ZAMBEEF
PRODUCTS PLC
FIRST CAUTIONARY
ANNOUNCEMENT
In accordance with the Lusaka Securities
Exchange ("LuSE") Listings Requirements, the Board of Directors
("the Board") of Zambeef Products plc (the "Company" or "Zambeef")
wishes to remind its Shareholders 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 will be the eighth
anniversary of BII's investment in the Company. After this date
BII's conversion rights on their Preference Shares will increase
materially, from currently one-for-one new ordinary share, to one
for 3.0833 (recurring) new ordinary shares.
Accordingly, shareholders are advised to
exercise caution when dealing in the Company's securities until
further notice.
For further information, please
visit www.zambeefplc.com
or contact:
Zambeef Products
plc
Faith Mukutu, Chief Executive
Office
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/Abigail Kelly (Corporate
Finance)
Tel: +44 (0) 20 7220 0500
Tim Redfern
(ECM)
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.