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Dekel Agri-Vision PLC - West Africa-based agriculture company - Uses €9.2 million from €15.2 million received from seven-year bond facility to pay off debt. Uses €3.6 million to pay AgDevCo Ltd, which cuts its debt to the African agriculture investor by 50%.
‘Our discussions with our debt providers continue and we will provide further updates as appropriate as we continue with our objective to optimise our debt structure in the best interests of the company and its shareholders,’ it says. ‘Whilst use of funds decisions are considered, surplus funds on hand are currently held on short term deposit with a 4% interest rate return.’
Current stock price: 3.20 pence, up 3.2% in London
12-month change: down 33%
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