Zambeef Prod. Share Price (ZAM)

Share Price .4.40...-0.10 (-2.22%) ...Bid: 4.20...Ask: 4.60.....Spread: 0.40 (9.524%)

Market Cap: £13.23m

Spread a little better .

Cavendish ramping it they have 45p target .

https://www.hardide.com/wp-content/uploads/2026/02/Cavendish-Research-Note-26-Feb-2026.pdf

Further North American orders: FY26 EPS upgraded 58%

Hardide has announced further new orders worth £1.8m, awarded by the same North

American energy company following contracts announced on 1 December and 3 February.

The Board now expects a further material improvement in performance versus previous

forecasts, driving a £0.9m increase in EBITDA, resulting in a 58% uplift to our FY26 EPS

forecast. This increases year-end gross cash to £2.8m. With this additional award and the hint

of a possible framework agreement, we have raised our price target from 30p to 45p, which

would place the shares on a P/E of 15x, which we do not consider demanding. We anticipate

a strong reaction to this further award, boosting the positive momentum seen recently and

reinforcing our renewed Buy rating.

Share Price ..4.50...0.10 (2.27%) ...Bid: 4.20...Ask: 4.80...Spread: 0.60 (14.286%)

Market Cap: £13.53m

Spread a little better .

Cavendish

Vote ‘YES’ to the BII MTO waiver We believe that minority investors should vote ‘Yes’ to approve the conversion of the British International Investment (BII) preference shares to ordinary shares without triggering a Mandatory Takeover Offer (MTO). A positive vote will allow Zambeef to pick up its rate of change: it will simplify the capital structure, remove the related uncertainty and allow for further capital raises to accelerate growth in what is a capital-hungry business. The dilution is material, but the share price upside could be more significant with the current share price <10% of NAV. This massive discount should close as Zambeef sheds unproductive assets, improves performance from existing businesses, moves up the value chain to capture a higher percentage of profits and expands distribution to become a regional powerhouse.

That’s what we all hope for! My concern is that they seem to almost act like a community interest company/charity and shareholder concerns are not a focus. The fact that hardly any directors are invested here says a lot. However I remain a holder because it’s still hugely undervalued

Good to see you too DD!! One day the asset value should be reflected in the SP…..

Share Price ..4.20...0.10 (2.44%) ...Bid: 3.70...Ask: 4.70...Spread: 1.00 (27.027%)

Market Cap: £12.62m.

In these since 16/10/15

Break-Even Price GBX 6.4

I see they got up to 5.1p 4th November 2025.

Before falling back to this level .

Cavendish have put out a research note , anyone know anything about Cavendish ?

https://www.cavendish.com/research-portal/#/portal/cavendish/research/129_6ae147fb-be5e-465d-9e26-94a460eac9e1