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RNS Number : 5609E

TLA Worldwide PLC

09 May 2017

 

9 May 2017

 

TLA Worldwide plc

 

("TLA" or the "Group")

 

TLA appointed by World Rugby to deliver Tonga v Wales match in Auckland

 

Fixture to be part of "Pasifika Challenge" double-header played at Eden Park in June 2017

 

TLA Worldwide plc (AIM: TLA), a leading athlete representation and sports marketing business, is pleased to announce that it has been appointed by World Rugby as their partner to deliver the Tonga v Wales test match in Auckland this summer. This fixture will be part of a showcase for Pacific Island rugby titled the "Pasifika Challenge" and features in a double-header along with a test match between the New Zealand All Blacks and Samoa.

  

The Pasifika Challenge will be held at Eden Park in Auckland, kicking off at 5.30pm (local time) on Friday 16 June 2017. The Tonga v Wales test match is the first game of the double-header, which will be broadcast live in New Zealand and around the world. 

 

TLA created the Pasifika Challenge double-header in conjunction with New Zealand Rugby ("NZR") after it was appointed by World Rugby to organise the match at a venue in Auckland. TLA was able to arrange for the match to feature in conjunction with the All Blacks v Samoa contest, and present an evening of Pacific Island rugby.  

 

NZR Chief Strategy and Operations Officer, Nigel Cass, said: "The Pasifika Challenge promises to be a great night for Pacific rugby and the Pacific community in New Zealand. Auckland is home to the largest Pacific Island population in the world.  To have Samoa and Tonga playing test matches back to back in an unprecedented double-header will be both special and unique."

 

Bart Campbell, TLA Chairman, said: "TLA is pleased to work with World Rugby to assist with the Tonga v Wales match.  Together with the NZR we have been able to combine the two planned separate games into one great event. The double-header will showcase some of the best Pacific Island rugby talent in a great night for the rugby community in New Zealand and in the Pacific, all on the eve of the exciting 2017 Lions test series."

 

Enquiries:

 

TLA Worldwide
Bart Campbell, Executive Chairman Michael Principe, Chief Executive Officer	+1 212 645 2141
Numis Securities
Nick Westlake and Oliver Hardy (Nomad)	+44 20 7260 1000
Christopher Wilkinson (Broker)
Luther Pendragon
Harry Chathli, Alexis Gore	+44 20 7618 9100

 

About TLA Worldwide

 

 

TLA Worldwide is a leading athlete representation, event management and sports marketing group quoted on AIM-LSE in London. The Group derives revenues from long-term agency relationships with many prominent U.S. and international sports stars, broadcasters and media personalities associated with major sports including the MLB, NFL, NBA, PGA TOUR, AFL, Olympians and Cricketers. In addition, it also provides a range of services in respect of media consultancy, sports sponsorship and event creation, operation and ownership. TLA Worldwide serves its clients from 10 locations worldwide including its offices in London, UK; New York, Newport Beach, San Francisco and Houston, USA; Melbourne, Perth, Adelaide and Sydney, Australia. For more information, please visit www.tlaworldwide.com.

 

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RNS Number : 3974E

TLA Worldwide PLC

08 May 2017

 

8 May 2017

 

TLA Worldwide plc

 

("TLA" or the "Group")

 

TLA appointed by New Zealand Rugby for 125th Anniversary Match

 

World Champions, the All Blacks, will play the Barbarians at Twickenham to celebrate 125th anniversary of New Zealand Rugby

 

TLA Worldwide plc (AIM: TLA), a leading athlete representation and sports marketing business, is pleased to announce that it has been appointed by New Zealand Rugby ("NZR") as their partner to manage and deliver their 125th anniversary match in November this year.

 

The match will see current World Champions, the All Blacks, celebrate the 125th anniversary of NZR with a special commemorative game against the Barbarians at Twickenham on Saturday the 4th of November, for the opening game of their 2017 end-of-year Northern Tour.  It will be the first time the All Blacks have returned to Twickenham since winning the Rugby World Cup in 2015.

 

As the event agency, TLA's role will be to organise and deliver all aspects of the match, and it is a continuation of a strong working relationship between the two organisations.  Previous matches organised by TLA in partnership with New Zealand Rugby include the two sell out All Blacks matches in Chicago, against the USA in 2014 and Ireland in 2016.

 

The game will mark the 11th time that the Barbarians and the All Blacks have played in their history.  The All Blacks have won seven of the previous outings, with the Barbarians winning on two occasions and one draw. The All Blacks last played the Barbarians in 2009 and will be looking to avenge a 25-18 loss in a match that saw South African Bryan Habana score a hat-trick of tries.

 

Steve Tew, CEO of NZR, said: "We are delighted to announce the match against the Barbarians. Like the All Blacks, the Barbarians are part of rugby's rich history and the match later this year is a befitting way to mark our 125th anniversary. Playing the Barbarians is always a special occasion and we think our shared history make this game the most appropriate way to mark our milestone."

 

Barbarians President Micky Steele-Bodger said: "We're thrilled to be renewing one of rugby's great rivalries at Twickenham on November 4 and we believe it will be another classic encounter between two famous teams. The Barbarians expect to bring together some of the world's greatest players to take on the All Blacks and to play with the style and attacking flair that the club's traditions demand."

 

Bart Campbell, TLA Chairman, said: "We look forward to working with the All Blacks again for what will be a showpiece event at Twickenham. A game between the World Champions and the Barbarians will highlight the best rugby has to offer. This match demonstrates our excellent relationship with New Zealand Rugby, whom we are delighted to partner with for this anniversary match, which is another endorsement in our ability to deliver quality sporting events." 

 

 

 

Enquiries:

 

TLA Worldwide
Bart Campbell, Executive Chairman Michael Principe, Chief Executive Officer	+1 212 645 2141
Numis Securities
Nick Westlake and Oliver Hardy (Nomad)	+44 20 7260 1000
Christopher Wilkinson (Broker)
Luther Pendragon
Harry Chathli, Alexis Gore	+44 20 7618 9100

 

About TLA Worldwide

 

 

TLA Worldwide is a leading athlete representation, event management and sports marketing group quoted on AIM-LSE in London. The Group derives revenues from long-term agency relationships with many prominent U.S. and international sports stars, broadcasters and media personalities associated with major sports including the MLB, NFL, NBA, PGA TOUR, AFL, Olympians and Cricketers. In addition, it also provides a range of services in respect of media consultancy, sports sponsorship and event creation, operation and ownership. TLA Worldwide serves its clients from 10 locations worldwide including its offices in London, UK; New York, Newport Beach, San Francisco and Houston, USA; Melbourne, Perth, Adelaide and Sydney, Australia. For more information, please visit www.tlaworldwide.com.

 

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RNS Number : 0058E

Pennant International Group PLC

03 May 2017

 

                                                                                                           

 

3 May 2017

 

Pennant International Group plc

£2 million Contract Extension confirmed by Lockheed Martin Corporation

 

Lockheed Martin (UK) Limited exercises options on training contract for aircrew and engineering staff first announced in H1 2016

Pennant International Group plc ("Pennant"), the AIM quoted supplier of integrated logistic support solutions, products and services, principally to the defence, rail, aerospace and naval sectors and to Government Departments, is pleased to confirm that its wholly owned subsidiary, Pennant Training Systems Limited, has been notified that Lockheed Martin (UK) Limited, the UK subsidiary of the Lockheed Martin Corporation ("LMC"), one of the world's leading aerospace and defence contractors, has exercised its option to increase the value of the contract announced on 16 June 2016, from its initial value of £0.2m to in excess of £2.2m.  This extension is scheduled for delivery across 2017 and 2018 and is supportive of current expectations.

Commenting, Pennant CEO Phil Walker, said: "This anticipated extension to the existing LMC contract helps to underpin current market revenue forecasts and will also make a valuable contribution to 2018 revenues.

"It also represents very important additional business from one of the world's leading aerospace and defence contractors and is positive proof of the skills, expertise and international reputation Pennant continues to enjoy. We look forward to further developing the relationship and to delivering another world-class training solution".

 

Enquiries:

Pennant International Group plc	www.pennantplc.co.uk
Philip Walker, CEO	+44 (0) 1452 714 881
WH Ireland Limited	www.whirelandplc.com
Mike Coe / Ed Allsopp	+44 (0) 117 945 3470
Walbrook PR (Financial PR)	paul.vann@walbrookpr.com
Paul Vann / Tom Cooper	+44 (0)20 7933 8780

 

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RNS Number : 8987D

Trakm8 Holdings PLC

03 May 2017

 

TRAKM8 HOLDINGS PLC

 

("Trakm8" or the "Group")

 

Direct Line Group Awards Trakm8 Telematics Contract Extension

 

 

Trakm8, the AIM-listed telematics and data insight provider, is pleased to announce it has been awarded a contract extension by Direct Line Group, the UK's leading motor vehicle insurance company.

 

The contract extension covers the provision of T10 hardware and data services supplied to Direct Line that was first announced by Trakm8 in January 2014. The new extension will extend the contract until April 2020.

 

Trakm8 have over 110,000 devices reporting in insurance applications built from a zero base three years ago and Direct Line are a significant part of this.

 

John Watkins, Executive Chairman of Trakm8 commented: 

"We have been working with Direct Line for 3 years providing insurance telematics solutions. We were the first company to offer a plug in self fit device in volume in the UK and the success of the product has resulted in this contract being extended for a further 3 years. We are delighted to continue this relationship as the demand increases. This contract provides additional visibility for our expectations for the financial year and beyond."

 

Dan Freedman, Director of Motor Insurance commented:

"We have been pleased to extend the contract with Trakm8 for a further 3 years. We expect to continue to deploy market leading telematics solutions in conjunction with them and the Floow, as Apps and data analytics provider."

 

 

For further information please contact:

 

Trakm8 Holdings plc	+44 (0) 174 785 8444
John Watkins, Executive Chairman
James Hedges, Finance Director
finnCap (Nomad and broker)	+44 (0) 20 7220 0500
Ed Frisby / Simon Hicks – corporate finance
Tim Redfern / Richard Chambers – corporate broking
MHP Communications	+44 (0) 20 3128 8100
Reg Hoare
Charlie Barker

 

 

 

About Trakm8

Trakm8 is a UK based Big Data company utilising telematics as its primary enabler. Through IP owned technology, over three billion miles worth of data is collected annually through its fleet management solutions to create and fine tune algorithms used to score driver behaviour, monitor vehicle health and continuously improve the security and operational efficiencies of customers' vehicles.

 

With its headquarters in Dorset and a manufacturing facility in the West Midlands, the Group supplies a number of well-known customers in the fleet management and insurance sectors across the UK and further afield including customers such as the AA, Saint Gobain, EON, Direct Line Group and Young Marmalade.

 

The Group's portfolio offers complete telematics solutions including dashboard cameras that enable customers to record driving incidents and mitigate the risk from "crash to cash" accidents. This is complemented through a comprehensive hardware range, which includes a self-install unit that is one of the smallest available on the global market.

 

The Group acquired both Route Monkey and Roadsense Technologies Ltd. Route Monkey has enhanced Trakm8's logistics solution offering route scheduling and optimisation, including routing for electric vehicles. Roadsense has been acquired to strengthen the Group's presence in the SME fleet management market.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

 

www.trakm8.com / @Trakm8

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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RNS Number : 9744D

N4 Pharma PLC

03 May 2017

 

3 May 2017

N4 Pharma Plc

("N4 Pharma" or the "Company")

Admission and First Day of Dealings

N4 Pharma Plc (AIM: N4P), a specialist pharmaceutical company which reformulates existing drugs and vaccines to improve their performance, is pleased to announce the readmission today of the Company's ordinary shares to trading on AIM and the commencement of dealings in the New Ordinary Shares under the ticker N4P ("Admission").

Summary:

·     Change of name to N4 Pharma Plc (formerly Onzima Ventures Plc) effective

·     £1.5 million (gross) raised by way of a placing of 21,428,571 New Ordinary Shares at 7p per share

·     The number of Ordinary Shares in issue immediately after Admission will be 71,714,258 giving the Company a market capitalisation of £5 million at the placing price of 7p per ordinary share

·     The net proceeds of the placing will be used to fund development of additional patent applications for reformulations of a wide range of generic drugs, to undertake clinical trials for N4 Pharma's reformulation of sildenafil, commonly known as Viagra, and for working capital purposes  

Defined terms used in this announcement shall have the same meaning as in the Company's admission document published on 13 April 2017, copies of which are available at: www.n4pharma.com

Nigel Theobald, CEO of N4 Pharma, commented: "I am delighted that the acquisition has been completed after what has been a difficult few months for Onzima's shareholders. Today's listing on AIM marks an important milestone in the continued growth of N4 Pharma and I am determined to reward the patience of existing shareholders and look forward to rewarding those new shareholders who have joined us as part of the Admission.

"Reformulating drugs that are either off patent or coming off patent enables us to improve the experience for their end users in a number of potential ways, but in so doing ensuring we have patent protection around these new versions of the products. Our immediate focus is on the reformulation of sildenafil, commonly known as Viagra, for the treatment of erectile dysfunction, a market which had global annual sales in 2016 of approximately $4.6 billion* and more will follow in the coming months. 

"The Board has extensive experience in this field, both from a pharmaceutical and commercial point of view and, in Opal IP, we have the ideal partner for our patent work.

"Our vaccine delivery system continues to be encouraging and we will demonstrate its point of difference with a view to 'launching' it to the vaccine community later this year."

*source: Evaluate Pharma

 

Enquiries:

N4 Pharma CEO, Nigel Theobald	Via Alma PR
Stockdale Securities Tom Griffiths	Tel: +44(0)207 601 6100
Beaufort Securities Elliot Hance	Tel: +44(0)207 382 8300
Alma PR Josh Royston Robyn Fisher	Tel: +44(0)778 090 1979 Tel: +44(0)754 070 6191

 

About N4 Pharma

N4 Pharma was formed in 2014 by Nigel Theobald, the former Chief Executive of AIM quoted Oxford Pharmascience Group plc. It is a specialist pharmaceutical company which reformulates existing drugs and vaccines to improve their performance.

N4 Pharma's reformulation work falls under two divisions:

• generic, already commercialised, drugs; and

• delivery of novel and existing vaccines.

N4 Pharma has identified a number of established drugs that could be improved upon through its reformulation techniques. N4 Pharma's most advanced reformulation is for sildenafil, widely marketed as Viagra, where N4 Pharma is seeking to improve the speed at which the drug takes effect whilst also extending its duration of action.

N4 Pharma's reformulation approach should take approximately three years to obtain regulatory approval as opposed to the traditional process for new drugs of on average ten years. The cost and risk profile of this model is also significantly less than the traditional process. N4 Pharma's business model is to take reformulated drugs from its portfolio through to the stage where it will license its newly reformulated drugs to pharmaceutical companies to commercialise them. N4 Pharma's revenues should be derived from up front milestone and royalty payments associated with the licence.

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RNS Number : 7516D

EU Supply PLC

02 May 2017

 

2 May 2017

EU Supply plc

("EU Supply", the "Company" or the "Group")

 

Contract win

 

EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has entered into a contract with Sogn & Fjordane County Council and participating municipalities (the "Customer") in Norway for up to 28 local and regional authorities and other public sector bodies to use EU Supply's CTMTM platform.

 

The Customer represents a regional collaboration which involves a number of local and regional authorities using the CTMTM platform on a similar basis to that set out in the Company's contract win for another regional collaboration in Norway announced on 19 January 2017.

 

The contract is expected to generate total revenues of up to £250k over 8 years, including licences and support, implementations and integrations.

 

 

               

 

FURTHER ENQUIRIES

EU Supply PLC Tel: 020 7127 4545 Thomas Beergrehn, CEO   Mattias Ström, CFO       Stockdale Securities Tel: 020 7601 6100 Tom Griffiths, David Coaten

 

A copy of this announcement is available at www.eu-supply.com.

 

Notes to Editors

EU Supply is the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, which has an established, market-leading, multilingual e-procurement platform for esourcing, e-tendering and contract management, tailored for the highly regulated European public sector market.

Since 2006, the Group has invested heavily in employing specialist programmers to add functionality, legal compliance as required and security features to its Complete Tender Management™ ("CTM™") platform to ensure that the Group is ideally placed to secure new contracts with EU Member States and their Contracting Authorities. The platform is available in 16 different languages.

The Directors believe that the Group's CTM™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 7,000 European public sector bodies in 9 EU/EEC Member States and has National Procurement System status in four Member States (the UK, Ireland, Norway and Lithuania).

The Company's shares were admitted to trading on AIM in November 2013. In August and September 2015, the Company raised a total of £2.061m (before expenses) through a placing of new shares and the issue of first and second tranches of Convertible Loan Notes to institutional and other investors.

This information is provided by RNS

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RNS Number : 4552D

Croma Security Solutions Group PLC

27 April 2017

 

Croma Security Solutions Group Plc

("CSSG", the "Company" or the "Group")

New Contract Wins

 

CSSG, the AIM listed total security services provider, is pleased to announce three new contract wins for its unique Fastvein technology. Two of the orders relate to the education sector and the third to a consortium of highways contractors. All have chosen Fastvein as their technology of choice for identity management and access control. The orders total £300,000 over the next year.

Commenting on the contract wins, Sebastian Morley, Chairman of CSSG, said: 

"We are delighted to have won these contracts after our clients had run a rigorous round of trials and tests with competitors' products. Fastvein is expanding its reach and clients are beginning to realise its full potential in identity management. Introducing disruptive technology is a long process but Fastvein is gaining vigorous momentum and we look forward to updating the market on further progress as appropriate."

Enquiries:

Croma Security Solutions Group Plc                                                                                                                   07768 006 909

Sebastian Morley (Chairman)

 

WH Ireland                                                                                                                                                            0207 220 1666

(Nominated Adviser and broker)

Paul Shackleton

Nick Prowting

 

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RNS Number : 5137D

The Mission Marketing Group PLC

27 April 2017

 

 

 

The Mission Marketing Group plc

Acquisition of RJW & Partners

 

 

The Mission Marketing Group plc ('the missiontm', "the Company", AIM: TMMG), the marketing communications and advertising group, is pleased to announce that it has acquired RJW & Partners Ltd ('RJW'), a company providing consultancy services to the pharmaceutical and medical devices industries, working in pricing, market access and payer communications. Initial consideration is £1.75m for the business and £0.23m for cash balances held.  £1.88m is payable in cash and £0.1m will be satisfied through the issue of 237,117 new ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares"). Further consideration of up to £4.25m is payable subject to financial performance in 2017, 2018, 2019, and 2020, of which 5% is payable in shares and 95% payable in cash.

 

About RJW

 

Established in 2008, RJW is a UK-based consultancy with around 30 employees and external consultants who specialise in pricing and market access strategy, tactics and communications in all major markets and world regions. The Company works with a wide range of clients in the pharmaceutical sector, including AstraZeneca, Shire and Novartis.  RJW will operate as part of Mission Healthcare, adding an important and new global market access capability to the missiontm's existing skills in medical communications. 

 

In the 12 months to 31 March 2016, RJW had a turnover of £1.6 million, profits of £0.4 million and at 31 March 2016, had total assets of £0.2 million.

 

Commenting, David Morgan, Executive Chairman of the missiontm said:

 

"I am delighted to welcome RJW to the missiontm portfolio. The addition of RJW provides us with a world-class team in the fast-growing specialism of pricing and market access.

 

We are confident that the addition of this capability to our strong marketing communication credentials will provide an enormously compelling Healthcare offer for existing and new Clients alike. We look to the future of Mission Healthcare with great excitement."

 

Neil Johnson, Director of RJW said:

 

"We are extremely pleased to be joining the missiontm Healthcare team. We are convinced that in the missiontm we have found the perfect partner with which to grow."

 

Application has been made for the 237,117 new Ordinary Shares issued as initial consideration, which will rank pari passu in all respects with the existing Ordinary Shares of the Company, to be admitted to trading on AIM, which is expected to be effective from 8.00 am on 4 May 2017.  Subsequent to the issue of these new Ordinary Shares, the total issued share capital of the Company will be 84,357,351 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Accordingly, after Admission, the total number of voting rights in the Company will be 84,357,351.

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

 

Enquiries:
The Mission Marketing Group plc	020 7462 1415
David Morgan, Executive Chairman Peter Fitzwilliam, Finance Director
finnCap Limited	020 7220 0500
Geoff Nash/James Thompson (Corporate Finance) Stephen Norcross (Corporate Broking)

 

the missiontm is a network of entrepreneurial marketing communications Agencies employing 1,000 people in the UK, Asia and US. The Group comprises three divisions: Integrated Generalists, Sector Specialists and Activity Specialists, which work together to provide Clients with the expertise and resource to make them more successful in today's challenging environment.

 

www.themission.co.uk

 

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RNS Number : 3165D

Microsaic Systems plc

26 April 2017

 

26 April 2017

 

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

 

Integration with SCPA chromatography software

 

Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry instruments, is pleased to announce its collaboration with SCPA GmbH ("SCPA"), and the integration of Microsaic's 4000 MiD® compact mass spectrometer with SCPA's universal PrepCon 5 preparative data and control software.

 

The PrepCon 5 software can now be used in conjunction with the 4000 MiD® to control all functional aspects of the instrument's operation, including pumps, motor switch valves, autosamplers, detectors and fraction racks in any combination. In addition, the simple user interface allows the current status of the system to be monitored at any time.

 

Glenn Tracey, Microsaic's Chief Operating Officer, commented:

 

"The flexibility and modular structure of PrepCon 5 allows it to be adapted to any user's system.  This universal capability enhances the usability of Microsaic's 4000 MiD® technology, particularly with non-specialist users, and appeals to the wider base of chemists wanting more deterministic approaches to their preparative work for chemical analyses." 

 

SCPA (Software für Chromatographie und Prozess-Analytik), based near Bremen, Germany, is a developer of specialist software and hardware components needed for chromatography applications in research laboratories.

 

               

Enquiries:
Microsaic Systems plc Jim Ramage, CEO Bevan Metcalf, FD	+44 (0) 1483 751577
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson Liz Yong	+44 (0)20 7496 3000
Citigate Dewe Rogerson (Financial PR) Mark Swallow Marine Perrier	+44 (0)20 7638 9571

About Microsaic Systems

Microsaic Systems plc is a high technology company developing chip-based, bench-top mass spectrometry ("MS") instruments that are designed to improve the efficiency of Pharma R&D. MS is an analytical technique of choice for biochemists across many industry sectors.

 

Microsaic aims to bring routine MS analysis to the pharmaceutical scientist, providing powerful methods of analysis to enable earlier decision making relating to product identification, purity and bioactivity.

 

The Company is working with established global companies in preparative and purification science with expertise in Pharma and life sciences to co-develop new, integrated and optimised, application-specific, solutions to improve productivity in the development of small molecule and novel biologic (peptides, antibodies) medicines.

 

The Microsaic 4000 MiD®, single quadrupole, is the world's smallest MS system, retaining the functionality of larger conventional MS systems, is easier to use by non-specialists, consumes less energy and has lower running costs. The Company is also developing new MS systems, based on its patented chip technologies, to address further areas of emerging need in Pharma R&D.

 

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in 2011 (ticker: MSYS).

 

www.microsaic.com 

 

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RNS Number : 4015D

Obtala Limited

26 April 2017

 

26 Apr 2017

Obtala Limited

("Obtala", the "Group" or the "Company")

(AIM: OBT)

 

 

Letter of Intent to Invest in Sustainable Agriculture in Tanzania

 

Obtala Limited (AIM: OBT), the African focused agricultural and forestry company, is pleased to announce that it has signed a Letter of Intent expressing the  Company's commitment to build sustainable and inclusive business in Tanzania through investment activities associated with the Grow Africa partnership(s) in Sub-Saharan Africa.

 

The Grow Africa Partnership was founded jointly by the African Union (AU), The New Partnership for Africa's Development (NEPAD) and the World Economic Forum in 2011. Grow Africa works to increase private sector investment in agriculture, and accelerate the execution and impact of investment commitments.  Our commitment is to Grow Africa which is promoting multi-stakeholder collaboration to advance private sector investment aligned to the Government of Tanzania's agricultural development objectives, as well as the Government of Tanzania's commitment to promote a business enabling environment that provides confidence to both the domestic and international private sector to achieve these objectives.

 

Obtala currently employs around 400 people and actively seeks new partnerships to scale its operations through infrastructure upgrades, extension of its farms and development of agreements with surrounding farms.  Intense planning is underway for several major projects in Tanzania as the company transitions towards meaningful production, and deployment of its substantial assets. Addressing the issues of food security & nutrition, economic development & social impact and environmental sustainability through waste reduction will be priority.

 

Under the letter of intent, Obtala has conditionally committed to investing USD 10 million over the coming five years in new modular pack-house facility, housing of staff and training centers, scaling plantation based activities and the development of an outgrower programme, subject to sourcing of matched funding, grants, preferential loans and equity from donors, development finance institutions (DFIs) and impact investors.

 

To advance this commitment over the next 12 months, Obtala will take the following actions:

·     Invest in the first stage of a modular packhouse facility to meet increasing demand from local markets, Kenya and Middle East. 

·     Engage partners for co-financing further expansion of packhouse, development of the outgrower scheme, staff housing and training centres. 

·     Identify local and regional partners for technical assistance to identify and build capacity at local surrounding farms.

·     Collaboration with local and international Universities for upskilling, training and development of farm managers and development of a talent pipeline.

·     Engage local organizations to deliver community engagement activities (health & nutrition).

·     Further develop of national and international distribution networks. 

 

 

Miles Pelham, Chairman of Obtala, commented:

 

"Obtala intends to progress our projects in Tanzania with the collaboration and partnership of the Government of Tanzania.  The project is consistent with the investment priorities identified by the country-led Comprehensive Africa Agriculture Development Programme (CAADP) investment plans. In particular, this project aims to contribute to Tanzania.

 

"We welcome the Government of Tanzania's intent to support this investment with mechanisms for coordination with private sector, farmers, and across Government entities, that are required for a sound and sustainable policy, regulatory, administrative and enabling environment. We further welcome development partners to provide appropriate technical and financial support to accelerate implementation, helping to build policy and provide funding or grants, with the overall goal of facilitating private investment.

 

"We at Obtala are committed to be part of the agricultural transformation of Tanzania and look forward to building a long and lasting relationship with the farmers, the government, the donors, the private sector, and other players in Tanzania.   Accordingly we are pleased to submit this Letter of Intent to support and accelerate the development of Tanzania's agriculture and to improve the lives of Tanzania's farmers and citizens."

 

 

Obtala Limited Miles Pelham – Chairman Paul Dolan – CEO www.obtala.com	+44 (0)20 7099 1940
ZAI Corporate Finance Limited (Nomad)                 Peter Trevelyan-Clark / John Treacy	+44 (0)20 7060 2220
Brandon Hill Capital (Broker)      Jonathan Evans	+44 (0)20 3463 5000

 

This announcement contains information which was previously inside information for the purposes of Article 7 of EU Regulation 596/2014. 

 

This information is provided by RNS

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