ANGLO AFRICAN AGRICULTURE PLC: Appointment, subscription for shares & issue of
20 December 2013
Anglo African Agriculture plc ("AAA" or the "Company")
Consultant Appointment, subscription for shares and issue of warrants
The Board of AAA is pleased to announce that Neil Herbert has been appointed as
a consultant to the company. Neil is a well-respected entrepreneur, with a
strong background of managing African businesses and experience in the food
Neil Herbert (47) is an experienced investor who has worked in the resource
sector since he joined Chilean copper miner Antofagasta PLC in 1998, having
previously been employed by PwC in Europe. Until May 2013, he was Co-Chairman
and Managing Director of Polo Resources Ltd until, which was one of the most
successful resource investors during his four years as Managing Director. Prior
to joining Polo he was Finance Director of African uranium explorer UraMin
Inc., from its foundation in 2005 until its acquisition in 2007 for $2.5bn.
Neil has managed companies through project acquisitions, disposals, mine
development, stock market listings and fund raisings, and has considerable
experience as both an executive and a non-executive director.
The Company is also pleased to announce that Neil Herbert has subscribed for 6m
new ordinary shares in AAA (the "Subscriptions Shares") at 1.7p amounting to
GBP 102,000 (gross). In addition, Neil Herbert has been granted 6m warrants
exercisable at 2.75p, expiring on 31 January 2017.
It has always been part of the Company's strategy to move onto the AIM market
once it had gained critical mass. As previously announced, the Board considers
that it would be in the Company's best interests to move to AIM and
accordingly, the Board proposes to use certain of the funds raised to finance
its application for admission to trading on AIM. We hope this process can be
completed by the end of Q1 2014.
The Subscription Shares, when issued and fully paid, will rank equally in all
respects with the issued Ordinary Shares, including the right to receive all
dividends and other distributions declared.
Total Voting Rights and Warrants
Following the issue of the Subscription Shares, the Company's issued share
capital now consists of 76,014,705 Ordinary shares.
The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company.
Following the issue of the Subscription Shares, the resulting shareholdings of
the Directors and Neil Herbert are as follows:
Director Shareholding Percentage of
Andrew Monk 2,000,000 2.6%
Douglas Chikohora 2,250,000 3.0%
Consultant Shareholding Percentage of
Neil Herbert 6,000,000 7.9%
FOR FURTHER INFORMATION PLEASE CONTACT:
Anglo African Agriculture plc
Andrew Monk, Chairman
Tel: +44 (0) 20 3005 5001
VSA Capital Limited
Tel +44 (0) 20 3005 5004
Alfred Henry Corporate Finance Limited
Tel: +44 (0) 20 7251 3762
Zeus Capital Limited
Tel +44 (0)161 831 1512
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