REG - Zambeef Products PLC - Further Cautionary Announcement

Zambeef ProductsAnnouncement

11/04/2025 08:30

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RNS Number : 6806E  Zambeef Products PLC  11 April 2025

 

ZAMBEEF PRODUCTS PLC

 

 FURTHER CAUTIONARY ANNOUNCEMENT

 

Further to the cautionary announcement dated 16 September 2024 and in
accordance with the Lusaka Securities Exchange ("LuSE") Listings Requirements,
shareholders are advised that in 2016 British International Investment plc
("BII"), formally CDC Group Plc, acquired 52.6 million ordinary shares and
100,057,658 convertible redeemable preference shares ("Preference Shares") in
Zambeef Products plc. The details of the transaction are as set out in the
Company's announcement of 4 August 2016, and in the Investment Agreement which
can be found on the Company's website.

 

16 September 2024 was the eighth anniversary of BII's investment in the
Company. After this date BII's conversion rights on their Preference Shares
increased from a one-for-one new ordinary share, to a one for 3.0833
(recurring) new ordinary shares. Shareholders are advised that BII has not
exercised their conversion right. However, should they exercise this right, a
conversion of BII's Preference Shares into ordinary shares may have a material
effect on the price of the Company's securities. Accordingly, shareholders are
advised to continue to exercise caution when dealing in the Company's
securities.

 

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

 

Zambeef Products
plc

Faith Mukutu, Chief Executive Officer
 
Tel: +260 (0) 211 369003

Patrick Kalifungwa, Chief Financial Officer

 

Autus Securities Limited (Sponsoring Broker)

Mataka Nkhoma (Sponsoring Broker)
 
                           Tel: +260 (0) 211 840 513

 
 

Cavendish Capital Markets Ltd (Nominated Adviser and
Broker)

Ed Frisby/Isaac Hooper (Corporate Finance)
 
            Tel: +44 (0) 20 7220 0500

Tim Redfern (ECM)

 

By order of the Board

Mwansa Mutimushi Company Secretary

 

Issued in Lusaka, Zambia on 11 April, 2025

 

 

 

 

 

 

 

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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