REG - Zambeef Products PLC - RELATED PARTY TRANSACTIONS

Zambeef ProductsAnnouncement

06/02/2026 15:30

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RNS Number : 1184S  Zambeef Products PLC  06 February 2026

ZAMBEEF PRODUCTS PLC

[Incorporated in the Republic of Zambia]

Company registration number: 31824 Share Code: ZAMBEEF

ISIN: ZM0000000201

 

 

Zambeef (AIM: ZAM), the fully integrated cold chain food products and retail
business with operations in Zambia, Nigeria and Ghana, announces details of
the following related party transactions.

 

The following are details of trading by Zambeef with Java Foods Limited
("Java"), a company in which Katebe Monica Musonda, non-executive director of
Zambeef, is an approximately 21% ordinary shareholder, and, was a director of
until 16 July 2025. Java was a Related Party pursuant to the AIM Rules for
Companies, and the following information is disclosed pursuant to AIM Rule 13.

 

•      Sales of flour to Java, between November 2023 and July 2025
inclusive, this being a total of 2,240 tonnes, with a total sales value of
ZMW43,256,300; and

 

•      Purchases from Java of noodles (for subsequent sale in Zambeef's
retail sales channel), between November 2023 and May 2025 inclusive (noting
that there were no such purchases by Zambeef in June and July 2025), this
being a total of 68 tonnes, with a total purchase value of ZMW2,059,881,
together the "Transactions").

 

The sale of flour was conducted at the same price per tonne as that charged to
Zambeef's other customers. All consideration has been received in cash. The
aggregated Transactions were Related Party Transactions under the AIM Rules
for Companies.

 

The independent directors of the Company for the purpose of the Transactions,
being the whole Board other than Katebe Monica Musonda, consider, having
consulted with the Company's nominated adviser, Cavendish Capital Markets
Limited, that the terms of the Transactions are fair and reasonable insofar as
its shareholders are concerned.

 

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
 Patrick Kalifungwa, Chief Financial Officer

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

 Autus Securities Limited                                           Tel: +260 (0) 211 840 513

 (Sponsoring Broker)
 Mataka Nkhoma (Sponsoring Broker)

 By Order of the Board

 Mwansa M Mutimushi

 COMPANY SECRETARY

 Lusaka, Zambia 06 February 2026

 

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 248 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 12.5m broilers and
31.2-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
102,000 pigs a year, while its dairy has a capacity of 140,000 litres per day.

 

The Group is also one of the largest cereal row cropping operations in Zambia,
with approximately 7,254 hectares of row crops under irrigation, which are
planted twice a year, and a further 7,943 hectares of rainfed/dry-land crops
available for planting each year.

 

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