Notice of AGM (4341W)
31 Gennaio 2012 - 8:01AM
UK Regulatory
TIDMLZM
RNS Number : 4341W
LonZim PLC
31 January 2012
LonZim Plc
(the "Company")
Notice of AGM, Proposed Management Changes and Change of
Name
The Company announces that the Annual General Meeting ("AGM") of
the Company will be held on 24 February 2012 at 11am at The May
Fair Hotel, Stratton Street, London, WIJ 8LT. The Notice of
Meeting, together with a form of proxy, will be posted to
shareholders today. Electronic copies of these documents are also
available on the Investors section of the Company's website at
www.lonzim.co.uk.
Summary
-- Board of LonZim Plc advises that the Company has reached a
stage where it can operate without further direct support from
Lonrho Plc.
-- All five members of the Board nominated by Lonrho Plc have
agreed to step down from the Board of LonZim Plc at the AGM,
subject to all resolutions being passed
-- Four new Directors are to be appointed to the Board at the AGM
o Ian Perkins as Non-Executive Chairman
o Edzo Wisman as Executive Director and Chief Executive
Officer
o Itai Mazaiwana as Non-Executive Director
o Fred Jones as Non-Executive Director
-- LonZim Plc intends to change its name to Cambria Africa Plc
-- The Company remains committed to Zimbabwe, to its current
operating businesses and to growth in shareholder value
In a notice of AGM of London based LonZim Plc, listed on the AIM
market of the London Stock Exchange (AIM:LZM), published on 31
January 2012, the Board advised that the Company had reached a
stage in its corporate development where it is able to operate
without further direct support from Lonrho Plc. As a result,
members of the Board nominated by Lonrho Plc have agreed to step
down at the AGM, subject to all resolutions being passed at the
AGM, and four new Directors will be proposed for appointment. After
the AGM Lonrho Plc will retain its 22.9 per cent. shareholding in
the Company. The Board has received irrevocable undertakings to
vote in favour of all the Resolutions from shareholders holding, in
aggregate, 24.4 per cent. of the Company's existing issued share
capital, of which 0.516% represents shares in respect of which Mr
Paul Heber has an interest.
The intended new appointees to the Board include internationally
recognised executives, as well as highly regarded Zimbabwean
Directors. Biographical details of the appointees are contained in
the Notice of Meeting.
Mr Paul Turner and Mr Paul Heber, currently Non-Executive
Directors of the Company since 2008 and 2007 respectively, are up
for re-election to the Board and it is the recommendation of the
Board that they be re-elected. Mr Turner is intended to become the
Company's Deputy Chairman.
In light of these new developments, the Directors have decided
to propose renaming the Company "Cambria Africa Plc" at the AGM.
The name is inspired by the Cambrian period in the earth's
development, also referred to as the "Cambrian explosion", and
represents an anticipated period of rapid development and a
promising new era for the Company, its employees and shareholders,
as well as for Zimbabwe.
Enquiries
LonZim Plc
David Lenigas Executive Chairman +44 (0) 7881 825 378
Geoffrey White Chief Executive Officer +44 (0) 7717 307 308
David Armstrong Finance Director +44 (0) 7833 054 693
WH Ireland Ltd: Nomad and Broker
James Joyce +44 (0) 20 7220 1666
Pelham Bell Pottinger
Charles Goodwin +44 (0) 20 7861 3117
Charlie Harrison +44 (0) 20 7861 3125
This information is provided by RNS
The company news service from the London Stock Exchange
END
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