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Acquisition of Fertiliser Trading Subsidiary

RNS Number : 2331K
African Potash Ltd
29 December 2015
 

  African Potash Limited / Index: AIM / Epic: AFPO / Sector: Mining

29 December 2015

African Potash Limited ('African Potash' or 'the Company')

Acquisition of Fertiliser Trading Subsidiary

 

African Potash, the AIM listed exploration company focused on the vertical integration of fertiliser operations in Africa and sub-Saharan potash assets, is pleased to announce that, further to the agreement with Beryl Holdings (Pty) Ltd ('Beryl Holdings') announced on 1 December 2015, African Potash has acquired, via its wholly owned subsidiary, African Fertilisers Limited, 100% of a newly formed Mauritian company under which Beryl Holding's main fertiliser trading activities (which include trading, logistics and financing) will be restructured and operated The new subsidiary is named African Fertilisers (Mauritius) Limited ('African Fertilisers').

 

African Potash Executive Chairman Chris Cleverly said, "I am delighted to provide this update on our fertiliser trading operations as our strategy to generate immediate cash flow from trading begins to bear fruit for the Company." 

 

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For further information visit www.africanpotash.com or contact the following:

 

Chris Cleverly

African Potash Limited

+44 (0) 20 7236 1177

Stewart Dickson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Jeremy Stephenson

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000      

Carrie Drummond

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000     

David Porter

Cantor Fitzgerald Europe

+44 (0) 20 7894 7000     

Colin Rowbury

Cornhill Capital Limited

+44 (0) 20 7710 9610

Charlotte Heap

St Brides Partners Ltd

+44 (0) 20 7236 1177      

Susie Geliher

St Brides Partners Ltd

+44 (0) 20 7236 1177 

 

About African Potash

 

African Potash is an AIM quoted company focussed on building a vertically integrated platform for the mining, production and distribution of fertiliser, primarily within Africa. 

 

The Company has a trading agreement with the Common Market for Eastern and Southern Africa ('COMESA'), a free trade union for twenty African member states, to supply and deliver at least 500,000 metric tonnes of fertilisers on an annual basis to off-takers identified and introduced by COMESA. 

 

The Company also operates the Lac Dinga Project in the Republic of Congo, which is prospective for potash, a key source of potassium fertiliser.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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