United Cacao Limited SEZC, the AIM-quoted cacao plantation company based in Peru, is pleased to announce that the Company has secured commitments to subscribe for $6,080,000 of the 7.00 per cent secured convertible bonds, with a maturity date of 30 June 2019 (the “Bonds”) (the “Bond Issue”).
The Bonds will be admitted shortly to trading on the ISDX Growth Market.
The Company also announces that it has completed an equity placing in Peru to new institutional and family office investors to raise $1,280,000 before expenses (the “Equity Placing”). Mr. Dennis Melka, the Company’s Chairman and Chief Executive Officer, has also participated in the Equity Placing.
The net proceeds of the Bond Issue, in conjunction with the Company’s existing cash resources (including that cash received from the Equity Placing), will be used to finance additional planting of the Company’s owned plantation estate, to part fund the roll-out of the PAPEC programme and for general working capital purposes.
