this exchange rate issue showed that the foundations of the business are strong and augurs well for ongoing growth. The company’s core ethos (of maximising the return to growers, paying them on the best terms available, and ensuring that end clients get exactly what they want) is reaping its reward. Both sides are coming back and asking for more. This we feel is the main reason for continued success and will remain our motivation. The coming year promises more exciting times as the company builds on the foundations laid. The decision to drive into more diverse markets worldwide during periods of economic uncertainty is opening the door to significant growth, and our in-house logistics strength undoubtedly adds huge value. This stands out as a relatively unique offering in the market place. It remains clear that the model is both working and gaining momentum. AfriAg (Pty) Limited (40% owned by AfriAg Global Plc): AfriAg SA is a truly global and fast growing logistics business. Road haulage, air freight and sea freight of fresh and frozen food in to and out of Africa and to many destinations around the world. AfriAg SA now operates logistics services to many major global cities and ports around the globe. The company has turned into a truly global enterprise and we seeing tremendous growth across many markets. We are now one of the largest air freighters of perishable food out of southern Africa using some of the world’s largest airlines and providing bespoke first world logistics to destinations all over the world through our rapidly expanding global network of airlines and agents. AfriAg SA had an outstanding trading year in 2016, reporting an increase of 91% in revenues to £11.704 million in the full year to 31 December 2016, versus revenue of £6.122 million for the previous year, with a gross profit of £927,000, a net profit for the year of £104,000. The Company has equity-accounted for its 40% share of this profit for 2016, being £42,000. Public Trading Platform for the Company’s shares: On 25 January 2016, the Company posted a circular to Shareholders convening a general meeting on 16 February 2016 proposing that Shareholder’s should vote to cancel the admission of the Company's Ordinary Shares to trading on AIM under AIM Rule 41. The Company’s Board had determined that in their view and given the size and stage of development of the Company, that the ISDX Growth Market (now renamed NEX Exchange Growth Market) provides Shareholders with the most appropriate listing platform on which to promote the Company's growth strategy. On 16 February 2016, the Company’s Shareholders voted in favour at that General Meeting to delist from the London AIM market. The Company’s shares ceased trading on AIM market on 24 February 2016 and remain trading on London’s NEX Exchange Growth Market under the Ticker Symbol “AFRI”. Change of Name: The Company changed its name on 25 July 2016, from AfriAg Plc to AfriAg Global Plc to reflect the dramatic changes seen by the business since its birth from an African centric bespoke food logistics business to one that now provides global logistics, food sales, marketing and bespoke distribution services to many corporations and food wholesalers around the world. The Company’s ticker symbol on the London ISDX Growth Market (now called NEX Exchange Growth Market) remained unchanged as “AFRI” and the Company’s new website changed to www.afriagglobal.com Outlook The Company anticipates another year of strong growth. The Company also intends to identify further investments in the African agri-logistics sector, to enhance the AfriAg brand, which has now become very well established. The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further significant progress over the next period and beyond. David Lenigas Executive Chairman |
Posted at 13/5/2016 06:25 by cpap man AfriAg Plc("AfriAg" or the "Company") Final results for the year ended 31 December 2015 Chairman's Statement I am pleased to present the annual report and financial statements for AfriAg plc (the "Company" and, together with its wholly owned subsidiaries, the "Group") for the year ended 31 December 2015. 2015 has been an outstanding year of growth for the Company, with its 100% owned marketing division AfriAg Marketing Pty Ltd ("AfriAg Marketing") generating in excess of 400% increase in revenues to ZAR 38.395 million (£1.977 million) with a net loss for the year of ZAR 0.484 million (£25,000) and total assets of ZAR 6.775 million (£296,000). In addition, the Company is pleased to report that the specialist African agri-logistics group AfriAg SA (Pty) Ltd ("AfriAg SA") in which the Company has a 40% equity shareholding, has now developed into a significant logistics enterprise. It has reported full year revenues to 31 December 2015 of ZAR 119.522 million (£6.155 million), with a net profit for the year of ZAR 6.964 million (£359,000) and total assets of ZAR 47.378 million (£2.073 million). The Company has equity-accounted for its 40% share of this profit for 2015, being £143,000 (2014: £4,000). Group Results for the Period • The Group's gross turnover has increased by over 400% to £1.977 million for the year (2014 - £391,000) • The Group's net loss after taxation for the year was £96,000 (2014 - £835,000 loss). • The Group's current assets including cash at 31 December 2015 amounted to £810,000 (31 December 2014: £945,000). Strategic Review for the Period AfriAg was formed only a few years ago with the view of establishing an agri-logistics investment company, with the principal aim of investing in entities which export African food products to the global market place and we are now seeing this business plan being implemented as envisaged. Our client base has continued to grow, with the Group and its investee company now providing bespoke agri-logistics solutions for several large companies and names in southern Africa and globally. AfriAg Marketing and AfriAg SA have significantly increased their combined fleet of branded "AfriAg" refrigerated trucks over the past year and now currently operate a combined busy fleet of 58 trucks with 52 trucks leased and operated by Afriag SA and 6 trucks by Afriag Marketing. AfriAg Marketing has experienced an excellent year of trading, increasing its revenues in 2015 by over 400% to ZAR 38.395 million (£1,977,000) (compared to ZAR 6.792 million (£391,000) for 2014) resulting from the Company expanding its business operations of trading and transporting fresh food products in and out of southern Africa. The majority of the revenue for 2015 for AfriAg Marketing was generated from the much faster moving fruit and vegetable export markets from southern Africa to many destinations globally. AfriAg Marketing made a strategic decision to focus on exports that had a significantly shorter payment cycle. As such the trading of fish products ceased during the year with AfriAg Marketing instead focussing on trading and transport logistics of these faster moving products. During the year, AfriAg Marketing commenced acquiring its own fleet of branded "AfriAg" refrigerated trucks to cope with the increased demand for its exports. AfriAg Marketing's 100% owned fleet now totals 6 diesel Mercedes trucks and refrigerated 15.2m (30 pallet) trailers painted in AfriAg colours. The new fleet is currently servicing clients transporting fresh produce from Zimbabwe, Zambia, Malawi and Mozambique to Johannesburg for domestic distribution there and for airfreight and seafreight to global markets. AfriAg SA had an outstanding trading year in 2015, expanding its operations significantly with a particular highlight being the record airfreight achieved for the year of 2.56 million kilograms of perishable goods being airfreighted from South Africa, on behalf of clients, to their multiple export markets around the globe. This is an approximate 50% increase on 2014 airfreight numbers of 1.72 million kilograms, making AfriAg SA one of the largest movers of perishable airfreighted food in Southern Africa. AfriAg SA has also opened a new operational headquarters and logistics base of 10,000 square metres in Johannesburg, 6 kilometres from O.R. Tambo International Airport. The new AfriAg SA HQ handles all aspects of the business and is the major staging and refuelling point for AfriAg's growing fleet. Outlook The Company anticipates another year of strong growth as the logistics fleet continues to expand due to the increased demand for our and AfriAg SA's agri-logistics services focused on Africa. We are seeing continued strong growth with airfreight movement in AfriAg SA, having flown over 800,000 kg of perishables for the first four months of 2016 to the end of April. These months are typically the quiet months and are substantially in excess of the 2015 airfreight numbers for the same period. We will continue to increase our logistics trucking capacity and expand our trading model of selling and exporting African fresh food to the world. The Company also intends to identify further investments in the African agri-logistics sector, to enhance the AfriAg brand, which has now become very well established. The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further significant progress over the next period and beyond. Hamish Harris Executive Chairman 12 May 2016 |
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