LONDON (Thomson Financial) - Radicle Projects Plc. said it has acquired
interests in two managed investment scheme projects involved in apple production
for A$3.98 million cash.
The AIM-listed company also said it has acquired 19.22 percent stake in
Rivercorp Pty Ltd. for A$350,000.
The company said it acquired 200 units in the AHM Organic Apple Project in
the Nangwarry Region of South Australia for A$2.64 million and 25 hectares of
the AHM Early Season Apple Project 2007 through the purchase of 100 units for
A$1.34 million.
Radicle said it anticipates that the projects will achieve an average price
of A$1,200 per tonne for the organic apples produced by the Organic Apple
Project and A$1,000 per tonne for Early Season Apples.
Cash income from sales is expected from 2010 and to continue to rise to an
anticipated annual yield of 60 tonnes by 2015, it added.
TFN.newsdesk@thomson.com
ndi/wj
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