In view of recent investor queries regarding the result of the voting without meeting and the voting rights of certain noteholders, Agri Resources Group would like to clarify certain points:
-In July 2023, Sonel Investment informed Agri Resources Group that it will focus its activities on infrastructure and is looking for strategic options for its Agri division.
-In December 2023, a subsidiary of Sonel Investment, sold its indirect shareholding in Agri Resources Group to several individual acquirers with none of them individually taking control of the company.
-Sonel Investment and its subsidiaries are therefore no related parties to Agri Resources Group anymore, and according to the German Bond Act, Sonel Investment is entitled to vote.
-CCG is a management owned investment company acquired in a management buy-out from Sonel Investment in June 2023 and independent from Agri Resources Group – and therefore also entitled to vote according to the German Bond Act.
The changes to the notes that have been duly approved are in the best interest of all noteholders as they enable Agri Resources Group to implement its new business strategy mainly focused on providing services in connection with its agricultural land in West Africa in co-operation with secured off takers and local growers and preserve value for all its stakeholders.