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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Afriag | AFRI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 0.085 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.085 | 0.085 |
| Top Posts |
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Posted at 19/3/2021 08:25 by pr100 Has Lenigas dumped his 124m Afriag shares now? He doesn't appear on the Afri website list of shareholders any more. If so, he obviously isn't expecting big things from the Apollon RTO - which will of course see him, Strang and Harris stepping down from the Afriag where-did-our-assets |
Posted at 26/9/2019 08:10 by cpap man 26 September 2019AfriAg Global PLC (“AfriAg Global”, the “Group” or the “Company” Unaudited Interim Results for the six months to 30 June 2019 AfriAg Global PLC (NEX: AFRI), today announces its interim results for the 6-month period ended 30 June 2019. Investment policy change to include Medical Cannabis investments: On 12 September 2018, shareholder approval was obtained at a general meeting for the expansion of the Company’s investment strategy to include medicinal cannabis. The Company has now expanded its existing investment strategy to also include investments in companies, projects or products that are progressing research in and development of medicinal cannabis and its derivatives, producing or cultivating medicinal cannabis, producing or supplying products derived from or related to cannabis (including, but not limited to, hemp and cannabidiol products); and/or commercialising or marketing medicinal cannabis and its derivatives. The Company sees tremendous opportunities in the sector. The Company has already made a number of investments into this medical cannabis sector and going forward, the Company is likely to increase its exposure in this sector by looking to acquire control of certain target companies, although it may also consider acquiring non-controlling shareholdings in legal medical cannabis companies. Future investments to be considered by the Company may be in either quoted or unquoted securities and may be made by direct acquisition of an interest in companies, partnerships or joint ventures, or direct interests in projects and these investments can be at any stage of development. Accordingly, the Company’s proposed future equity interests in proposed investments may range from a minority position all the way up to 100 percent ownership. The Directors primary objective is to achieve the best possible value over time for Shareholders, primarily through capital growth. The Company’s Medical Cannabis Investments: During the period the Company announced it had agreed with Apollon Formularies Ltd (“AFL” or “Investee̶ The Company raised £1.25m during the period to assist with the acquisition of this Investment and now owns a total of 4.0 million shares in AFL, representing circa 2.325 per cent. of AFL’s issued share capital. The Company is working diligently with its legal advisors on the complicated and necessary due diligence to potentially acquire all of AFL. Further announcements will be made with respect to this as legal and accounting work progresses. As previously announced to shareholders, the Company is in detailed discussions and negotiations with the major shareholders of AFL, with which it has been granted a right of first refusal to acquire all the issued and outstanding shares owned by those shareholders in consideration for the issue and allotment to those shareholders of new ordinary shares in the capital of the Company at a price of 0.1 pence per new ordinary share (“ Right of First Refusal ”) which values the transaction at circa £40,000,000. Following exercise of the Right of First Refusal, which will be subject to approvals from (as applicable) (1) all the necessary government authorities, including the Cannabis Licencing Authority (in Jamaica ); (2) all necessary regulatory authorities; (3) the necessary approvals from the Company’s shareholders; and (4) approvals from the shareholders of AFL, the existing shareholders of AFL will hold circa 93.54 per cent. of the issued share capital of the Company. Following completion of the Investments and should the Company exercise the Right of First Refusal, the resulting enlarged group will be a vertically integrated medicinal cannabis group with operations in Jamaica and with plans to expand elsewhere throughout the world. Agriculture Investments: Sadly, the market has not considered what has been achieved with our investments in the agricultural sector well, even though these investments continue to perform in a difficult global environment. We, as a Company, will assess whether further or continued investment in the sector is warranted, as we move towards the medical cannabis focus. To this extent, the Company has decided that no further investment will be made in to our current agri-logistics investments as we now move our investment focus to the legal medical cannabis sector. Financial Results: During the period, the Company generated revenues to £1,323,000 (6 months ended 30 June 2018: £1,501,000) and made a gross profit of £163,000 (6 months ended 30 June 2018: £38,000). The operating loss for the period was £30,000 (6 months ended 30 June 2018: loss £118,000). Loss before tax was £867,000 (6 months ended 30 June 2018: loss £97,000) mainly attributable to the impairment of associate of £850,000. There was a weighted loss per share of 0.047p (30 June 2018: loss per share 0.007p). The unaudited interim results to 30 June 2019 have not been reviewed by the Company’s auditor. In Conclusion: We have a very unique ability, being one of the few companies listed in London and indeed Europe, to actually undertake investments in the fast-growing legal medical cannabis sector. It has taken a great deal of management and legal work to achieve this, and this will be a big focus for the management over the coming year. Having recently completed our initial investment in Apollon Formularies Ltd, we are actively pursuing to further increase our stake in this key investment further as discussed above. We fully appreciate that time is of the essence, and your board, its lawyers and indeed the AFL team are working tirelessly to wrap up this transaction as soon as possible. The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further significant progress over the next period and beyond. The directors of the Company accept responsibility for the contents of this announcement. David Lenigas Executive Chairman 26 September 2019 For further information, please contact: AfriAg Global plc: +44 (0) 20 7440 0640 David Lenigas Corporate Adviser and Broker: Peterhouse Capital Limited +44 (0) 20 7469 0930 Guy Miller / Allie Feuerlein |
Posted at 25/6/2019 12:06 by cpap man #AFRINEX:AFRI #AFRI Like the article in the Mail on Sunday reference #AFRI moving to AIM, LSE [standard] list or failing that NASDAQ or the TSXv in Canada As soon as that is done then for sure #AFRI will go whoosh!!!! 😎 David Lenigas @DavidLenigas Following Following @DavidLenigas More I managed to pick up 17 million AfriAg yesterday out of the 62 million traded. I can smell this one as a very good one. I want to be part of Dr Barnhill’s cancer cure efforts. AfriAg Global Plc: Director/PDMR Shareholding @AfriAgPLC |
Posted at 01/6/2019 11:04 by pr100 In case David Lenigas is about to dispose of Afriag Global Plc's assets (or write them off), shareholders should hold the company to account for its significant alleged investment in Afriag (Pty) Ltd and its associate companies.There can be no doubt, for example, that AFRI owned 40% of then associate, Amalgamated Tobacco Manufacturing (ATM). Notwithstanding the fact that ATM's assets were subsequently transferred to another company owned by Paul de Robillard, AFRI's share of it will still need to be accounted for in the final analysis. Also, there has been no formal filing by Afriag (Pty) Ltd which declares the 40% equity interest owned by AFRI so shareholders may find their interests obstructed by legal challenges when AFRI's assets in South Africa are disposed of. In email conversations with me ("The Lenigas Emails"), apparently monitored by his lawyers, Lenigas tried to claim, untruthfully, that neither he nor AFRI had ever had any involvement with ATM - but the evidence shows otherwise. As AFRI may now be about to declare disposals or write-offs for all its southern African agri-logistics assets, shareholders need to know whether they are being treated fairly. To that end, I urge you to read or re-read The Lenigas Emails and seek legal advice before the assets disappear. You'll find them here - and of course, the original documents are unredacted: or |
Posted at 21/8/2018 09:57 by pr100 That document will have to be withdrawn as it contains a falsehood - which might mean delaying the GM.It states that AFRI own 40% of a non-existent company - Afriag SA (Pty) Ltd. As Lenigas is well aware, AFRI allegedly owns 40% of a company called Afriag (Pty) Ltd - which at least is a real company, even if hasn't recorded AFRI's 40% stake anywhere. PIs must monitor Lenigas's tricks. There's a reason he is trying to sweep Afriag (Pty) Ltd under the carpet - and it won't be good news for AFRI shareholders. Of course, there was no need to alter AFRI's investment strategy since the previously approved strategy gave AFRI full licence to expand into cannabis. Most likely, Lenigas only wants permission to issue new shares without hindrance from shareholders' pre-emption rights. If you give him that, you will be diluted util the cows come home. |
Posted at 25/6/2018 20:26 by pr100 So AFRI wants shareholder approval tomorrow to invest in the now-burst cannabis bubble. Sounds like a last-minute thing - and why do they need approval anyway as their current investment policy allows them to invest in anything agricultural anywhere in the world - including the processing of agricultural products, which would presumably cover cannabis and medical cannabis.It looks like a diversionary tactic in the hope that it leaves no time to answer the important AGM questions about where all the money has gone and where AFRI's 40% stake in Afriag (Pty) Ltd is legally recorded. And where will the new investment funds come from? AFRI is basically skint - and so is Afriag (Pty) - and the prospect of raising cash on the NEX exchange hover between slim and none. But most of all this tells me that AFRI needs cash to survive and they are planning to raise some under the cover of some new cannabis venture in the hope that some mugs will show up - which they would not do for an AFRI keep-the-lights-on placing. Lenigas will of course promise a move to a proper trading platform but we've heard that one too many times before. Anyway, AFRI can't afford to be on a proper exchange in the UK, even if Lenigas were to be made welcome, which is also unlikely. Watch yourselves! Ask the questions and demand answers. If you shake anyone's hand, count your fingers. And if the share price ever rises again, do the sensible thing. Lenigas never (ever) makes money for the mugs daft enough to hold his shares long term. |
Posted at 18/4/2018 20:47 by pr100 Afriag mysteryAny sad sacks here who are still invested in Afriag Global Plc and may still be thinking that they own 40% of Afriag (Pty) Ltd. Well, the seriously bad news is that the alleged equity stake in Afriag (Pty) Ltd has not been formally recorded in the designated place and you guys need to investigate urgently with Lenigas what is going on. You will recall this from AFRI's 30/7/2013 RNS: "AfriAg SA has also adopted, with immediate effect, a Memorandum of Incorporation ("MOI") which will, inter alia, regulate the relationship between AfriAg, as a 40% shareholder in AfriAg SA on completion, and AfriAg SA. The MOI replaces the shareholder agreement which, as announced on 12 July 2013, was intended to be put in place with both parties at the same time as the SPA. The MOI contains the same key protections for AfriAg as the previously proposed shareholder agreement." But there is nothing in the Afriag (Pty) MOI to show that AFRI has any stake in the company. You can download the MOI here to verify for yourselves: I wrote to ask CIPC, the South African regulator, whether there could be any alternative version of Afriag (Pty)'s MOI anywhere and they wrote back to confirm that "the company has not changed its MOI since incorporation". In other words, AFRI's 30/7/201 You MUST demand proof from Lenigas urgently that your investment in Afriag (Pty) is recorded properly and legally somewhere else. If it is not, then it needs to be recorded and filed without delay or you will have effectively lost your money. |
Posted at 11/5/2017 09:47 by cpap man AfriAg Global PLC(“AfriAg Global” or the “Company” Audited final results for the year ended 31 December 2016 Chairman’s report (incorporating the strategic review) This has been an excellent year for the Company business growth as a global agri-logistics logistics provider, and I am pleased to present the annual report and financial statements for AfriAg Global plc (the “Company” Our global distribution footprint has expanded considerably during the year, as we moved to distributing perishable food products by road, air and sea for and to global customers (South Africa, Mauritius, Mozambique, Zimbabwe, Zambia, DRC, Kenya, USA, UK, France, Holland, Russia, Japan, New Zealand and others). AfriAg Marketing had a very strong year, with revenues growing 54% to £3.035 million during the period, a significant increase from the previous year’s reported revenue of £1.977 million. Specialist global agri-logistics group AfriAg SA, continues to grow at a fast pace and has developed into a significant global logistics enterprise. It has reported a 91% increase in full year revenues to £11.704 million for the twelve months ended 31 December 2016, versus revenues of £6.122 million for the previous year, with a gross profit of £927,000 (2015: £552,000) and a net profit for the year of £104,000 (2015: £359,000). The Company has equity-accounted for its 40% share of this profit for 2016, being £42,000. Gross profit for the Group also increased significantly to £334,000 compared to the £50,000 reported for the previous year. Group Results for the period: The Group’s gross turnover has increased by over 54% to £3.035 million for the year (2015 - £1.977 million). The Group’s net loss after taxation for the year was £9,000 (2015 - £96,000 loss). The Group’s current assets including cash at 31 December 2016 amounted to £1,261,000 (2015 - £810,000). The Group’s 40% owned agri-logistics investment, AfriAg (Pty) Ltd, gross turnover increased 91% to £11.704 million (2015 - £6.122 million) and reported a net profit of £104,000 (2015 - £359,000). Strategic Review for the Period: AfriAg Global was formed only 4 years ago with the view of establishing a global agri-logistics company, with the principal aim of exporting African perishable food products to the global market place. We are now seeing this business plan coming together as envisaged and are now rapidly expanding our operations to providing elite logistic solutions for the timely movement of perishable food not only from Africa to the world but also from the world in to Africa. At the heart of our business is our own global network, fleet and staff based in Johannesburg at our large modern facilities near O.R. Tambo International Airport. The AfriAg HQ is a full-service logistics facility equipped with the latest facilities to meet our customer’s demanding needs. And our global partner network spans strategic road, air and sea routes harnessing our resources across this network enables us to deliver bespoke logistics solutions for our customers. We have strong relationships with our freight counterparties and their branches, fleet, facilities and infrastructure in locations across Europe, Asia, North Americas, and the Middle East. AfriAg has grown to supply our customers with world class global logistics delivering across our global footprint, international and domestic freight transport services, distribution and refrigerated warehousing services through to remote haulage logistics, aviation and marine logistics support services. Delivering these services are our main priority. Collectively, they enable us to efficiently and effectively deliver the solutions our customers are looking for, right around the world. AfriAg Marketing Pty Ltd (100% owned by AfriAg Global Plc): AfriAg Marketing has experienced an excellent year of trading, increasing revenues to ZAR 60.562 million (£3.035 million) in 2016, compared to ZAR 38.395 million (£1.977 million) in 2015. This 54% increase in revenue not only demonstrates strong development, it also reinforces the belief that the company’s low-overhead, grower-focused structure works in today’s market. The model has been keenly welcomed by both growers and end clients. This year, the business has been active in the export, distribution and trading of blueberry, passion fruit, pineapple, apple, strawberry, butternut, peas, fine beans, mange tout, sugar snap, baby corn, chillies, baby veg, and herbs. As well as the UK, the company is now supplying Switzerland, the Netherlands, New Zealand, Russia, and the USA (New York and Los Angeles). In this respect, the addition of a UK office has proven very beneficial in terms of range development and in driving the business into more strategic markets. This maximises the potential of the growers, and the appetite from the market for a more direct relationship with growers has also been welcomed. Profit levels remained good at ZAR 2.057 million (£105,000) despite a forex loss of ZAR 1.297 million (£67,000) caused by the immediate fall-out from the UK’s Brexit vote. The recovery from this exchange rate issue showed that the foundations of the business are strong and augurs well for ongoing growth. The company’s core ethos (of maximising the return to growers, paying them on the best terms available, and ensuring that end clients get exactly what they want) is reaping its reward. Both sides are coming back and asking for more. This we feel is the main reason for continued success and will remain our motivation. The coming year promises more exciting times as the company builds on the foundations laid. The decision to drive into more diverse markets worldwide during periods of economic uncertainty is opening the door to significant growth, and our in-house logistics strength undoubtedly adds huge value. This stands out as a relatively unique offering in the market place. It remains clear that the model is both working and gaining momentum. AfriAg (Pty) Limited (40% owned by AfriAg Global Plc): AfriAg SA is a truly global and fast growing logistics business. Road haulage, air freight and sea freight of fresh and frozen food in to and out of Africa and to many destinations around the world. AfriAg SA now operates logistics services to many major global cities and ports around the globe. The company has turned into a truly global enterprise and we seeing tremendous growth across many markets. We are now one of the largest air freighters of perishable food out of southern Africa using some of the world’s largest airlines and providing bespoke first world logistics to destinations all over the world through our rapidly expanding global network of airlines and agents. AfriAg SA had an outstanding trading year in 2016, reporting an increase of 91% in revenues to £11.704 million in the full year to 31 December 2016, versus revenue of £6.122 million for the previous year, with a gross profit of £927,000, a net profit for the year of £104,000. The Company has equity-accounted for its 40% share of this profit for 2016, being £42,000. Public Trading Platform for the Company’s shares: On 25 January 2016, the Company posted a circular to Shareholders convening a general meeting on 16 February 2016 proposing that Shareholder’s should vote to cancel the admission of the Company's Ordinary Shares to trading on AIM under AIM Rule 41. The Company’s Board had determined that in their view and given the size and stage of development of the Company, that the ISDX Growth Market (now renamed NEX Exchange Growth Market) provides Shareholders with the most appropriate listing platform on which to promote the Company's growth strategy. On 16 February 2016, the Company’s Shareholders voted in favour at that General Meeting to delist from the London AIM market. The Company’s shares ceased trading on AIM market on 24 February 2016 and remain trading on London’s NEX Exchange Growth Market under the Ticker Symbol “AFRI”. Change of Name: The Company changed its name on 25 July 2016, from AfriAg Plc to AfriAg Global Plc to reflect the dramatic changes seen by the business since its birth from an African centric bespoke food logistics business to one that now provides global logistics, food sales, marketing and bespoke distribution services to many corporations and food wholesalers around the world. The Company’s ticker symbol on the London ISDX Growth Market (now called NEX Exchange Growth Market) remained unchanged as “AFRI” and the Company’s new website changed to www.afriagglobal.com Outlook The Company anticipates another year of strong growth. The Company also intends to identify further investments in the African agri-logistics sector, to enhance the AfriAg brand, which has now become very well established. The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further significant progress over the next period and beyond. David Lenigas Executive Chairman |
Posted at 27/9/2016 14:30 by cpap man AfriAg Global PLC(“AfriAg Global”, the “Group” or the “Company” Unaudited Interim Results for the six months to 30 June 2016 AfriAg Global PLC (ISDX: AFRI), the London listed global food logistics specialists, today announces an excellent first half year performance with it’s first ever half year profit recorded in its unaudited interim results for the 6-month period ended 30 June 2016. Summary of Financial Results for the period: The Group’s gross turnover has increased by over 264% to £1.422 million for the period (6 months ended 30 June 2015 - £537,000) The Group’s 40% owned AfriAg SA’s gross turnover has increased by 240% to £4.430 million for the period (6 months ended 30 June 2015 - £1.849 million) The Group’s net profit after taxation for the period was £48,000 (6 months ended 30 June 2015 - £168,000 loss). The Group’s current assets including cash of £172,000 at 30 June 2016 amounted to £1,063,000 (6 months ended 30 June 2015: £977,000). David Lenigas, Executive Chairman of AfriAg Global, commented: "The start of 2016 has seen the business and its investments grow substantially, indeed more than we could have anticipated. We see an even stronger second half performance in front of the us as we gear up for the very busy pre-Christmas period. Our customer base has spread far more globally over the last 6 months, with regular airfreight shipments of food, not only around and within southern Africa, but to the USA, Europe, the Middle East and Asia.” Strategic Review for the Period: AfriAg Marketing: (100% owned by the Company) The first half of 2016 has been an outstanding period of growth for the Company, with its 100% owned marketing division AfriAg Marketing Pty Ltd ("AfriAg Marketing") generating in excess of 264% increase in revenues, compared to the same period last year, to ZAR 31.307 million (£1.422 million) with a net profit for the period of ZAR 2.153 million (£98,000) and total assets of ZAR 7.569 million (£382,000). AfriAg Marketing has had an excellent first half trading performance, almost matching the whole of last year’s trading performance. We continued to trade and ship our core lines of peas (sugar snap and Mange tout), pineapples, passionfruit, citrus, apples, herbs, chilies, butternuts from Africa to export markets mainly in Europe. AfriAg (Pty) Ltd: (40% owned by the Company) In addition, the Company is pleased to report that the specialist global agri-logistics group AfriAg (Pty) Ltd ("AfriAg SA") in which the Company has a 40% equity shareholding, continues to grow from strength to strength. It has reported a 240% growth in top line revenues for the 6 month to 30 June 2016 of ZAR 97.555 million (£4.430 million) compared to the same period last year, with a net profit for the 6 months of ZAR 0.338 million (£15,000) and total assets of ZAR 68.818 million (£3.473 million). The Company has equity-accounted for its 40% share of this profit for 2016, being £6,000 (30 June 2015: Loss £19,000). Likewise, AfriAg SA had a stellar performance for the period with its airfreight shipments of perishable food for the period recording a record 1.45 million kg, which has increased by 158% over the same period last year (6 months ended 30 June 2015: 907,000 kg). This growth has come primarily from increasing exports of perishable food from southern Africa to global markets stretching from Asia, the USA and Europe. The business has also seen a substantial increase in business from shipments of frozen meat products by sea and road from South America, Europe and the USA in to Africa. Outlook: In August 2016, the Company announces that it has launched a new 100% owned UK subsidiary, AfriAg International Limited ("AfriAg International"), to promote and sell fresh food produce from southern African producers directly in to the UK and European market places. AfriAg International will provide a UK representational base for AfriAg Marketing's Sub-Saharan based growers, who are already permitted to sell their fresh food produce directly in to the EU markets, and provide them with direct access to UK and European retailers. AfriAg International intends to offer fresh food and vegetables from producers across Kenya, Zimbabwe, Mauritius and South Africa that are sustainable, renewable and responsibly grown. Our fresh produce offer will include: Herbs, Apples, Pears, Blueberries, Physalis, Lychees, Citrus, Table Grapes, Fine beans, Sugar snap, Mange tout, Pineapples, Passionfruit, Herbs, Chilies, Butternut and Sweet potatoes. AfriAg SA has advised the Company that it has placed orders for another 20 refrigerated trucks to increase its fleet from the current 52 to 72 before the end of the year, to cope with the pace of expansion of the trucking logistics division in southern Africa. Financial Results: During the period, the Company increased revenues to £1,422,000 (6 months ended 30 June 2015: £537,000) and made a gross profit of £183,000 (6 months ended 30 June 2015: £49,000). The operating profit for the period was £6,000 (6 months ended 30 June 2015: loss £154,000). The total comprehensive income for the period attributable to equity holders of the parent was £87,000 (6 months ended 30 June 2015: loss £169,000). There was a weighted earnings per share of 0.003p (30 June 2015: loss per share 0.01p). Current assets at 30 June 2016 amounted to £1,063,000 (30 June 2015: £977,000). In addition, the Company’s 40% owned AfriAg SA increased revenues to £4.430 million (6 months ended 30 June 2015: £1.849 million) and made a gross profit of £286,000 (6 months ended 30 June 2015: £58,000), with a net profit for the 6 months of £15,000 and total assets of £3.473 million. The Company has equity-accounted for its 40% share of this profit for the 6 months to 30 June 2016, being £6,000 (6 months ended 30 June 2015: Loss £19,000). The unaudited interim results to 30 June 2016 have not been reviewed by the Company’s auditor. In Conclusion: The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further progress over the next period and beyond. David Lenigas Executive Chairman 27 September 2016 |
Posted at 30/6/2016 08:00 by cpap man RNS out from AFRIAfriAg PLC (“AfriAg” 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 24th June 2016 (nearly 6 months) shows significant revenue growth to ZAR 29.7 million (approximately £1.47 million), with month to date revenues to 24th 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. |
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