14th Jun 2023 13:28
Agriterra Ltd - Guernsey-based agricultural investment company - Says subsidiary Desenvolvemento E Comercializacao Agricola Ltda secures USD1.9 million debt facility from First Capital Bank SA to finance and support maize buying operations. Says interest rate on bank facility is 24%. Financed maize will be processed and sold by DECA from its facilities in Chimoio, Mozambique, into the local wholesale and retail markets.
Non-Executive Chair Caroline Havers says: "This will enable us to benefit from a strengthened purchasing position and set up our maize operations for a successful trading, processing and sales season."
Current stock price: 1.12 pence, down 14%
12-month change: down 79%
By Sabrina Penty, Alliance News reporter
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