TIDMZAM

RNS Number : 4429D

Zambeef Products PLC

21 June 2023

Zambeef Products plc

("Zambeef" or the "Group")

Change in Directorate

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana announces the appointment of Dr. John Clifford Rich as Non-Executive Director, representing British International Investment plc ("BII"), with effect from 21 June 2023.

Dr. Rich is currently the Executive Chairman, of MHP SE ("MHP"), commencing in 2017. Previously, he was an Independent Non-Executive Director of MHP from 2007. He is an Independent Non-Executive Director at Zalar Holding SA (poultry and grain trading in Morocco) and a Director at Australian Agricultural Nutrition and Consulting Pty Limited (AANC) (agricultural consulting company).

Dr. Rich has served as a Non-Executive Director at a range of companies domiciled in the UK, Denmark, Romania, Kazakhstan, Azerbaijan, Indonesia and Singapore and held various executive positions in agriculture and the food processing industry. He has worked for IFC World Bank, the European Bank for Reconstruction and Development (EBRD) and Commonwealth Development Corporation (CDC - now BII), as a consulting agribusiness industry specialist.

Dr. Rich holds a Bachelor of Science Degree with Honours in Pathology and a Bachelor of Science Degree with Honours in Veterinary Science from the University of Sydney. Dr. Rich also holds numerous diplomas and certificates in agriculture, ruminant nutrition, finance and financial modelling related to animal and vegetable protein production.

The board is pleased to welcome Dr. Rich and is confident that he will add immeasurable value to the Company.

For further information, please visit www.zambeefplc.com or contact:

 
 Zambeef Products plc                     Tel: +260 (0) 211 369003 
 Faith Mukutu, Chief Executive Officer 
 M'boo Mumba, Chief Financial Officer 
 
 finnCap (Nominated Adviser and Broker)   Tel: +44 (0) 20 7220 0500 
 Ed Frisby/Abigail Kelly (Corporate 
  Finance) 
 Tim Redfern/Barney Hayward (ECM) 
 Autus Securities Limited                 Tel: +260 (0) 211 840 513 
 Mataka Nkhoma 
 

INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 
Full name:               Dr John Clifford Rich 
Age:                     71 
Shareholding in the      Dr Rich, together with existing Board 
 Company:                 director Roman Frenkel, are Board 
                          representatives of British International 
                          Investment plc ("BII", formally CDC) 
                          under the terms of the relationship 
                          agreement between BII, the Company, 
                          and the Company's Nominated Adviser, 
                          which became effective on 16 September 
                          2016. BII is a holder of 52,601,435 
                          ordinary shares in the Company (representing 
                          approximately 17.5% of the issued 
                          ordinary share capital) and a holder 
                          of 100,057,658 convertible redeemable 
                          preference shares in the Company. 
                          These preference shares have four 
                          voting rights for every five preference 
                          shares held resulting in BII having 
                          in total 34.8% of the voting rights. 
Current directorships 
 and partnerships:         MHP SE 
                         Zalar Holding SA 
                          Australian Agricultural Nutrition 
                          and Consulting Pty Limited 
                         Teralett Pty Ltd 
                          Rich Meats Pty Ltd 
                          A C & J C Rich Pty Ltd 
Historic directorships 
 and partnerships in 
 previous 5 years:         SABA OJSC 
                           AO Ust-Kamenogorskaya Ptitse Fabrika 
                           AO Aitas KZ 
 

In February 1990, Rich Meats Pty Ltd and Rich Meats Holdings Pty Ltd (together, "the Companies") had a receiver appointed, and in addition an administrator was appointed. Upon appointing the receiver, the balance owed to the State Bank of NSW, the largest creditor of the Companies, was AUD 3.3m. The receivership ceased in February 1991, at which time the balance owed was less than AUD 1m, with the Companies being returned to the control of the directors.

Rich Meats Pty Ltd is a dormant holding company and Rich Meats Holdings Pty Ltd later changed its name to Australian Agricultural Nutrition and Consulting Pty Limited which is an operating company.

There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.

About Zambeef Products PLC

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 22.4 million-day-old chicks a year. It has the largest pig abattoir 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 7,787 hectares of row crops under irrigation, which are planted twice a year, and a further 8,694 hectares of rainfed/dry-land crops available for planting each year.

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June 21, 2023 05:00 ET (09:00 GMT)

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