African Potash Ltd. (AFPO)
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
12 February 2018
Block Commodities Limited
AFRICAN POTASH LIMITED
Change of Name
Block Commodities Limited ("Block Commodities"), formerly known as African Potash Limited, is pleased to announce that it has completed its change of name and adopted the new tradable instrument display mnemonic (TIDM) 'BLOC', with effect from 8:00am today. The Company's new name reflects the strategy of the Company to focus on the development of commodities ecosystems in Africa based on blockchain technology. The initial commodity ecosystem is expected to be based on the Company's existing fertilizer business in Zambia.
Shareholders are advised that existing share certificates in the name of African Potash Limited will remain valid, and that any new share certificates issued by the Company will be issued in the name of Block Commodities Limited. The ISIN and SEDOL numbers will not change.
MAXIMISING VALUE THROUGH BLOCKCHAIN ECOSYSTEMS
The core assets of Block Commodities are its fertilizer assets and fertilizer trading business in Zambia. The Company will now focus on maximising the value of its trading business through the deployment of blockchain. In addition, the technological innovation of blockchain technologies can be used to maximise the value of African agricultural commodities and other commodities which the Company is exploring. These resources will be linked through the vertical integration of primary industries down to consumers via blockchain platforms. In reclaiming the value lost in African agricultural and extractive industries through inefficient supply and distribution systems, Block Commodities will help African farmers raise productivity as well as secure better returns for produce. This is an important step to, establishing African communities as future significant global agricultural producers.
Using blockchain's ability to dynamically incorporate all market participants into an efficient ecosystem, Block Commodities aims to facilitate the commercial operation of such ecosystems in the context of the agricultural production cycle. Initial geographic focus will be in Republic of Congo (ROC), Malawi, Uganda, Zambia and South Africa, with further development of Block Commodities' relationship with COMESA.
Details of Block Commodities' ongoing development will be made available on the Company's website www.blockcommodities.com in due course.
The Directors of the Company accept responsibility for the content of this announcement.
For further information visit www.blockcommodities.com or contact the following:
|End of Announcement||EQS News Service|