Notice of AGM - Amendment (4725W)

TIDMLZM

RNS Number : 4725W

LonZim PLC

31 January 2012

Lonzim PLC

Notice of AGM, Proposed Management Changes and Change of Name - REPLACEMENT for RNS 4341W

31 January 2012

The date and time of the Annual General Meeting ("AGM") announced on 31/01/2012 at 0700 under RNS 4341W should read 24 February 2012 at 3.00 p.m.

The remainder of the text is unchanged and is reproduced in full below.

LonZim Plc

(the "Company")

Notice of AGM, Proposed Management Changes and Change of Name

The Company announces that the Annual General Meeting ("AGM") of the Company will be held on 24 February 2012 at 3.00 p.m. at The May Fair Hotel, Stratton Street, London, WIJ 8LT. The Notice of Meeting, together with a form of proxy, will be posted to shareholders today. Electronic copies of these documents are also available on the Investors section of the Company's website at www.lonzim.co.uk.

Summary

-- Board of LonZim Plc advises that the Company has reached a stage where it can operate without further direct support from Lonrho Plc.

-- All five members of the Board nominated by Lonrho Plc have agreed to step down from the Board of LonZim Plc at the AGM, subject to all resolutions being passed

   --      Four new Directors are to be appointed to the Board at the AGM 

o Ian Perkins as Non-Executive Chairman

o Edzo Wisman as Executive Director and Chief Executive Officer

o Itai Mazaiwana as Non-Executive Director

o Fred Jones as Non-Executive Director

   --      LonZim Plc intends to change its name to Cambria Africa Plc 

-- The Company remains committed to Zimbabwe, to its current operating businesses and to growth in shareholder value

In a notice of AGM of London based LonZim Plc, listed on the AIM market of the London Stock Exchange (AIM:LZM), published on 31 January 2012, the Board advised that the Company had reached a stage in its corporate development where it is able to operate without further direct support from Lonrho Plc. As a result, members of the Board nominated by Lonrho Plc have agreed to step down at the AGM, subject to all resolutions being passed at the AGM, and four new Directors will be proposed for appointment. After the AGM Lonrho Plc will retain its 22.9 per cent. shareholding in the Company. The Board has received irrevocable undertakings to vote in favour of all the Resolutions from shareholders holding, in aggregate, 24.4 per cent. of the Company's existing issued share capital, of which 0.516% represents shares in respect of which Mr Paul Heber has an interest.

The intended new appointees to the Board include internationally recognised executives, as well as highly regarded Zimbabwean Directors. Biographical details of the appointees are contained in the Notice of Meeting.

Mr Paul Turner and Mr Paul Heber, currently Non-Executive Directors of the Company since 2008 and 2007 respectively, are up for re-election to the Board and it is the recommendation of the Board that they be re-elected. Mr Turner is intended to become the Company's Deputy Chairman.

In light of these new developments, the Directors have decided to propose renaming the Company "Cambria Africa Plc" at the AGM. The name is inspired by the Cambrian period in the earth's development, also referred to as the "Cambrian explosion", and represents an anticipated period of rapid development and a promising new era for the Company, its employees and shareholders, as well as for Zimbabwe.

Enquiries

LonZim Plc

   David Lenigas               Executive Chairman                         [phone] 
   Geoffrey White             Chief Executive Officer                    [phone] 
   David Armstrong          Finance Director                               [phone] 

WH Ireland Ltd: Nomad and Broker

James Joyce [phone]

Pelham Bell Pottinger

Charles Goodwin [phone]

Charlie Harrison [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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