REG - Zambeef Products PLC - Directorate Change

Zambeef ProductsAnnouncement

21/06/2023 10:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230621:nRSU4429Da&default-theme=true

RNS Number : 4429D  Zambeef Products PLC  21 June 2023

 

 

 

Zambeef Products plc

("Zambeef" or the "Group")

 

Change in Directorate

 

 

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business
with operations in Zambia, Nigeria and Ghana announces the appointment of Dr.
John Clifford Rich as Non-Executive Director, representing British
International Investment plc ("BII"), with effect from 21 June 2023.

 

Dr. Rich is currently the Executive Chairman, of MHP SE ("MHP"), commencing in
2017. Previously, he was an Independent Non-Executive Director of MHP from
2007. He is an Independent Non-Executive Director at Zalar Holding SA (poultry
and grain trading in Morocco) and a Director at Australian Agricultural
Nutrition and Consulting Pty Limited (AANC) (agricultural consulting company).

 

Dr. Rich has served as a Non-Executive Director at a range of companies
domiciled in the UK, Denmark, Romania, Kazakhstan, Azerbaijan, Indonesia and
Singapore and held various executive positions in agriculture and the food
processing industry. He has worked for IFC World Bank, the European Bank for
Reconstruction and Development (EBRD) and Commonwealth Development Corporation
(CDC - now BII), as a consulting agribusiness industry specialist.

 

Dr. Rich holds a Bachelor of Science Degree with Honours in Pathology and a
Bachelor of Science Degree with Honours in Veterinary Science from the
University of Sydney. Dr. Rich also holds numerous diplomas and certificates
in agriculture, ruminant nutrition, finance and financial modelling related to
animal and vegetable protein production.

 

The board is pleased to welcome Dr. Rich and is confident that he will add
immeasurable value to the Company.

 

 

 

 

 

 

 

 

 

 

For further information, please visit www.zambeefplc.com
(http://www.zambeefplc.com/) or contact:

 Zambeef Products plc                         Tel: +260 (0) 211 369003
 Faith Mukutu, Chief Executive Officer
 M'boo Mumba, Chief Financial Officer

 finnCap (Nominated Adviser and Broker)       Tel: +44 (0) 20 7220 0500
 Ed Frisby/Abigail Kelly (Corporate Finance)
 Tim Redfern/Barney Hayward (ECM)
 Autus Securities Limited                     Tel: +260 (0) 211 840 513
 Mataka Nkhoma

 

INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM
RULES FOR COMPANIES ("AIM RULES")

 Full name:                                                    Dr John Clifford Rich
 Age:                                                          71
 Shareholding in the Company:                                  Dr Rich, together with existing Board director Roman Frenkel, are Board
                                                               representatives of British International Investment plc ("BII", formally CDC)
                                                               under the terms of the relationship agreement between BII, the Company, and
                                                               the Company's Nominated Adviser, which became effective on 16 September 2016.
                                                               BII is a holder of 52,601,435 ordinary shares in the Company (representing
                                                               approximately 17.5% of the issued ordinary share capital) and a holder of
                                                               100,057,658 convertible redeemable preference shares in the Company. These
                                                               preference shares have four voting rights for every five preference shares
                                                               held resulting in BII having in total 34.8% of the voting rights.
 Current directorships and partnerships:

                                                               MHP SE
                                                               Zalar Holding SA

                                                               Australian Agricultural Nutrition and Consulting Pty Limited
                                                               Teralett Pty Ltd

                                                               Rich Meats Pty Ltd

                                                               A C & J C Rich Pty Ltd
 Historic directorships and partnerships in previous 5 years:

                                                               SABA OJSC

                                                               AO Ust-Kamenogorskaya Ptitse Fabrika

                                                               AO Aitas KZ

In February 1990, Rich Meats Pty Ltd and Rich Meats Holdings Pty Ltd
(together, "the Companies") had a receiver appointed, and in addition an
administrator was appointed. Upon appointing the receiver, the balance owed to
the State Bank of NSW, the largest creditor of the Companies, was AUD 3.3m.
The receivership ceased in February 1991, at which time the balance owed was
less than AUD 1m, with the Companies being returned to the control of the
directors.

Rich Meats Pty Ltd is a dormant holding company and Rich Meats Holdings Pty
Ltd later changed its name to Australian Agricultural Nutrition and Consulting
Pty Limited which is an operating company.

There is no further information to be disclosed in relation to the director
appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM
Rules.

 

 

About Zambeef Products PLC

Zambeef Products plc is the largest integrated cold chain food products and
agribusiness company in Zambia and one of the largest in the region, involved
in the primary production, processing, distribution and retailing of beef,
chicken, pork, milk, dairy products, fish, flour and stockfeed, throughout
Zambia and the surrounding region, as well as Nigeria and Ghana.

It has 236 retail outlets throughout Zambia and West Africa.

The Company is one of the largest suppliers of beef in Zambia. Five beef
abattoirs and three feedlots are located throughout Zambia, with a capacity to
slaughter 230,000 cattle a year. It is also one of the largest chicken
producers in Zambia, with a capacity of 8.8m broilers and 22.4 million-day-old
chicks a year. It has the largest pig abattoir and pork processing plants in
Zambia, with a capacity to slaughter 75,000 pigs a year, while its dairy has a
capacity of 120,000 litres per day.

The Group is also one of the largest cereal row cropping operations in Zambia,
with approximately 7,787 hectares of row crops under irrigation, which are
planted twice a year, and a further 8,694 hectares of rainfed/dry-land crops
available for planting each year.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAPPUBUQUPWURG