Anglo African Ag PLC Subscription

 
TIDMAAAP 
 
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 GBP140,000 (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                       [phone] 
 
David Lenigas, Non-Executive Chairman 
 
Rob Scott, Non-Executive Director 
 
VSA Capital Limited (Financial Adviser and          [phone] 
Corporate Broker) 
 
Andrew Raca 
 
 
 
 
END 
 

(END) Dow Jones Newswires

October 26, 2017 02:00 ET (06:00 GMT)