Dekel Agri-Vision (LSE:DKL) is raising about £0.7 million through a conditional placing and subscription at 0.26 pence per share, most of it from its largest Shareholder and director Aristide Achy Brou, with a further £300,000 retail offer for existing investors.

What was announced

Dekel Agri-Vision (LSE:DKL) Plc, the AIM-quoted West African agriculture company, announced on 30 October 2026 a conditional fundraising of about £0.7 million before expenses. It comprises a placing of 75,000,000 new shares, arranged by Zeus with new and existing investors and raising £195,000, and a direct subscription of 192,307,692 shares raising £500,000 from non-executive director Aristide Achy Brou.

All shares are priced at 0.26 pence, a discount of about 25.7% to the closing mid-market price of 0.35 pence on 21 October 2026. A separate retail offer through the BookBuild platform seeks up to £300,000 at the same price through up to 115,384,615 new shares. It opened at 1.30pm on 30 October and closes at 4.30pm on 3 November 2026. It is open to existing UK-resident shareholders, with a £100 minimum. The placing and subscription are not underwritten and not conditional on the retail offer.

Use of proceeds and director participation

About £0.5 million is earmarked for additional processing equipment at the Tiebissou cashew plant in Côte d'Ivoire, intended to lift raw cashew nut (RCN) processing capacity from about 30 to about 45 tonnes a day. About £0.2 million is for working capital, including RCN procurement. If the retail offer is fully taken up, net proceeds could reach about £1 million.

Mr Achy Brou currently holds 263,917,580 shares, or 21.8%. After admission he would hold 456,225,272 shares, equal to 28.6% of the enlarged capital if the retail offer is fully subscribed. The company said his holding is expected to rise above 30% but stay at or below 50%. Because Dekel (LSE:DKL) is incorporated in Cyprus, the UK Takeover Code does not apply; instead, its articles require shareholder approval for a holding of between 30% and 50%. Mr Achy Brou has confirmed he does not intend to exceed 50%. Substantial shareholder Armstrong Investments Limited is also taking part in the placing. Both participations are related party transactions, which the independent directors consider fair and reasonable.

Background

Trading in Dekel (LSE:DKL)'s shares has been paused since 7.30am on 22 October 2026 under the capital access window introduced with the August 2026 AIM Rules changes. Operationally, the company said RCN processed in the first half of 2026 rose 45.7% to 3,165 tonnes, cashew production rose 82.0% to 948 tonnes and sales increased 105.4% to 996 tonnes. Third-quarter 2026 was its strongest quarter so far, with 2,130 tonnes of RCN processed, about 28.6% more than a year earlier. The Ayenouan palm oil Business continues to generate positive operating cash flow, helped by historically high crude palm oil and palm kernel oil prices.

The board is also evaluating corporate options, including project-level Equity injections, expressions of interest in operating subsidiaries and a potential offer for the whole company. None is certain and the fundraising does not depend on them.

Chief executive Youval Rasin said the cashew operation "has built strong momentum over the past year", and that Mr Achy Brou's "significant commitment reflects his confidence in the Company's prospects".

What to watch next

The retail offer result and the resumption of trading are expected at 7.00am on 4 November 2026, when the circular and notice of meeting are also due. A general meeting will be held at 10.00am on 27 November 2026 at the London offices of Hill Dickinson LLP. Independent shareholders will vote on waiving the articles' takeover provisions for Mr Achy Brou, and a special resolution will seek authority to allot up to 382,692,308 shares without pre-emption rights. Proxy forms are due by 10.00am on 25 November. Admission of the new shares is expected at 8.00am on 30 November 2026, with a long-stop date of 15 December 2026.