n the operational update announced on 19 July 2013, Zambeef highlighted two issues which would negatively impact the Group in the second half of the financial year. These were allegations relating to the contamination of imported beef products and lower than forecast global wheat prices. In July, the effect of these issues could only be estimated and it is disappointing to have to announce that, together with some additional cost pressures, the financial impact on the Group is significantly worse than originally anticipated.
31 Jul '13
25 Jul '13
x 2 big uns....
23 Jul '13
19 Jul '13
Laureate: wait and see
Zambeef, the fully integrated agri-business with operations in Zambia, Nigeria and Ghana, updates the market on two current operational issues. Food security Zambeef notes reports in some Zambian newspapers that certain of its imported beef products ("Imported Beef Products") contained aromatic aldehydes or formaldehyde. Whilst aromatic aldehydes and formaldehyde are found naturally in most food products, excessive levels can be harmful to humans. Accordingly, on learning of these reports, the board of directors of Zambeef (the "Board"), in conjunction with the Ministry of Health, immediately removed all Imported Beef Products from Zambeef's retail outlets as a precautionary measure and no Imported Beef Products are now being offered for sale by the Company. In addition, the Company has cooperated fully with the Ministry of Health and other regulatory authorities to bring a swift conclusion to this matter
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