Agriterra Ltd Corporate Update (9747V)
November 09 2017 - 02:00AM
UK Regulatory
TIDMAGTA
RNS Number : 9747V
Agriterra Ltd
09 November 2017
Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector:
Agriculture
9 November 2017
Agriterra Ltd ('Agriterra' or the 'Company')
Corporate Update
Agriterra, the AIM listed African agricultural company,
announces that with effect from 31 December 2017, Daniel
Cassiano-Silva will step down from his position as Finance
Director; Mr Cassiano-Silva will remain a Non-Executive Director of
the Company thereafter.
In order to ensure a period of smooth transition, the Company
has started the process to find a suitable candidate to assume
responsibility for the Company's financial function during an
interim period whilst the Company looks to hire a full time
Mozambique based group finance director. In addition, Brendan
Scott, current Chief Operating Officer ('COO'), has agreed to take
on the position of acting Chief Executive Officer ('CEO') to
support the local management team as they seek to implement the
Company's development strategies; the Company intends to hire a
permanent CEO (also based in Mozambique) in the coming months, at
which point Mr Scott will revert to his current position of
COO.
Ms Havers, Chair of Agriterra said, "I would like to take this
opportunity to thank Dan for his considerable input into the
development of the Company over the past four years. In particular
we are grateful for his extensive efforts in realising value from
our Sierra Leone assets, facilitating the recent transformational
investment by Magister Investments, and developing our Mozambique
assets. I am confident that in his new role of Non-Executive
Director we will continue to benefit from Dan's extensive
experience in the agricultural industry and particularly his deep
knowledge of, and connection to, Mozambique.
"Alongside Dan's change of role, we are delighted that Brendan
will assume the acting role of CEO. Having managed the Company's
operations as COO since 2015 Brendan has an unrivalled knowledge of
our maize and beef businesses and is ideally suited to oversee
current activity whilst we identify a suitable candidate to assume
the role on a permanent basis. We look forward to further
strengthening our management team in the near term as we look to
become a leading food producer in Mozambique and the region, and
updates will be provided when suitable candidates have been
chosen.
"The Company will be releasing its interim financial statements
for the six month period ended 30 September before our next AGM,
which will be held on 30 November 2017."
** ENDS **
For further information please visit www.agriterra-ltd.com or
contact:
Caroline Havers Agriterra Ltd Tel: +44 (0)
20 7408 9200
David Foreman Cantor Fitzgerald Tel: +44 (0)
Europe 20 7894 7000
Susie Geliher St Brides Partners Tel: +44 (0)
Ltd 20 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
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