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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