AfriAg PLC ("AfriAg" or the "Company")

Board Changes and Operations Update

30 June 2016

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 24thJune (nearly 6 months) shows significant revenue growth to ZAR 29.7 million (approximately £1.47 million), with month to date revenues to 24thJune 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)

+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

AfriAg Global plc published this content on 30 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2016 14:19:08 UTC.

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