Director Shareholding and Issue of Equity

RNS Number : 8481X

Dekel Agri-Vision PLC

10 January 2022

 

Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers

Dekel Agri-Vision Plc ('Dekel' or the 'Company')

Director Shareholding and Issue of Equity

Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to announce that following the commencement of his employment contract on 16 March 2020, Aristide Achy Brou, a non-executive director, elected to receive shares in Dekel rather than cash for all remuneration that became due for the period 1 January 2021 to 31 December 2021.  As a result, a total of 496,169 ordinary shares in the Company will be issued pursuant to his contract. Following this, Aristide Achy Brou will hold 23,211,770 ordinary shares in the Company, representing approximately 4.32% of the Company's enlarged total voting rights.  Aristide Achy Brou has also elected to receive his entire remuneration in shares for the 2022 calendar year.

In addition, pursuant to their contracts, an employee of the Company and certain advisers are to be issued an aggregate of 738,703 ordinary shares in the Company in settlement of fees for services provided.

Application will be made to the London Stock Exchange for the admission of a total of 1,234,872 ordinary shares of €0.0003367   each (" Ordinary Shares ") to trading on AIM (" Admission ").  It is expected that Admission will become effective on or around 14 January 2022. Following Admission, the Company's issued share capital will consist of 537,098,441 Ordinary Shares.

Dekel Executive Director Lincoln Moore said: "Requests from a director to receive shares in Dekel rather than cash in settlement of remuneration in our view represents an endorsement of the Company and its prospects.  We believe that, given the strong results achieved in 2021 and optimism of a further material step up in performance this year, their confidence is well-founded. With this in mind, we look forward to providing further updates on our progress."

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 ("MAR").  Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

** ENDS **

For further information please visit the Company's website www.dekelagrivision.com or contact:

Dekel Agri-Vision Plc Youval Rasin Shai Kol Lincoln Moore	[phone]
Arden Partners Plc (Nomad and Joint Broker) Paul Shackleton / Ruari McGirr / Elliot Mustoe (Corporate Finance)	[phone]
Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King	[phone]
St Brides Partners Ltd (Investor Relations) Frank Buhagiar Cosima Akerman Megan Dennison	[phone]

Notes:

Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture 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 60,000tpa crude palm oil mill; a cashew processing project in Tiebissou, which commenced first production in early January 2022

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Aristide ("Aris") C. Achy Brou
2	Reason for the notification
a)	Position/status	Non-executive director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Dekel Agri-Vision plc
b)	LEI	213800TZMTERFY8P7D14
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of EUR0.0003367 each CY0106502111
b)	Nature of the transaction	Issue of shares in lieu of non-executive Director fee
c)	Price(s) and volume(s)	Price(s) Volume(s) 5.2pence 496,169
d)	Aggregated information	N/A
e)	Date of the transaction	10 January 2022
f)	Place of the transaction	London Stock Exchange, AIM

 

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