United Cacao, the only publicly listed pure-play cacao producer globally and currently the only publicly listed tropical plantation company in Latin America, announces final audited results for the year to 31 December 2014.
All figures are in US dollars unless otherwise indicated.
Highlights during the period:
• Admission of ordinary share capital to trading on AIM market of the London Stock Exchange on 2 December 2014 following a successful share placing to raise £6.4 million (approximately US$10 million). Funds are being used to extend the Company’s planted operations from approximately 320 hectares in early December 2014 to 2,000 hectares by the end of December 2015 and for general working capital purposes.
Highlights post the period end:
• 1,150 hectares of cacao planted at the end of June 2015.
• Increase in the freehold title, agriculturally zoned land owned by the Company to 3,760.5 hectares.
• Launch of Programa Alianza Producción Estratégica Cacao (“PAPEC”), an innovative small-farmer finance programme under which United Cacao extends low-cost finance to local families for planting cacao and purchases their cacao beans for fermentation and drying. The programme was officially initiated on 17 April 2015 at a ceremony in Tamshiyacu in Peru.
• Successful dual listing on Lima Stock Exchange (Bolsa de Valores de Lima) following the admission of the Company’s ordinary share capital on 19 June 2015.
Mr Dennis Melka, Executive Chairman and CEO of the Group, said:
“The past twelve months have been transformative for the Company. Our listings in London and Lima have given us the necessary strong foundations to become one of the world’s largest and lowest cost corporate growers of traceable and sustainable cacao. “
