TIDMRDP 
 
RNS Number : 6823K 
Radicle Projects Plc 
23 April 2010 
 

         Radicle Projects plc 
 ("Radicle Projects" or the "Company") 
 
      Radicle Projects sale of interests in Grains Co-Production Project 
 
Radicle Projects, the AIM quoted UK company which owns and operates Australian 
agribusiness assets, is pleased to announce that it has completed the sale of 
its interest in the Grains Co-Production Project 2008 (the "Grain Project"). 
 
The Grain Project is an established Managed Investment Scheme.  Radicle acquired 
1,500 units in the Grain Project in July 2008.  Radicle has now sold all units 
to Australian Agricultural Contracts Ltd ("AACL"), the Grain Project management 
company, at a net price of $2,333.33 per unit, for a total consideration of 
AU$3,500,000 (GBP 2,092,175). The consideration comprises AU$3,000,000 in cash 
and 2.0 million new shares in AACL at AU$0.25 per share.  AACL recently raised 
AU$9.0 million through a placing of new ordinary shares at AU$0.25 per share in 
connection with its initial public offering on the Australian Stock Exchange 
("ASX") and trading in AACL shares commenced on the ASX on 9 April  2010. 
Radicle has no present intention to sell its shareholding in AACL. 
 
Radicle acquired the Grain Project units in July 2008 for a total consideration 
of AU$6.6 million (GBP 3.2 million) and immediately received income of 
AU$900,000 (GBP 549,048) in revenues.  Radicle's interests in the Grain Project 
units generated a loss for the Company of AU$0.6 million (GBP 0.3 million) in 
the year to 30 June 2009.  The stated fair value of the Grain Project units as 
at 30 June 2009 in the Company's 2009 accounts was AU$6.090 million (GBP 3.0 
million). 
 
The cash proceeds of the disposal will be used to meet the next interest payment 
on the Company's Series A Convertible Note and to supplement the Company's 
working capital facilities. 
 
Chief Executive Tim Bennett commented "This sale gives Radicle cash and an 
equity interest in AACL, which we expect will perform well in the relatively 
buoyant Australian equity market. Cash will be applied to operational costs of 
Radicle's farm assets and to payment of the deferred interest coupon on 
Radicle's convertible note. It is another step forward for Radicle after the 
renegotiation of the terms of the convertible note earlier this year. 
 
Despite increasing global grain demand, the combination of a very strong 
Australian Dollar and a disappointing grain harvest, as well as a relatively 
depressed global market for Australian grains compared to recent years, lead us 
to conclude that selling this asset now, albeit at a discount to previous 
valuations, is very much in the interests of shareholders. We continue to look 
for full value on all of our asset sales." 
 
Enquires: 
 
+-------------------------------------------+----------------+ 
| Radicle Projects PLC                      | 020 7016 5300  | 
|                                           |                | 
+-------------------------------------------+----------------+ 
| Tim Bennett                               | +61 (0) 3 8611 | 
|                                           | 6711           | 
+-------------------------------------------+----------------+ 
|                                           |                | 
+-------------------------------------------+----------------+ 
| Charles Stanley Securities                | 020 7149 6000  | 
+-------------------------------------------+----------------+ 
| Nominated Adviser and Broker              |                | 
+-------------------------------------------+----------------+ 
| Russell Cook / Ben Johnston               |                | 
+-------------------------------------------+----------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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