PACSCo Limited, an international company with investments in the agricultural sector in Mozambique, announced changes to the agreement for the disposal of its agricultural assets in the country, extending the transaction deadline to 31 March 2026 and introducing the requirement of approval by the Bank of Mozambique.
In a statement accessed by Diário Económico, the company explained that the changes result from new regulatory guidance issued by the central bank, which now requires its approval as a condition following the initial completion of the deal.
The amendments relate to the agreement signed on 10 March 2025 between PACSCo Limited and Chepstow Investments Limited — an investment company that is also a substantial shareholder in PACSCo — as part of the process of divesting the agricultural assets held by the company in Mozambique.
The parties agreed to “extend the deadline set in the previous consensus to 31 March 2026” to ensure sufficient time to meet the regulatory requirements associated with the transaction.
The new understanding also establishes that “obtaining approval from the Bank of Mozambique for the Mozambican aspects of the underlying transaction” will constitute a subsequent condition, to be fulfilled by 31 March 2026 or any other date mutually agreed in writing by the parties. PACSCo clarified that this transaction is classified as a related-party transaction under Rule 13 of the Alternative Investment Market (AIM) rules of the London Stock Exchange, given that Chepstow Investments Limited holds a significant stake in the company.
In this context, the independent directors — Caroline Havers, Neil Clayton, and Sérgio Zandamela — stated, after consultation with Strand Hanson Limited, a financial institution specialising in capital markets, that “the terms of the amendment agreement are fair and reasonable” for PACSCo Limited shareholders.
Source: Diário Económico
