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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Afriag | LSE:AFRI | London | Ordinary Share | IM00B3VVCM89 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.085 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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 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:
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) |
+44 (0)20 7440 0640 |
Peterhouse Corporate Finance Limited Guy Miller Fungai Ndoro |
+44 (0)20 7469 0930 |
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:
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
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.
Copyright e 29 PR Newswire
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