TIDMDKL

RNS Number : 3184S

Dekel Agri-Vision PLC

08 July 2020

Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers

08 July 2020

Dekel Agri-Vision Plc ('Dekel' or the 'Company')

First Shipment of Cashew Milling Equipment

Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to announce that it has been advised by Italian manufacturer, Oltremare Srl, that the first shipment of milling equipment for its large scale cashew processing project at Tiebissou in Côte d'Ivoire (the 'Project'), has departed Italy. The shipment is expected to arrive at the port of Abidjan in Côte d'Ivoire in approximately four weeks.

The shipment, which is the first of four due to be despatched from Italy, comprises 12 containers and includes electrical, dryer, steam roasting and workshop equipment. The remaining three shipments of milling equipment are expected to be shipped and delivered to Côte d'Ivoire in the coming months. Further updates on all four shipments will be provided to the market in due course.

As previously announced, a turnkey contract for the engineering, manufacture, delivery, installation and commissioning of the Project, together with the training of personnel, was awarded to UK-based engineering company Overseas Projects & Services Limited ('OPSL'), a related entity of Oltremare Srl. Under the terms of the turnkey contract, OPSL will deliver the plant, including storage and factory buildings, processing machinery and utilities once it has been fully tested and commissioned which is expected in Q2 2021. At this point Tiebissou will become Dekel's second producing project, alongside its well-established palm oil operation at Ayenouan in Côte d'Ivoire.

Dekel Agri-Vision Executive Director Lincoln Moore said, "The departure of the first shipment of milling hardware from Italy closely follows the arrival of infrastructure equipment at Abidjan from China. The development of our large-scale cashew processing project at Tiebissou is gaining momentum and remains on track to be commissioned in Q2 2021. I look forward to providing further updates on our progress as we focus on bringing our second agriculture project in Côte d'Ivoire into production and at the same time scale up and diversify our revenues and end markets."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

** ENDS **

For further information please visit the Company's website at www.dekelagrivision.com or contact:

 
   Dekel Agri-Vision Plc 
     Youval Rasin 
     Shai Kol 
     Lincoln Moore                                 +44 (0) 207 236 1177 
    Arden Partners Plc (Nomad and Joint Broker) 
     Paul Shackleton / Ruari McGirr / 
     Dan Gee-Summons (Corporate Finance) 
     Simon Johnson (Corporate Broking)             +44 (0) 207 614 5900 
    Optiva Securities Limited (Joint Broker) 
     Christian Dennis 
     Jeremy King                                   +44 (0) 203 137 1903 
    St Brides Partners Ltd (Investor Relations) 
     Frank Buhagiar 
     Cosima Akerman 
     Megan Dennison                                +44 (0) 207 236 1177

Notes:

Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company focused on West Africa. It has a portfolio of projects in Côte d'Ivoire at various stages of development: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders is processed at the Company's 60,000tpa crude palm oil mill; a cashew processing project in Tiebissou, which is due to commence production in 2021; and a second palm oil project in Guitry which is under development.

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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July 08, 2020 02:00 ET (06:00 GMT)

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