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Research Outline
Prepared for Nicole M. | Delivered April 6, 2020
AgCert Company Profile
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Goals
To provide an overview of the company known as AgCert, including relevant investment details and investor returns.
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Early Findings
Overview: AgCert International and XL TechGroup
This research is on the company,
AgCert International, Limited
.
AgCert International was founded in
2002
and was headquartered in Dublin, Ireland.
The company
produced and sold
agriculturally-derived greenhouse gas (GHG) emission reductions.
AgCert was one of the companies under XL TechGroup, an incubator nurturing companies in
biotech, ecotech, medtech
. Other
Companies
under the XL Tech Group incubator in that period include: PetroAlgae,
DxTech
, and TyraTech.
AgCert was the
first
of the new XL TechGroup businesses that was floated on the Alternative Investment Market of the London Stock Exchange
XL TechGroup owned
27.2%
of AgCert International.
AgCert International entered liquidation on 20 June 2012
XL Tech Group has had sucesses in
9
companies: 5 IPOs and 4 trade sales, creating a market value of
£2 billion
.
Overview of Investments in AgCert International
In June 2005, AgCert International shares were floated on the Alternative Investment Market of the London Stock Exchange at
£1.40
, with a valuation of
£215 million
. By the end of July of the same year, the shares had surged by almost
70%
to
£2.30
, and giving the valuation of AgCert International to be
£353.15 million
.
In 2005, "the International Finance Corporation, the private sector arm of the World Bank Group, has provided
$10 million
equivalent in equity financing to AgCert International PLC."
In 2006,
AES Corp. and AgCert International
"announced the formation of AES AgriVerde, a joint venture designed to deploy AgCert’s greenhouse gas emission reduction technology in selected countries in Asia, Europe and North Africa." AES maintained a majority interest in the joint venture and invested
$325 million
into the joint venture over the next five years.
AES invested over
$50 million
to acquire
9.9%
equity interest in AgCert.
In 2007, XL Tech Group owned
23.2% (39.2 million shares)
of AgCert International after Laurus Master Fund received
1.5 million shares
of the company.
In 2007, Shareholders approved the issue of over
76.1 million
new shares, which allowed the company to raise
€30 million
, converting about
€15 million
in debts into stock and providing it with another
€15 million
to fund its development.
In 2008, AgCert (AGC.L) crashed nearly
80%
on news that a key deal with a major European trading company had collapsed.
AgCert
delisted
in order to stay in business in 2018.
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