Agriterra Ld Share Discussion Threads

[kaos3] 06/8/2018 12:56

what is going on here?

[rumobejo] 10/1/2018 13:10

Magister paid 32p for 50.01% few months back, now at 13p a screaming takeover, bid on...

[tenapen] 02/1/2018 11:25

All time low for the share price

I had such high hopes but it looks like it is not to be !


I do not hold.

[rascotrading] 04/12/2017 00:26

@cottoner thanks.

[cottoner] 03/12/2017 13:31

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.

[rascotrading] 03/12/2017 09:20

What just happened?

[cottoner] 27/11/2017 16:25

Magister.

Cash subscription by Magister Investments Limited ("Magister") for 1,062,243,291 new Ordinary Shares

· Subscription price of 0.3126 pence per Ordinary Share, represents a premium of 60.3 per cent. to the closing share price of the Company as at 11 August 2017

· Magister will hold 50.01 per cent. of the Enlarged Share Capital immediately following completion of the Subscription

[yorkie123] 27/11/2017 14:57

Share consolidation, 1 for every 100.

[tenapen] 17/11/2017 09:09

The interims are out,


Quote;

Conclusion

The recent investment from Magister marks a new period for the Group during which we hope to benefit from the experience and connections of our new Board members in the wider Sub-Saharan Africa region. As we look to capitalise on the growth that will inevitably come from the development of the LNG industry in Mozambique, we hope to see improvements in the profitability of the Group and its ability to provide a positive return to shareholders.

[rascotrading] 14/10/2017 21:01

Those kinds of news makes me avoid AGTA.

[paul the octopus] 06/10/2017 13:58

Dear Santa, can you take this to 1p

[cottoner] 06/10/2017 08:04

Read the AGTA RNSes from Aug 14th 2017.

[rascotrading] 05/10/2017 22:43

Shares is rising. Any probable cause?

[cottoner] 30/9/2017 19:38

Now getting interesting wrt Mozambique.

Fjet to introduce direct flights to Mozambique.

“All indicators point to robust demand for affordable air services in Mozambique, with the African Development Bank forecasting GDP growth of 5.5% for 2017 and 6.8% next year,“

[stevedevuk] 15/9/2017 21:10

It seems to be ticking up. I wonder if the worst is over.

[eipgam] 15/8/2017 12:58

I always thought a takeover would be more exciting than this....

[paul the octopus] 15/8/2017 11:19

pre takeover, that's what is happening!

[eipgam] 15/8/2017 09:25

Aye aye... what's occurring here?

[freddie01] 18/7/2017 21:17

Wise decision aldermana. Excuse after excuse year after year. This company will never make money.



Agriterra Loss Widens As Results Hit By Tough Conditions In Mozambique
Tue, 18th Jul 2017 11:39

LONDON (Alliance News) - Africa-focused agricultural company Agriterra Ltd said on Tuesday the ten month period ended March 31 saw a fall in both revenue and profit, despite improving conditions in Mozambique.

In February, Agriterra changed its full year accounting reference date to March 31 from May 31.

Revenue for the period was down 30.0% to USD12.8 million from USD18.5 million in the 12 months ended May, while the group's pretax loss widened to USD3.6 million from USD7.6 million.

The group said the recent macro-economic conditions in Mozambique had previously been "very challenging" due to the combination of a decline in commodity prices, a prolonged and severe drought, and the significant weakening of the Mozambique Metical against the US dollar, down 50% in the 12 months ended December 2016.

Agriterra said the environment has improved as a result of a number of factors since the start of 2017, including a ceasefire agreement between the Mozambican National Resistance and Mozambique Liberation Front and the relative stability of the Metical.

However, the group added its 2017 financial year as a whole had been "significantly and negatively impacted" by these difficult trading conditions.

In respect of its grain operations, Agriterra said short term trading conditions worsened, with a sizeable drop in demand to 4,000 tonnes of maize flour in the three months to March, compared to 6,700 tonnes in the same period the year before, and lower prices when compared to December 2016.

The group said this was anomalous to a normal year, when prices and demand usually rise in the period immediately preceding the new harvest, which started in May 2017.

Agriterra said as the economic situation in Mozambique improves, interest rates return to normal levels and maize prices decrease, the group expects to see improvements in net profit generated by its grain division.

The group said there is "good growth potential" in its beef division, with volumes sold in the period increasing to an average of 227 tonnes per month compared to 186 tonnes the year before.

Average monthly beef revenue also improved to 30.4 million Meticais per month from 22.1 Meticais. However, due to the depreciation in the Metical, this translated to a fall in average monthly dollar-denominated revenue to USD434,000 from USD522,000.

Agriterra said its offshore water-based liquefied natural gas platform off the coast of Cabo Delgado, in North East Mozambique, is expected to produce its first exports in 2021 to 2022.

The company said the past three years have been a "particularly difficult period", but the improvements in Mozambique since January are expected to lead to better trading conditions going forwards.

[aldermana] 18/7/2017 09:27

I sold out of this finally this morning. Probably my worst ever investment. Looking at the final results this morning was the final straw. In essence this business generates about $1m per month at a low profit margin. That might be fine except that there are $450,000 per month in administrative costs to support. How can a $12m business need that much administering? It's basically a rip off. Finally, there was about $2.5m of cash left at March end and a cash burn over the last year of about $500k per month. Not looking promising to me.