Result of GM, TVR and Board Appointment
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22 July 2025
Dekel Agri-Vision Plc
('Dekel' or the 'Company')
Result of General Meeting, Total Voting Rights and Board Appointment
Dekel Agri-Vision Plc (AIM: DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, is pleased to announce that, at the General Meeting held earlier today, the Resolution set out in the Notice of General Meeting contained in the Circular dated 26 June 2025 was duly passed.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Company's announcement made at 4:41 p.m. on 26 June 2025, unless the context requires otherwise.
Result of the Meeting
Details of the results of the voting at the General Meeting, including the number of proxy votes for and against the Resolution proposed, and the number of proxy votes withheld, are set out below. The Resolution was proposed and passed as a special resolution.
|
Resolution |
For |
Against |
Withheld |
||
|
Votes |
% of votes cast |
Votes |
% of votes cast |
Votes |
|
|
1. Authority to allot shares |
143,300,343 |
97.4 |
3,515,568 |
2.4 |
257,893 |
The total number of proxy votes received were 147,073,804. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.
The passing of the Resolution is one of the conditions to completion of the Fundraising, and as a result of the votes cast in their favour, that particular condition has been satisfied. Completion of the Fundraising remains conditional upon Admission, which is expected to occur on or around 23 July 2025.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the 642,131,341 New Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Shares will commence at 8.00 a.m. on or around 23 July 2025.
Following the Admission, the Company's issued ordinary share capital will comprise 1,202,945,494 Ordinary Shares, with no shares held in treasury. Therefore, the number of Total Voting Rights in the Company will be 1,202,945,494, and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Board Appointment
The Company is pleased to announce the appointment of Jonathan Johnson-Watts as Non-Executive Chairman, with immediate effect.
Jonathan is an experienced executive with a proven track record of improving businesses and returning shareholder value. He excels at partnering with leadership teams to improve operational efficiency and drive sustainable growth through strategic and structured approaches.
Jonathan has significant experience in the agri-industrial sector particularly with Volta Red UK Limited, a West Africa-focus palm oil operator. In addition he brings with him over a decade of senior leadership experience across various international agribusiness and infrastructure platforms, including extensive experience in West Africa, specifically the Ivory Coast.
Jonathan's commitment to shareholders, his experience and financial discipline plus his strategy insight and international operational experience are expected to significantly benefit the Company as it enters the next phase of growth. Jonathan supported the business in the latest fundraise, highlighting his commitment to the Company and its projects.
Andrew James Tillery, the Company's former Non-Executive Chairman, has elected to step down from his role to explore other business interests.
Lincoln Moore, Executive Director, commented: "We would like to welcome Jonathan to the Board as our new Chairman. Jonathan has extensive experience in the industry and has been successful in scaling palm oil projects across West Africa. With strong momentum in the business across both divisions, we look forward to working with Jonathan as we enter the next phase of growth and scale operations."
"On behalf of the Board, I would like to thank Andrew for his Board leadership and operational contribution over the years. Andrew has been an important part of Dekel's journey since we became a public company in 2013, and we wish him all the best in his future endeavours."
The following information is disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies in relation to Jonathan William Johnson-Watts , aged 63:
|
Current Directorships |
Directorships held over the past 5 years |
|
Pelle London Limited Volta Red UK Limited Kadjebi Environmental Limited Radarzone Limited
|
Dovelane Limited Wysepower Limited Wyse Group Limited |
Following the completion of the Fundraising and Conversion, Jonathan Johnson-Watts is interested in 90,909,090 Ordinary Shares in the Company, representing 7.6% of the issued share capital.
Save as disclosed above, there is no further information required to be disclosed in accordance with Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies.
Director and PDMR Shareholdings
Following completion of the Fundraising and Conversion, the following Directors are interested in the following:
|
Director / PDMR |
Position |
Existing beneficial interest in Ordinary Shares |
% of current share capital |
New Ordinary Shares subscribed for |
Ordinary Shares after Fundraise |
% of Enlarged Share Capital |
|
Youval Rasin |
Chief Executive Officer |
68,406,705 |
12.2 |
187,931,0981 |
256,337,803 |
21.3 |
|
Yehoshua Shai Kol* |
Chief Financial Officer |
28,221,861 |
5.03 |
40,000,000 |
68,221,861 |
5.7 |
|
Lincoln Moore |
Executive Director |
7,209,791 |
1.29 |
18,181,818 |
25,391,609 |
2.1 |
|
Jonthan Johnson-Watts |
Non-Executive Chairman |
- |
- |
90,909,090 |
90,909,090 |
7.6 |
|
Aristide C. Archy Brou |
Non-Executive Director |
23,824,324 |
4.25 |
54,545,454 |
78,369,778 |
6.5 |
*Yehoshua Shai Kol's entire shareholding is held through Yardeni-Gelfand Trusts (2000) Ltd.
1These shares are in relation to the Conversion Shares in relation to the Conversion, as set out in the announcement at 4:41 p.m. on 26 June 2025.
For further information, please visit the Company's website www.dekelagrivision.com or contact:
|
Dekel Agri-Vision Plc Youval Rasin Shai Kol Lincoln Moore
|
+44 (0) 207 236 1177 |
|
Zeus (Nomad and Joint Broker) James Joyce Darshan Patel John Moran
|
+44 (0) 203 829 5000 |
|
Optiva Securities Limited (Joint Broker) Christian Dennis Daniel Ingram |
+44 (0) 203 137 1903 |
Notes:
Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company focused on West Africa. It has a portfolio of projects in Côte d'Ivoire at various stages of development: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders is processed at the Company's 60,000tpa capacity crude palm oil mill and a cashew processing project in Tiebissou, which is currently transitioning to full commercial production.
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