Mon, 12 Feb 2018 07:00:06
: African Potash Ltd.: Change of Name
African Potash Ltd. (AFPO)
12-Feb-2018 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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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 8:00amtoday. 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. Theseresources will be linkedthrough 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 willbe in Republic of Congo (ROC), Malawi, Uganda, Zambia and South Africa, with further development of Block Commodities'relationshipwith COMESA.
Details of Block Commodities' ongoingdevelopment will be made available on the Company's website www.blockcommodities.comin due course.
The Directors of the Company accept responsibility for the content of this announcement.