Update on Mozambique Asset Disposal
Mozambique asset disposal progressing slower than expected; completion targeted within three months.
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PACSCo Limited, the AIM-quoted African agricultural company shortly to be designated an AIM Rule 15 cash shell, provides the following update:
In connection with the proposed disposal of its Mozambique agricultural assets as announced on 10 March 2025 and which was approved by shareholders on 31 March 2025 (the "Disposal"), PACSCo Limited (formerly Agriterra Limited) advises that the process of engaging with local regulators in Mozambique as required to implement the Disposal has taken longer than initially expected due to unforeseen circumstances. Formal engagement is underway and the Company is hopeful of completion of the local requirements/procedures within the next three months (i.e. ahead of the 180 day longstop date in the agreement governing the Disposal).
Once these requirements/procedures have been completed, the Disposal will formally complete and the Company will thereafter be deemed to be an AIM Rule 15 "cash shell". Further information in this regard can be found in the Company's circular dated 10 March 2025 which can be found on the Company's website (www.pacsco.co.uk)."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.