StockMarketWire.com – Anglo African Agriculture said it had agreed to acquire Kenya-based port and marine logistics group Comarco for $30m.
The acquisition was subject to an equity fundraising that still required shareholder approval.
Payment would be satisfied by the issue of new shares to the sellers at 0.5p each.
Anglo African Agriculture said its adviser VSA Capital would also conduct an equity raising of around $15m to fund working capital and the growth of the enlarged group.
A vendor placing of around $6m was also anticipated to provide funds for the sellers to settle existing debts and related costs, including capital gains tax.
At 2:02pm: [LON:AAAP] Anglo African Agriculture Plc share price was -0.03p at 0.43p
Story provided by StockMarketWire.com
Jun
10