Agriterra Ltd Update on the MBO of Sierra Leone Cocoa Assets (5817T)

TIDMAGTA

RNS Number : 5817T

Agriterra Ltd

06 January 2017

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.

** ENDS **

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   Tel: +44 (0) 
                          Europe              20 7894 7000 
 Michael Reynolds        Cantor Fitzgerald   Tel: +44 (0) 
                          Europe              20 7894 7000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 06, 2017 10:35 ET (15:35 GMT)