REG - Agriterra Ltd - Board Changes

AgriterraAnnouncement

30/04/2020 12:00

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RNS Number : 5090L  Agriterra Ltd  30 April 2020

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.

 

30 April 2020

Agriterra Limited ('Agriterra' or the 'Company')

Agriterra Limited / Ticker: AGTA / Index: AIM / Sector: Agriculture

 

Board Changes

 

Agriterra Limited, the AIM-quoted African agricultural company, is pleased to
announce the appointment of Sérgio Miguel Lázaro Zandamela as an additional
independent non-executive director of the Company with immediate effect.

 

At the same time, the Company announces the resignation of Amanda Thorburn,
with immediate effect. Ms. Thorburn who steps down as a non-executive director
of the Company will now focus on her other business interests in the region.
The Board thanks Ms. Thorburn for the commitment and enthusiasm shown
throughout her tenure as a director of the Company and whilst serving as a
member of the Audit Committee. Mr. Neil Clayton will assume the role of Head
of the Audit Committee following Ms. Thorburn's resignation.

 

Sérgio Miguel Lázaro Zandamela

Mr. Zandamela, a Mozambican national, has over 20 years' experience working in
sales, marketing and management roles within substantial local and regional
businesses in Mozambique and Southern Africa. Mr. Zandamela is currently
Socioeconomic and Local Content Manager at Fluor Moçambique Limitada having
been responsible from 2016 up to December 2019 for all Mozambique commercial
activities of Tongaat Hulett (agriculture and agri-processing business,
focusing on the complementary feedstocks of sugarcane and maize), including
leveraging the company's positioning for economic relevance in future
opportunities within the agri-processing industry. Separately, Mr. Zandamela
is currently a Member of the Board of Directors of the Association of Sugar
Producers of Moçambique and acts as Chairman of the National Sugar
Distributors of Moçambique.

Mr. Zandamela has a strong pedigree in both agriculture and business, having
obtained a degree in Agronomy - Rural Engineering from the Eduardo Mondlane
University and subsequently an MBA from the Montford University Southern
Africa - Sandton Business School.

Previous roles held by Mr. Zandamela include General Manager at ServiTrade
AMECO (with responsibility for all operational and statutory matters for a six
(6) site operation in Mozambique with annual aggregate revenues of US$56m),
General Manager of Unitrans Moçambique Limitada (whose Mozambique operations
had an annual revenue of ZAR 200m) and Regional Manager of Unitrans
Moçambique Limitada.

The Board welcomes the appointment of Mr. Zandamela and believes that the
Company will benefit from his strong local operating experience and his
day-to-day management expertise in the Mozambique agricultural sector. In
addition, the Board anticipates to benefit from Mr. Zandamela's knowledge of
international trade fundamentals and his expertise on agricultural machinery,
a subject in which he is a part-time module facilitator at the Eduardo
Mondlane University.

As required by Schedule 2(g) of the AIM Rules, the Company confirms that
Sérgio Miguel Lázaro Zandamela, aged 47, is currently a director/partner, or
has been a director/partner in the past five (5) years, of the companies
listed below:

 

 Current Directorships                                   Past Directorships (last five years)
 Tongaat Hulett Açúcar Limitada                          ServiTrade AMECO

 APAMO - Association of Sugar Producers of Moçambique

 National Sugar Distributors of Moçambique

Mr. Zandamela has no direct or indirect interest in the Company's issued share
capital.

 

Other than the information contained within this announcement, there is no
further information required to be disclosed pursuant to Schedule 2(g) of the
AIM Rules.

 

** ENDS **

 

For further information please visit www.agriterra-ltd.com or contact:

 

 Agriterra Limited                                               Strand Hanson Limited
                                                                 (Nominated & Financial Adviser and Broker)
 Caroline Havers                                                 James Spinney / Ritchie Balmer
 caroline@agriterra-ltd.com (mailto:caroline@agriterra-ltd.com)  +44 (0) 207 409 3494

 

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