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Everest Global PLC - London-based investment company focused on African agricultural sector - Extends exercise period of put-and-call option agreement with K2 Spice Ltd to January 31 from December 31. In October, K2 subscribed to new shares in Everest subsidiary Dynamic Intertrade for R 10,982, around $579, bringing its interest in the company to 49%. Everest also agreed to assign debts owed by Dynamic, amounting to £4.2 million, to K2. K2 agreed to pay £100,000 and to fund Dynamic’s business operations until Everest ceased to hold its remaining 51% stake in the company.
Companies also entered an option agreement, granting K2 the option to acquire Everest’s remaining interest in Dynamite for £1.00. Option was exercised by K2 Spice on January 16.
Current stock price: Everest Global closed down 3.9% at 3.12 pence each in London on Wednesday.
12-month change: down 17%
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