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LONDON - PACSCo Limited, an AIM-quoted company focused on African agriculture, announced today that it is nearing the completion of its previously announced disposal of agricultural assets in Mozambique. The process has encountered delays due to unforeseen regulatory engagement issues in Mozambique, but the company remains optimistic about meeting its objectives within the next three months.
The sale, which was approved by shareholders on March 31, 2025, is part of PACSCo’s transition towards becoming an AIM Rule 15 cash shell. The company, formerly known as Agriterra Limited, has been actively engaging with local regulators to fulfill the necessary requirements and procedures to finalize the disposal. According to the terms of the agreement, the company has a 180-day longstop date to complete the sale.
PACSCo anticipates that once the local Mozambican regulatory approvals are secured, the asset disposal will formally conclude. This will mark a significant shift in the company’s business structure, as it will then be officially designated as a cash shell, which is a company with its primary purpose being the holding of cash or equivalent and seeking a reverse takeover, acquisition, or investment.
Further details regarding the disposal and the company’s transition can be found in the circular dated March 10, 2025, available on PACSCo’s website. The completion of this transaction is expected to have a material impact on the company’s financial and operational strategy moving forward.
The information regarding these developments is based on a press release statement and is now considered to be public domain following the announcement.
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