Holding(s) in Company

RNS Number : 2967S

Agriterra Ltd

14 May 2009

 



Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture

14 May 2009

Agriterra Ltd ('Agriterra' or 'the Company')

Holdings in Company 

Agriterra Ltd, the AIM listed company focussed on the agricultural sector in central and southern Africa, was notified on 13 May 2009 that following an acquisition of 8,000,000 Ordinary Shares on 12 May 2009, FIL Limited (Fidelity International) now holds 28,000,000 Ordinary Shares of the Company, representing 5.90% of the issued share capital and voting rights of the Company.

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For further information please visit www.agriterra-ltd.com or contact:

Phil Edmonds	Agriterra Ltd	Tel: [phone]
Jonathan Wright	Seymour Pierce Ltd	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Susie Callear	St Brides Media & Finance Ltd	Tel: [phone]

Notes

Agriterra Ltd is an AIM listed established cash generative agricultural company which controls agricultural trading and processing companies DECA and Compagri, and cattle ranching and feedlot production entity Mozbife, all located in Mozambique.  

DECA, founded in 2005, is based in Chimoio in the Manica Province of Mozambique and provides a maize buying/processing operation for circa 350,000 farmers. The maize is collected by the Company's own vehicle fleet and taken to be processed into mielie meal (corn flour), a key ingredient in African cuisine, at the Chimoio headquarters. This is located on a 20 hectare site and consists of 17 1,000 tonne silos, seven warehouses each with capacity for 3,500 tonnes of maize, as well as two milling plants, one workshop and a fleet of over 80 vehicles. The mielie meal is then sold back to the local market, into supermarkets and to the World Food Programme.  

The facility at Chimoio has been replicated at Tete which is based on a 32 hectare site and houses six 1,600 tonne silos, two warehouses each with a 3,500 tonne capacity, one mill, and four staff houses. The Company has a site for a similar facility in Maputo and is also evaluating additional opportunities in rice, cocoa and sorghum in countries including Mali and Tanzania.

 

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HOLILFEREVISLIA