Fundraising Update

RNS Number : 1622I

Dekeloil Public Limited

07 August 2019

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.  Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

7 August 2019

DekelOil Public Limited

("DekelOil" or the "Company")

Satisfaction of certain conditions to the Fundraising

DekelOil, the West African focused agricultural company, is pleased to confirm that, further to the announcements released at 07.01 on 22 July 2019 and 09.35 on 23 July 2019, the conditions to the completion of the Fundraising, except for the issue, allotment and Admission of the new Ordinary Shares have now been satisfied.  Accordingly, the Board has approved and instructed the Company's registrar to issue and allot the 11,500,000 new Ordinary Shares pursuant to the Placing, 17,034,371 new Ordinary Shares pursuant to the Subscription and 41,188,990 new Ordinary Shares pursuant to the Subscription by leading African agriculture social impact investor, AgDevCo Limited.

Admission to trading on AIM

Application has been made for the 69,723,361 new Ordinary Shares to be admitted to trading on AIM ('Admission').  It is expected that Admission will occur on 8 August 2019. 

Total voting rights

Following Admission, the total issued share capital of the Company will be 423,064,443 Ordinary Shares.  The Company has no Ordinary Shares in treasury.  Therefore the total number of voting rights in the Company is 423,064,443 and this figure should be used by shareholders of the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released at 07.01am on 22 July 2019 unless the context requires otherwise.

  ** ENDS **

For further information please visit the Company's website or contact:

DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore [phone] Cantor Fitzgerald Europe (Nomad and Joint Broker) David Foreman (Corporate Finance) Keith Dowsing (Equity Sales) [phone] VSA Capital (Joint Broker) Andrew Monk (Corporate Broking) Andrew Raca (Corporate Finance)  [phone] Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King [phone] St Brides Partners Ltd (Investor Relations) Frank Buhagiar Cosima Akerman [phone]

Notes:

DekelOil Public Limited is a multi-project, multi-commodity agricultural company focused on West Africa.   It has a portfolio of projects in Côte d'Ivoire at various stages of development: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders is processed at the Company's 70,000tpa crude palm oil mill; a cashew processing project in Tiebissou, which is due to commence production in 2020; and a second palm oil project in Guitry which is under development.     

 

END

 

 

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