AfriAg PLC First Day of Dealings on ISDX (7395B)

TIDMAFRI

RNS Number : 7395B

AfriAg PLC

09 October 2015

9 October 2015

AfriAg plc

("AfriAg" or the "Company")

Admission of ordinary shares to the ISDX Growth Market

The Company announces that, with effect from 8:00 a.m. today, the Company's ordinary shares will commence trading on the ISDX Growth Market under the ticker AFRI.

The Company's ordinary shares continue to be traded on AIM.

For further information please visit www.afriag.com or contact the following:

 
 
 David Lenigas /                                +44 (0) 20 
  Donald Strang     AfriAg plc                   7440 0640 
 James Caithie /    Cairn Financial Advisers    +44 (0) 20 
  Jo Turner          LLP                         7148 7900 
                                                +44 (0) 20 
 David Bick         Square1 Consulting           7929 5599 
 

Company Information

AfriAg is an investment company which is admitted to trading on AIM, focussed on the acquisition of direct and indirect interests in projects in the agriculture and logistics sectors.

At present the Company holds a 40% interest in African agri-logistics group AfriAg SA (Pty) Ltd ("AfriAg SA"). AfriAg SA export a range of perishable goods from farming and fishing operations in southern Africa to Europe and Asia through Johannesburg and Cape Town international airports.

In addition AfriAg SA holds a 2 year renewable contract to transport fresh produce farmed in Mozambique, to countries such as RSA, UK, Holland, and potential future markets including the UAE.

AfriAg Marketing (Pty) Ltd ("AfriAg Marketing") was set up in August 2014, as a 100%-owned subsidiary of AfriAg plc, to focus on the export and import of perishable food products, with first orders of seafood received in September 2014.

The Company currently has a focus on opportunities in Africa, Europe and the Middle East but considers possible opportunities globally.

Directors

The full names of the Directors of the Company and positions are as follows:

David Anthony Lenigas, Executive Chairman

Mr. Lenigas holds a Bachelor of Applied Science Degree in Mining Engineering. He served as Executive Chairman of London listed Lonrho Plc from 2006 to September 2012 and was in charge of Lonrho Plc's expansion into over 20 countries in Africa with its main focus on agri-logistics. He has extensive experience operating in the public company environment across the UK, African, Canadian and Australian markets. He also serves as an Executive Chairman of a number of other publicly listed companies.

Donald Ian George Layman Strang, Finance Director

Mr. Strang is a member of the Australian Institute of Chartered Accountants and has been in business over 20 years, holding senior financial and management positions in both publicly listed and private enterprises in Australia, Europe and Africa. Mr. Strang has considerable corporate and international expertise and over the past decade has focussed on mining and exploration activities. Mr Strang is a member of both the Audit and Remuneration committees.

Hamish Hamlyn Harris, Non-Executive Director

Mr. Harris holds a Bachelor of Commerce degree and has worked in the investment banking industry for over 15 years in Singapore, Hong Kong and London, primarily in the area of market risk management. He has also run a privately owned private equity vehicle targeting acquisitions in agriculture in Eastern Europe in the last few years and is currently a director of Polemos plc and Doriemus plc.

Sector Classification

AfriAg will be classified as a financial services company on ISDX.

Significant Shareholdings

 
 Shareholder              Number of Ordinary   Percentage of 
                           Shares held          Issued Share Capital 
-----------------------  -------------------  ---------------------- 
 Pershing Nominees 
  Ltd                     238,000,000          17.23% 
-----------------------  -------------------  ---------------------- 
 Vidacos Nominees 
  Limited                 224,250,000          16.24% 
-----------------------  -------------------  ---------------------- 
 David Lenigas            121,000,000          8.76% 
-----------------------  -------------------  ---------------------- 
 Forest Nominees 
  Ltd                     118,000,000          8.55% 
-----------------------  -------------------  ---------------------- 
 Ferlim Nominees 
  Limited                 78,200,000           5.66% 
-----------------------  -------------------  ---------------------- 
 Beaufort Nominees 
  Limited                 76,214,948           5.52% 
-----------------------  -------------------  ---------------------- 
 JIM Nominees Limited     69,086,337           5.00% 
-----------------------  -------------------  ---------------------- 
 Redmayne (Nominees) 
  Limited                 65,900,000           4.77% 
-----------------------  -------------------  ---------------------- 
 TD Direct Investing 
  Nominees (Europe) 
  Ltd                     45,461,192           3.29% 
-----------------------  -------------------  ---------------------- 
 Barclayshare Nominees 
  Ltd                     42,478,141           3.08% 
-----------------------  -------------------  ---------------------- 
 

Donald Strang and Hamish Harris each hold options over 13,600,000 ordinary shares. David Lenigas holds warrants over 40,000,000 new ordinary shares and options over 13,000,000 ordinary shares.

The percentage of securities in public hands is 33.04%. There are no restrictions on the transfer of AfriAg's securities.

Further Information

AfriAG was admitted to trading on AIM on 22 November 2010 as 3D Diagnostic Imaging plc ("3DR"); a copy of the admission document dated 26 October 2010 is available on the Company's website, www.afriag.com. The Company subsequently changed its name and the nature of its operations on 30 April 2013. Prior to the name change, 3DR operated within the healthcare equipment & services sector.

The Company will remain admitted to trading on AIM following admission to ISDX. Its ordinary shares are eligible for CREST settlement.

The Company is subject to the UK City Code on Takeovers and Mergers.

David Lenigas, Executive Chairman, commented: "We are seeking admission to ISDX as a means of further increasing liquidity and trading options for our shareholders and creating an additional platform on which to promote the Company's growth".

The directors of AfriAg Plc accept responsibility for this announcement.

COMPANY CONTACT DETAILS:

AfriAg Plc

38 Jermyn Street

London

SW1Y 6DN

Telephone [phone]

www.afriag.com

CORPORATE ADVISER AND CONTACT DETAILS:

Cairn Financial Advisers LLP, 61 Cheapside, London EC2V 6AX

James Caithie / Jo Turner / Richard Nash

Telephone: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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October 09, 2015 02:00 ET (06:00 GMT)