Agrifirma Brazil - News & Media

1 September 2010	Exchange of Warrants completed The exchange by Agrifirma Brazil Limited of all of the issued warrants for new ordinary shares was completed on 31 August 2010 in accordance with the notice dated 20 August 2010 that was posted to all warrantholders. Holders of the warrants issued in the placing made by Agrifirma Brazil Limited in 2008 have been issued 1 ordinary share for every 5 warrants. Holders of the warrants issued in the placing that closed in March 2010 have been issued 2 ordinary shares for every 5 warrants. Certificates for the shares allotted will be despatched to warrant holders at their registered addresses. Certificates representing the warrants have ceased to have any value and can be destroyed.
21 July 2010	Share listing update Commenting on a report in the Financial Times that Agrifirma Brazil is hoping to list its shares on the Hong Kong Stock Exchange, Ian Watson, the chairman of Agrifirma Brazil, said today: “Our recent visit to the Far East has been very productive. Given the rising demand for foodstuffs across the developing world, there is a lot of interest in our strategy of transforming undeveloped land in Brazil into productive farmland. The company’s operations are making good progress. We are looking at a number of options for listing our shares in due course, including Sao Paulo, Toronto, London and Hong Kong. No decision about where or when to list the shares has yet been made however".
March 2010	Agrifirma completes $25m placing of shares Agrifirma Brazil Ltd (“Agrifirma”), the Brazilian farmland development and operating company, has successfully completed a $25m placing of shares and warrants in the company. The new equity finance will be committed to continuing the transformation of existing properties and financing the excerice of the option to acquire Bananal farm. Agrifirma has raised a total of $179m of equity capital since its formation two years ago.
31 Jan 2010	End 2009 land laluation Agrifirma’s land holdings are valued every six months by Scot Consultoria, an independent firm of land valuers in Brazil. The latest valuation was carried out at 31 December 2009, resulting in an 11% increase in the appraisal value of the company’s land holdings, measured in Brazilian reals. This figure reflects both the general movement in land values in Brazil over the previous 12 months and the value added by Agrifirma’s capital investment in Arrojadinho and Rio do Meio, designed to bring the land acquired into long term productive use.
Nov 2009	Working capital loan agreement with Banco do Nordeste Banco do Nodeste, a Government backed development bank, has approved two lines of credit to assist in Agrifirma’s working capital requirements at Campo Aberto and the Arrojadinho and Rio do Meio farm clusters.
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