Client NewsDekel Agri-Vision Plc: Director Shareholding and Issue of Equity
Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to announce that following the commencement of his employment contract on 16 March 2020, Aristide Achy Brou, a non-executive director, elected to receive shares in Dekel rather than cash for all remuneration that became due for the period 1 January 2022 to 31 December 2022 (“Period”). As a result, a total of 612,554 ordinary shares in the Company will be issued pursuant to his contract. The price of the shares have been calculated as the monthly average of 10 daily VWAPs over the 10 trading days prior to month end during the Period. Following this, Aristide Achy Brou will hold 23,824,324 ordinary shares in the Company, representing approximately 4.27% of the Company’s enlarged total voting rights. Aristide Achy Brou has also elected to receive his entire remuneration in shares for the 2023 calendar year.
Application will be made to the London Stock Exchange for the admission of a total of 612,554 ordinary shares of €0.0003367 each (“Ordinary Shares“) to trading on AIM (“Admission“). It is expected that Admission will become effective on or around 23 March 2023. Following Admission, the Company’s issued share capital will consist of 558,536,353 Ordinary Shares.
Dekel Executive Director Lincoln Moore said: “Aristide’s continuing request to receive shares in Dekel rather than cash in settlement of remuneration in our view represents an endorsement of the Company and its prospects.”
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