AfriAg Global Plc, formerly AfriAg plc, was re-classified as an Investing Company and the following investing strategy has been approved by shareholders:
The Directors intend to seek to acquire a direct and/or an indirect interest in businesses involved in agriculture generally and the production, processing, logistics and distribution of agricultural produce.
The Company will initially focus on opportunities in Europe, Africa and the Middle East but will consider possible opportunities anywhere in the world.
The Company may invest by way of purchasing quoted shares in appropriate companies, outright acquisition or by the acquisition of assets, including the intellectual property, of a relevant business, or by entering into partnerships or joint venture arrangements. Such investments may result in the Company acquiring the whole or part of a company (which in the case of an investment in a company may be private or listed on a stock exchange, and which may be pre-revenue), and such investments may constitute a minority stake in the company, partnership and/or joint venture in question. The Company will not have a separate investment manager.
The Company may be both an active and a passive investor depending on the nature of the individual investments. Although the Company intends to be a medium to long-term investor, the Directors will place no minimum or maximum limit on the length of time that any investment may be held and therefore shorter term disposal of any investments cannot be ruled out.
There will be no limit on the number of businesses into which the Company may invest, and the Company’s financial resources may be invested in a number of propositions or in just one investment.
Investments may be in all types of assets and there will be no investment restrictions. The Company will require additional funding as investments are made and new opportunities arise. The Directors may offer new Ordinary Shares by way of consideration as well as cash, thereby helping to preserve the Company’s cash resources for working capital. The Company may in appropriate circumstances, issue debt securities or otherwise borrow money to complete an investment. The Directors do not intend to acquire any cross-holdings in other corporate entities that have an interest in the Ordinary Shares.