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UK EXECUTIVE CHANGE SUMMARY: Kakuzi Acts To Prevent Human Rights Abuse

Mon, 02nd Nov 2020 16:54

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Monday and not separately reported by Alliance News:

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Kakuzi PLC - plantation operator in Kenya - Appoints Nicholas Nganga as chair, replacing Graham Mclean, who steps down to non-executive director. Nganga was chair of Kenyan telecommunications operator Safaricom and currently is chair of Car & General Kenya Ltd and G4S Security. Kakuzi also brings in experienced agricultor sector planner John Kimani and establishes an independent human rights advisory committee on the board and a worker grievance mechanism within its operations. The changes are in response to charges of human rights abuses on Kakuzi's plantations. Last month UK supermarket chain Tesco PLC said it had suspended taking avocados from Kakuzi, after it was accused of systemic human rights abuses in a new lawsuit. Britain's biggest grocer announced the move after law firm Leigh Day said it had initiated legal action against Kakuzi shareholder Camellia PLC, which noted Monday's announcement. The lawsuit, filed on behalf of 79 Kenyans at London's High Court, accused Kakuzi of employing security guards alleged to have perpetrated horrific abuses since 2009. They included killings, rape, attacks and false imprisonment.

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Barratt Developments PLC - Leicestershire-based housebuilder - Hires Katie Bickerstaffe and Chris Weston as independent non-executive directors, starting March 1, 2021. Bickerstaffe is chief strategy & transformation director at retailer Marks & Spencer Group PLC. She also was executive chair of SSE Energy Services, leading its separation from SSE PLC and sale to Ovo Group Ltd. Weston is chief executive officer of temporary power provider Aggreko PLC. Previously, he was managing director of International Downstream at British Gas-owner Centrica PLC.

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Schroder European Real Estate Investment Trust PLC - Hires Elizabeth Edwards as independent non-executive director, effective immediately. Edwards is a chartered surveyor and a non-executive director of FTSE 250-listed commercial property investor CLS Holdings PLC.

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ADM Energy PLC - natural resources investing with assets in Nigeria - Hires Lionel Therond as chief financial officer in a non-board role, effective immediately. Therond was a managing director at Standard Bank, leading oil & gas equity and commodity research. He also worked at Royal Dutch Shell PLC in The Hague.

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Immedia Group PLC - Newbury, Berkshire-based audiovisual and digital communications - Promotes John Trevorrow to finance director and company secretary from financial controller.

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Alpha FX Group PLC - London-based currency risk management and payment services provider - Matt Knowles steps down as independent non-executive director to spend more time as strategic advisor to Alpha FX.

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Stobart Group Ltd - aviation and energy infrastructure group - Promotes David Blackwood to senior independent director, effective immediately. Blackwood also is non-executive chair of newspaper and magazine distributor Connect Group PLC. He joined the Stobart board in March 2019. Stobart had said back in June it would recruit two additional non-executive directors. Having appointed Clive Condie from July 1, Stobart on Monday says it is pausing the recruitment of the second additional director, due to the development of the Covid-19 pandemic in the past few months.

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Weir Group PLC - Glasgow-based mining technology - Appoints mining veterans Srinivasan Venkatakrishnan and Ben Magara to board as non-executive directors, effective from January 19, 2021. Venkatakrishnan is a former CEO of both Vedanta Resources PLC and AngloGold Ashanti Ltd. Magara was CEO of Lonmin PLC and also held senior roles at Anglo American PLC.

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TomCo Energy PLC - unconventional hydrocarbon development in US - Promotes Malcolm Groat to non-executive chair, replacing Stephen West, who has left the board immediately, together with Alexander Benger. Replacing the pair on the board are Robert Kirchner and Richard Horsman. Kirchner is CEO of Africa-focused explorer Cornerstone Energy Africa Ltd and managing director of energy sector-focused consulting and financial advisory firm BCI International. Horsman is non-executive chair of AIM-listed telecoms outfit Toople PLC.

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Bowleven PLC - oil & gas company operating in Cameroon - Hires Jack Arnoff as non-executive director, effective immediately. Arnoff is co-founder & partner at Elbrus Capital Partners LLP and portfolio manager for ECP Emerging Europe Value Fund.

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Pensana Rare Earths PLC - magnet metal rare earths development in Angola - Hires Lindsay Northover as non-executive director, effective immediately. Northover recently was the UK's trade envoy to Angola and Zambia and previously to that was Africa Minister for the UK Department for International Development.

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Syncona Ltd - life sciences investor - Ellen Strahlman retires as non-executive director from Monday, having been with Syncona since 2013.

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By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
21 Aug 2024 14:28

IN BRIEF: Kakuzi interim profit jumps, boosted by avocado market

Kakuzi PLC - Nairobi-based plantation operator - Announces pretax profit jumps to KES507.1 million, about GBP3.0 million, in the first half of 2024, from KES171.1 million a year prior. Sales surge 35% to KES1.18 billion from KES873.2 million. Chair Nicholas Nganga notes the company was positively impacted by a buoyant international avocado market, mostly due to a reduced global supply. However, while the demand for macadamia nuts has returned to pre-Covid levels, prices have remained below pre-pandemic levels despite recovering some ground. He adds: "Our commitment to promoting responsibly grown Kenyan superfoods in both traditional and emerging markets is unwavering. Quality, traceability, and sustainability are our key drivers, and we are encouraged to see a growing customer base appreciating our value-added produce range of edible oil, fresh meats, roasted and coated macadamia nuts."

Read more
7 May 2024 15:47

UK shareholder meetings calendar - next 7 days

Wednesday 8 May 
Airea PLCAGM
Antofagasta PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
Deltex Medical Group PLCAGM
Direct Line Insurance Group PLCAGM
Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
Pershing Square Holdings LtdAGM
Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
Ascential PLCAGM
BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
CAB Payments Holdings PLCAGM
Catenai PLCGM re convertible loan note
Clarkson PLCAGM
FBD Holdings PLCAGM
Genel Energy plcAGM
Gym Group PLCAGM
Harbour Energy PLCAGM
Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
Jupiter Fund Management PLCAGM
Logistics Development Group PLCAGM
Man Group PLCAGM
Morgan Advanced Materials PLCAGM
OSB Group PLCAGM
Public Policy Holding Co IncAGM
Rathbones Group PLCAGM
RM PLCAGM
Spire Healthcare Group PLCAGM
Synthomer PLCAGM
Uniphar PLCAGM
Friday 10 May 
Cairn Homes PLCAGM
Derwent London PLCAGM
Diversified Energy Co PLCAGM
Hutchmed China LtdAGM
Irish Residential Properties REIT PLCAGM
Kenmare Resources PLCAGM
Rightmove PLCAGM
Serinus Energy PLCAGM
Standard Chartered PLCAGM
Wheaton Precious Metals CorpAGM
Monday 13 May 
88 Energy LtdAGM
888 Holdings PLCAGM
hVIVO PLCAGM
Kore Potash PLCAGM
Tuesday 14 May 
Aptitude Software Group PLCAGM
Chesnara PLCAGM
Cirata PLCAGM
Computacenter PLCAGM
EKF Diagnostics Holdings PLCAGM
FDM Group PLCAGM
Henderson High Income Trust PLCAGM
Kakuzi LtdAGM
Luceco PLCAGM
Midwich Group PLCAGM
Phoenix Group Holdings PLCAGM
TI Fluid Systems PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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6 Dec 2023 12:01

IN BRIEF: Kakuzi expects full-year earnings drop on Macadamia decline

Kakuzi PLC - Nairobi-based plantation operator - Says full-year net earnings may be at least 25% lower year-on-year from KSHS845.8 million, or GBP1.7 million, driven by loss in its Macadamia business due to a"significant decline" in demand and price in China, Japan and the US. However, Kakuzi says other crops are performing as expected and anticipates a strong performance from its Avocado business.

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25 Aug 2023 12:34

IN BRIEF: Kakuzi profit hurt by macadamia glut; avocado market blooms

Kakuzi PLC - Nairobi-based plantation operator - Says in the six months to June 30, pretax fell by 66% to KSHS117.5 million, or GBP642,203, from KSHS341.3 million a year prior, while revenue plummeted to KSHS873.2 million from KSHS1.03 billion the year before. Adds earnings per share dropped 66% to KSHS5.99 from KSHS17.41 a year ago. Notes challenging macadamia markets due to a surplus, but says avocado profits more than doubled to KSHS654.8 million from KSHS288.8 million the year before.

Read more
9 May 2023 15:45

UK shareholder meetings calendar - next 7 days

Wednesday 10 May 
abrdn PLCAGM
Antofagasta PLCAGM
Cenkos Securities PLCAGM
Ecora Resources PLCAGM
H&T Group PLCAGM
Harbour Energy PLCAGM
Jupiter Fund Management PLCAGM
Literacy Capital PLCAGM
Luceco PLCAGM
Marshalls PLCAGM
National Express Group PLCAGM
Renewables Infrastructure Group LtdAGM
Rentokil Initial PLCAGM
Seplat Energy PLCAGM
Spirax-Sarco Engineering PLCAGM
TClarke PLCAGM
Thursday 11 May 
88 Energy LtdAGM
Cairn Homes PLCAGM
Capita PLCAGM
Clarkson PLCAGM
Costain Group PLCAGM
Eleco PLCAGM
Eurocell PLCAGM
FBD Holdings PLCAGM
Genedrive PLCGM re equity prepayment facility
Genel Energy PLCAGM
Gresham House PLCAGM
Gym Group PLCAGM
Hiscox LtdAGM
Irish Continental Group PLCAGM
John Wood Group PLCAGM
MyHealthChecked PLCAGM
OSB Group PLCAGM
Poolbeg Pharma PLCAGM
Rolls-Royce Holdings PLCAGM
Serinus Energy PLCAGM
Uniphar PLCAGM
Videndum PLCAGM
WAG Payment Solutions PLCAGM
Friday 12 May 
Balfour Beatty PLCAGM
Derwent London PLCAGM
Goodbody Health LtdAGM
GreenRoc Mining PLCAGM
Hutchmed (China) LtdAGM
Itim Group PLCAGM
Itsarm PLCGM re delisting from AIM
Wheaton Precious Metals CorpAGM
Monday 15 May 
GCP Asset Backed Income Fund LtdAGM
Tuesday 16 May 
accesso Technology Group PLCAGM
Chesnara PLCAGM
Dialight PLCAGM
Equals Group PLCAGM
Essentra PLCAGM
FDM Group Holdings PLCAGM
iEnergizer LtdGM re proposed cancellation of admission to trading on AIM
IQGeo Group PLCAGM
Kakuzi PLCAGM
PYX Resources LtdAGM
Synthomer PLCAGM
TI Fluid Systems PLCAGM
Vector Capital PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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22 Mar 2023 14:53

EARNINGS SUMMARY: Genel narrows loss; NAHL led by Personal Injury arm

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
23 Mar 2022 18:07

EARNINGS UPDATES: Surgical Innovations and KRM22 narrow loss in 2021

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
6 Jan 2022 16:18

Kakuzi earnings drop due to low avocado yields and low EU prices

Kakuzi earnings drop due to low avocado yields and low EU prices

Read more
18 Aug 2021 15:28

IN BRIEF: Kakuzi interim profit rises despite sales dip, dim outlook

IN BRIEF: Kakuzi interim profit rises despite sales dip, dim outlook

Read more
19 Mar 2021 15:22

IN BRIEF: Kakuzi ups payout despite hurt profit on legal proceedings

IN BRIEF: Kakuzi ups payout despite hurt profit on legal proceedings

Read more
19 Aug 2020 10:29

Kakuzi First Half Hit By Tea Glut And Avocado Market Lockdown Hurt

Kakuzi First Half Hit By Tea Glut And Avocado Market Lockdown Hurt

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19 Feb 2020 12:40

Kakuzi Non-Executive Director Kenneth Tarplee Dies

Kakuzi Non-Executive Director Kenneth Tarplee Dies

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15 Aug 2019 11:05

Camellia Ups Interim Dividend Despite Tea Price Fall Hurting Trading

(Alliance News) - Agriculture firm Camellia PLC on Thursday raised its dividend despite interim revenue declining amid a fall in tea prices.In the six months to June 30, pretax profit fell

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29 Mar 2019 10:58

Kakuzi Annual Profit Drops On Lower Avocado Prices, Oversupply

LONDON (Alliance News) - Kenyan plantation owner Kakuzi Ltd on Friday reported a drop in profit for 2018 due to lower avocado prices.For the year, Kakuzi posted a pretax profit of KES684.1

Read more
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