REG - Zambeef Products PLC - Chiawa Farm Estate

Zambeef ProductsAnnouncement

15/08/2024 16:00

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RNS Number : 6547A  Zambeef Products PLC  15 August 2024

 

Zambeef Products plc

 

("Zambeef" or the "Group")

 

Chiawa Farm Estate

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business
with operations in Zambia, Nigeria and Ghana notes the recent media commentary
in Zambia, which has included reporting of a confirmation by the government
that the state-owned Industrial Development Corporation (IDC) Limited is
considering a purchase and is currently undertaking due diligence. Zambeef
wishes to advise its shareholders that a sale has not taken place with respect
to its Chiawa Farm. In the event that a successful offer for the farm is
received, Zambeef will follow due process in terms of notifying the market and
obtaining any relevant shareholder approvals as applicable.

 

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

 

 Zambeef Products plc                                             Tel: +260 (0) 211 369 003
 Faith Mukutu, Chief Executive Officer

 Patrick Kalifungwa, Chief Financial Officer

                                                                                  Tel: +260 (0) 211 840 513

 Autus Securities Limited (Sponsoring Broker)

 Mataka Nkhoma (Sponsoring Broker)

  Cavendish Capital Markets Ltd (Nominated Adviser and Broker)
 Ed Frisby/Abigail Kelly (Corporate Finance)                                      Tel: +44 (0) 20 7220 0500
 Tim Redfern (ECM)

 

Notes to Editors

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 25.4 million-day-old
chicks a year. It is one of the largest piggeries, pig abattoirs 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 7,265 hectares of row crops under irrigation, which are
planted twice a year, and a further 8,000 hectares of rainfed/dry-land crops
available for planting each year.

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