REG - Zambeef Products PLC - RESULT OF EXTRAORDINARY GENERAL MEETING

Zambeef ProductsAnnouncement

11/03/2026 13:30

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RNS Number : 2671W  Zambeef Products PLC  11 March 2026

 

ZAMBEEF PRODUCTS PLC

[Incorporated in the Republic of Zambia]

Company registration number: 31824

Share Code: ZAMBEEF

ISIN: ZM0000000201

 

 

 RESULT OF EXTRAORDINARY GENERAL MEETING

 

 

Zambeef (AIM: ZAM), the fully integrated cold chain food products and retail
business with operations in Zambia, Nigeria and Ghana, announces that at the
Extraordinary General Meeting held on 11 March 2026, the ordinary resolution,
initially announced in the 'EGM re Conversion of Preference Shares'
announcement on 10 February 2026, was duly passed. The full Waiver Resolution
is set out below:

Ordinary Resolution: Waiver of Right to Participate in a Mandatory Offer

 

THAT in accordance with the conditional waiver granted by the Securities and
Exchange Commission (SEC) on 29 September 2025 to British International
Investment plc (BII) waiving the requirement to make a mandatory offer to
Shareholders of Zambeef Products plc under Rule 56 of the Takeovers and
Mergers Rules pursuant to the conversion of its 100,057,658 preference shares
into 308,511,112 ordinary shares each in the capital of Zambeef Products plc
(the Conversion), the independent shareholders of the Company hereby waive
their right to participate in a mandatory offer by BII (and persons acting in
concert with them) that would otherwise arise as a result of the Conversion
and approve the waiver.

 

Until receipt of any Conversion notice from BII, which would include a 30
business day notice period, no Conversion will take place. At this time, there
is no change to the Company's issued share capital of 300,579,630 Ordinary
Shares and 100,057,658 Preference Shares.

 

Capitalised terms used in this announcement have the meanings given to them in
the Company's EGM announcement of 10 February 2026, unless the context
provides otherwise.

 

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
 
 
Tel: +44 (0) 20 7220 0500

 

 

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 12.5 million 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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