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ANGLO AFRICAN AGRICULTURE PLC: Appointment, subscription for shares & issue of warrants


ANGLO AFRICAN AGRICULTURE PLC: Appointment, subscription for shares & issue of warrants 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 processing industry.

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.

Directors shareholdings

Following the issue of the Subscription Shares, the resulting shareholdings of the Directors and Neil Herbert are as follows:

Director Shareholding Percentage of


                                  the Company's 
                                  ordinary share
                                     capital    

Andrew Monk 2,000,000 2.6% Douglas Chikohora 2,250,000 3.0%

and

Consultant Shareholding Percentage of


                                  the Company's 
                                  ordinary share
                                     capital    

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 Andrew Raca Tel +44 (0) 20 3005 5004

Alfred Henry Corporate Finance Limited Jon Isaacs Tel: +44 (0) 20 7251 3762

Zeus Capital Limited Ross Andrews Tel +44 (0)161 831 1512

END

-0- Dec/20/2013 15:44 GMT

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