TIDMDKL
RNS Number : 2674N
Dekel Agri-Vision PLC
28 January 2021
EMBARGOED FOR 16:31 ON 28(th) JANUARY 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF DEKEL AGRI-VISION PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
28(th) January 2021
Dekel Agri-Vision Plc
(" Dekel " or the " Company " ) ( LON : DKL )
PrimaryBid.com Offer
Dekel ( LON : DKL ), the West African focused agriculture
company company , is pleased to announce a conditional offer for
subscription via PrimaryBid (the "PrimaryBid Offer") of new
ordinary shares of EUR0.0003367 each in the Company ("New Ordinary
Shares") at an issue price of 5 pence per New Ordinary Share (the
"Issue Price"). The Company is also conducting a placing of new
Ordinary Shares at the Issue Price by way of an accelerated
bookbuild process (the "Placing") as announced at 16:30 on 28(th)
January 2021.
The PrimaryBid Offer and the Placing are conditional on the new
Ordinary Shares to be issued pursuant to the PrimaryBid Offer and
the Placing being admitted to trading on AIM ("Admission").
Admission is expected to take place at 8.00 a.m. on 3(rd) February
2021 . The PrimaryBid Offer will not be completed without the
Placing also being completed.
The Company intends to use the funds raised to acquire a further
16.7% interest in the large scale raw cashew nut ('RCN') processing
project at Tiebissou, Côte d'Ivoire (the "Cashew Project"), which,
if completed, would increase the Company's interest in the Cashew
Project to 70.7%, as explained in the Company's announcement made
at 16:30 on 28(th) January 2021. The balance of the gross proceeds
will be used as working capital to strengthen the Company's balance
sheet and also support the cashew processing project at Tiebissou,
as it commences first production in Q2 2021.
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the www.PrimaryBid.com platform and the PrimaryBid mobile app
available on the Apple App Store and Google Play. PrimaryBid does
not charge investors any commission for this service.
The PrimaryBid Offer, via the PrimaryBid.com platform, will be
open to individual and institutional investors from 16:31 p.m. on
28th January 2021. The PrimaryBid Offer will close at the same time
as the Bookbuilding Process is completed. The Bookbuild is expected
to close not later than 7 a.m. (London) on 29(th) January 2021, but
may be closed at such earlier or later time as the Company's Joint
Broker, in their absolute discretion (following consultation with
the Company), determine. The PrimaryBid Offer may close early if it
is oversubscribed.
The Company in consultation with PrimaryBid reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the Offer without giving any reason for such
rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for New Ordinary Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or call PrimaryBid.com on +44 20 3026 4750.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
For further information please visit the Company's website or
contact:
D ekel A gri-Vision Plc
Youval Rasin
Shai Kol +44 (0) 207 236
Lincoln Moore 1177
PrimaryBid Limited + 44 (0) 203 026
Charles Spencer/ James Deal 4750
Arden Partners Plc (Nomad and Joint Broker)
Paul Shackleton / Ruari McGirr
Dan Gee-Summons (Corporate Finance) +44 (0) 207 614
Simon Johnson (Corporate Broking) 5900
+44 (0) 203 137
1903
Optiva Securities Limited (Joint Broker)
Christian Dennis
Jeremy King
St. Brides Partners
Frank Buhagiar +44 (0) 203 236
Cosima Akerman 1177
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through PrimaryBid.com.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Offer is
not being made into any Restricted Jurisdiction or any other
jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the Offer which is open to existing shareholders and other
investors subscribing via PrimaryBid.com.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com . The terms and conditions on which the Offer
is made, including the procedure for application and payment for
New Ordinary Shares, is available to all persons who register with
PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com .
END
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END
OFFZZGZMVRMGMZM
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January 28, 2021 11:31 ET (16:31 GMT)
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