AfriAg Plc - Board Changes and Operations Update

30 June 2016

AfriAg PLC

(“AfriAg” or the “Company”)

Board Changes and Operations Update

AfriAg PLC (ISDX:AFRI), the rapidly expanding London listed African focused agri-logistics and food sales company, is pleased to announce the appointment of Mr David Lenigas as the new Executive Chairman of the Company. Mr Hamish Harris will assume the position of Non-Executive Director going forward.

David Lenigas has extensive first hand corporate and operational experience with the Company, having previously served as Executive Chairman of the Company until the end of 2015. He is the Chairman of AfriAg’s 100% owned food sales, marketing and export division, AfriAg Marketing (Pty) Limited in South Africa and is also Chairman of the company’s 40% owned Agri-logistics AfriAg SA (Pty) Limited in South Africa.

David Lenigas, the Company’s new Executive Chairman, commented;

“I’m excited to be heading up AfriAg once again as the Company continues its expansion. The Company has seen significant growth from its birth only a few years ago and I plan to assist the team accelerate this growth over the coming years as many countries in the world rely more and more on African fresh produce as a proportion of their overall food import equation to feed their growing populations.”

“The recent referendum result in the UK to potentially leave the European Union should have little impact on AfriAg’s business of exporting African fresh food to the global marketplace as the business trades in multiple currencies. Indeed, the Company sees additional opportunities arising from this situation.”

Update on Operations:

AfriAg Marketing Pty Ltd ("AfriAg Marketing"), the 100% owned food sales, marketing and export division, which grew in excess of 400% in 2015 with full year revenues of South African Rand (“ZAR”) 38.395 million (approximately £1,9 million), continues to motor ahead in 2016.

Unaudited management accounts for the year to 24^th June 2016 (nearly 6 months) shows significant revenue growth to ZAR 29.7 million (approximately £1.47 million), with month to date revenues to 24^th June of ZAR 7.1 million (approximately £0.35 million).

This month, AfriAg Marketing is primarily selling and exporting significant quantities of:

• Peas (sugar snap and mange tout) to Holland, UK and New Zealand (air-freight)
• Pineapples to the USA and Holland (air-freight)
• Passionfruit to Holland and Switzerland (air-freight)
• Apples and Citrus from South Africa in to Africa (trucking)

An update on our 40% owned specialist African agri-logistics group AfriAg SA (Pty) Ltd ("AfriAg SA") which reported full year revenues to 31 December 2015 of ZAR 119.522 million (approximately £6.155 million) will be provided in the Company’s Interims in the next few months.

David Lenigas holds 121,000,000 ordinary shares representing approximately 8.76% of the Company's issued share capital.

The directors of the Company accept responsibility for the contents of this announcement.

For further information, please contact:

AfriAg Plc:                                                                  David Lenigas (Executive Chairman) Anthony Samaha (Finance Director) Hamish Harris (Non-Executive Director) Donald Strang (Non-Executive Director)	[phone]
Peterhouse Corporate Finance Limited Guy Miller Fungai Ndoro	[phone]

ABOUT AFRIAG PLC:

AfriAg was formed only a few years ago with the view of establishing a significant African based agri-logistics and perishable food sales, marketing and export investment company, with the principal aim of exporting African food products to the global marketplace. Our client base continued to grow, with the Group now providing bespoke total agri-logistics solutions (trucking, airfreight and seafreight) for some of the largest companies and names in southern Africa and indeed globally.

Additional Information:

In addition to his directorship of the Company, David Lenigas holds or has held the following directorships in the five years prior to the date of this announcement:

Current directorships	Past directorships
Doriemus Plc Active Resource Realisation Fund	AfriAg plc
Gold Mines of Wales Limited	Inspirit Energy Holdings Limited
Central African Investments Plc	Evocutis Plc
AfriAg Limited (UK) (formerly Buchanist Limited)	Bacanora Mineral Ltd
REM Mexico Limited	Rare Earth Minerals plc
Rare Earth Resources Limited	Byron Energy Pty Ltd
AfriAg Limited (BVI) (formerly Buchanist Limited)	Lonrho Jersey Limited
Emy Services MC Sarl AfriAg (Pty) Ltd	Lonrho Fresh Limited
AfriAg Holdings (Pty) Limited (SA)	Galleon Resources Limited
AfriAg Marketing (Pty) Limited (SA)	Lonrho Food Supply Chain Management Limited
AMKI Investments Limited	Lonrho Infra One UK Limited
Leni Gas Cuba Limited (formerly Leni Gas and Oil Limited)	Polemos plc
TravelWelcome Ltd	UKOG Weald Limited
	UKOG (GB) Limited
	UKOG Solent Limited
	UK Oil & Gas Investments plc
	Horse Hill Developments Limited
	Solo Oil International Limited
	Octagonal plc
	Lonrho Projects Agri (Pty) Limited
	Lonrho Energy (Pty) Limited
	Lonrho Securitec (Pty) Limited
	Lonrho Amathonga Hotels (Pty) Limited
	Swissta Mozambique Lda
	Sociedade Comercial Bytes & Pieces Limitada
	Cambria Africa plc (formerly LonZim plc)
	Blueberry International Services Limited
	Wardlaw (1989) Limited
	Le Har (Pvt) Limited
	Rex Mining (Pvt) Limited
	Peak Mines (Pvt) Limited
	Gardoserve (Pvt) Limited
	Celsys Limited
	ForgetMeNot Africa Limited
	Lonzim Agribusiness (BVI) Limited
	Quickvest 525 (Pty) Limited
	Lonzim Air (BVI) Limited
	Southern African Management Services
	Paynet Limited
	African Solutions Limited
	Medalspot (Pvt) Limited
	Blueberry Print (Zambia) Limited
	Morningdale Properties (Pvt) Limited
	Lanuarna Enterprises (Pvt) Limited
	LonZim Hotels Limited
	Celsys Zambia Limited
	WS Foods (Pty) Ltd
	Linus Business Options (Private) Limited
	Firstfood Enterprises (Private) Limited
	Chenyakwaremba Farm (Private) Limited
	Leopard Rock Hotel Company (Pvt) Ltd
	Lyons Africa Holdings Limited
	Millchem Holdings Limited (formerly Lonzim
	Properties Limited)
	Lonzim Holdings Limited
	Micobe Property Development Limited
	Lonrho Properties Zimbabwe (Pvt) Ltd
	Sindu Properties (Private) Limited
	One Hundred & Seventeen Baines Avenue
	(Private) Ltd
	Sol Aviation Company Limited
	670 Plc
	Zest Music Limited
	Zest Songs Limited
	Zest Entertainments Limited
	Reggae Tunes Limited
	Complete Enterprise Solutions Limited
	Aldeamento Turistico de Macuti, SARL
	Lonrho Auto Distributors Limited
	Textile Investment Company Limited
	Solo Oil (Argentina) Limited
	Vatukoula Gold Pty Ltd (formerly Westech Gold
	Pty Ltd)
	Vatukoula Finance Pty Ltd (formerly Westech
	Finance Pty Ltd
	Vatukoula Australia Pty Ltd (formerly Westech
	Rollex (Pvt) Limited
	Rollex (Pty) Limited
	e-Kwikbuild Housing Company (Pty) Limited
	Lonrho Management Services Limited
	Lonrho Zimbabwe Management Services (Pvt)
	Limited
	Lonrho Africa Management Services
	(Zimbabwe) Limited
	Lonrho Africa Motor Sales Limited
	Norse Air Limited
	South African Independent Liners Services (Pty)
	Limited
	Lonrho Africa Holdings BV
	Lonrho Springs BV
	Lonrho Air BV
	Lonrho Ports BV
	Lonrho Africa Hotels BV
	Lonrho Hotels BV
	Lonrho Hotels Mozambique BV
	Lonrho Africa Agribusiness BV
	Lonrho Africa Distributors BV
	Lonrho Africa Food Processing BV
	Lonrho Africa Motors BV
	Lonrho Distributors BV
	Lonrho Motors BV
	Lonrho Agribusiness Limited
	Laytons Offshore Limited
	Lonrho Equipment Limited
	Mozambique Machines Limited
	Crop Harvest Limited
	Oceanfresh Seafoods (Pty) Limited
	Cultivate Harvest Limited
	LAH Jersey Limited
	Protea Seafoods Limited
	Hotel Accommodation Limited
	Afex Holdings Limited
	Lonrho Water Limited
	Africa Expeditions Limited
	Africa Expeditions TZ Limited
	Africa Expeditions Uganda Limited
	Best In Tents Limited
	Global Horizons Limited
	Lonrho Hotels Limited
	LAH Mozambique Hotels Limited
	DRC Hotels Limited
	Lonrho Ports & Infrastructure Limited
	Lonrho Infrastructure Limited
	Lonrho Ports Limited
	LAH Jersey 2 Limited
	Fish On Line (Pty) Limited
	Lonrho Support Services Limited
	Lonrho Integrated Support Services Limited
	Lonrho Hotels (Holdings) Limited
	Lonrho Budget Hotels Limited
	Lonrho IT Limited
	LAH Jersey 3 Limited
	Lonrho Transport Limited
	Lonrho Logistics (Pty) Limited
	Luba Freeport Limited
	Lonrho South Africa (Pty) Limited
	Lonrho Management South Africa (Pty) Limited
	Lonrho Projects South Africa (Pty) Limited
	Lonrho Projects Consulting (Pty) Limited
	Lonrho Transport Limited
	Stellar Resources Plc
	Solo Oil plc
	LGO Energy plc (formerly Leni Gas & Oil plc)
	Leni Trinidad Ltd
	Compania Petrolifera de Sedano S.L.
	Lonrho Air Three (BVI) Limited
	Lonrho Aviation (BVI) Limited
	Lonrho Air (2) (BVI) Limited
	Five Forty Africa (BVI) Limited
	Lonrho Air Africa (BVI) Limited
	Lonrho Air (BVI) Limited
	Five Forty Aviation Limited
	FastJet plc
	Lucapa Diamond Company Ltd (formerly Lonrho
	Mining Limited)
	Reef Resources Limited
	River Diamond UK Limited
	Tanzania Machines Limited
	Tanzania Harvest Limited
	Lonrho Ports Ghana Limited
	Lonrho Ghana Ports Limited
	LonAgro (SS) Limited
	Lonrgo Market Expansion Services Limited
	Benson Global Trading Limited
	RET Services Limited
	Rare Earth Resources Limited
	Lon Agro Tanzania Limited
	Yuagong (Pty) Limited
	Lonrho Hotels Nigeria Limited
	Lonrho Hotels SA Limited
	Lonrho Hotels Ghana Limited
	Lonrho Hotels Kenya Limited
	Lanitrim (Pty) Limited
	Caropix (Pty) Limited
	Lonrho Investments Limited (formerly Lonrho
	African (Investments) Ltd)
	Lonrho Support Limited (formerly Lonrho
	Holdings Limited)
	Swissta Holdings Limited
	Lonrho Plc (now Lonrho Limited)
	Lonrho Africa (Holdings) Limited
	Strenner Holdings Limited
	Lonrho Ports Limited
	Oceanfresh Seafoods (UK) Limited
	Lonrho Resources Ltd
	Lonrho Finance Ltd
	Lontel Ltd
	Lonrho Water Limited
	Fresh Direct Limited
	Lonrho Oil (Malawi) Limited
	Lonrho Infrastructure (BVI) Limited
	Lonrho Hotels Congo (BVI) Limited
	Indit Technology Distribution (Pty) Limited
	Complete Enterprise Solutions South Africa (Pty)
	Ltd
	Lonrho Hotels Management Services
	(BVI)Limited
	Lonrho Agriculture Angola Limited

David Lenigas was a director of:

1. SA Independent Liner Services Pty Ltd (‘‘SAILS’’) when it was placed into liquidation on

   15 October 2008. SAILS was a subsidiary within the Lonhro Plc group of companies

   (‘‘Lonrho Group’’). A unanimous board resolution placed SAILS into liquidation, the

   Lonrho Group being the major creditor, within the liquidated business being shown as a

   discontinued activity in the historic financial statements in the Lonrho Group; and

2. Norse Air Limited (‘‘Norse’’) which was placed into liquidation on 20 December 2010. At

   the point of liquidation, Norse was a wholly owned subsidiary within the Lonrho Group

   and was placed into liquidation by a unanimous board resolution of Norse, with this

   business being shown as a discontinued activity in the historic financial statements of

   Lonrho Group.

   Certain of the directorships above, are positions held as a result of Mr Lenigas' role as a board director of Lonrho plc (from which he resigned in September 2012), and in respect of which Mr Lenigas has resigned and in some instances is awaiting formal confirmation from the local Companies House equivalent.

   There is no further information that is required to be disclosed pursuant to Paragraph 21, Appendix 1 of the ISDX Growth Market – Rules for Issuers.

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