Result of AGM

RNS Number : 5861A

Agriterra Ltd

21 March 2013

 



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

21 March 2013

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

Result of Annual General Meeting

Agriterra Ltd, the AIM listed pan African agricultural company, held its Annual General Meeting today and all resolutions were duly passed.

** ENDS **

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

Andrew Groves	Agriterra Ltd		Tel: [phone]
David Foreman	Cantor Fitzgerald Europe		Tel: [phone]
Rick Thompson	Cantor Fitzgerald Europe		Tel: [phone]
Andy Cuthill	MC Peat & Co LLP		Tel: [phone]
Susie Geliher	St Brides Media & Finance Ltd		Tel: [phone]

Notes

Agriterra Ltd is an AIM listed agricultural company with five divisions: beef, maize, cocoa, fruit and palm oil.  Its cattle ranching business, Mozbife, has a herd in excess of 5,450 head, a land holding of over 21,000 hectares, a feedlot, a 4,000 head per month capacity abattoir and retail units.  In addition to selling meat from its own herds, throughput for the feedlot and abattoir is supplemented with cattle bought in from local communities.  The Company also owns a proximal banana plantation and macadamia orchard.

The Company's maize buying and milling operations, DECA and Compagri, are located in Chimoio and Tete in central and north-western Mozambique respectively.  These collect maize from circa 350,000 farmers using the Company's own vehicle fleet, process it into maize meal, the African staple, and then sell it back to the local market, into supermarkets and to the World Food Programme.

Agriterra's cocoa business is based in Sierra Leone, through its 100% subsidiary Tropical Farms Limited, which includes buying, trading and production operations.  The Company holds over 1,200 hectares of land for cocoa cultivation and also has a strong buying register with three main hub stores, 41 satellite stores and a direct buying register of more than 3,500 farmers across the country.  Its strategy is to establish itself as a secure, sustainable and traceable source of supply to meet the requirements of the major cocoa consumers who are placing increased emphasis in this area. 

 

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