24 Apr 2013 13:10
For immediate release 24 April 2013
3D Resources Plc
(to be re-named AfriAg plc)
("3DR" or the "Company")
Result of Extraordinary General Meeting
Adoption of New Investing Policy
Board appointment
Change of Name
The Board of 3DR is pleased to announce that all resolutions proposed at its extraordinary general meeting, held earlier today, have been duly passed. Accordingly the Company has today adopted a new investing policy, details of which were set out in a circular sent to shareholders on 27 March 2013 and will be available shortly on the Company's website (www.3dresources.co.uk).
The Company has also today appointed David Lenigas as Executive Chairman of the Company. David served as Executive Chairman of London listed Lonrho plc from 2006 to September 2012 and was in charge of Lonrho plc's expansion into over 20 countries in Africa. He has extensive experience operating in the public company environment across the UK, African, Canadian and Australian markets. He also serves as a director or chairman of a number of other publicly listed companies including Fastjet plc, Solo Oil plc and Leni Gas & Oil plc.
Concurrent with the appointment of David Lenigas, Donald Strang's board role has been re-positioned from Non-Executive Chairman to Executive Director with effect from today. Donald has assumed responsibility for the finance function of the Company.
As announced by the Company on 26 March 2013 the board of 3DR also intend to change the Company's name to AfriAg plc following the adoption of the new investing policy. The Company's proposed new name reflects the Company's new investing policy and its focus on investments in businesses involved in agriculture generally in Europe, Africa and the Middle East. The Company has today applied to the Registrar of Companies in the Isle of Man to change its name to AfriAg plc. The change of name certificate is expected to be received shortly from the Registrar of Companies in the Isle of Man. A further announcement will be made by the Company with regards to the timing for the Company's change of name and the change of the Company's ticker from "3DR" to "AFRI". The ISIN and SEDOL numbers of the Company will not change.
Information on the appointment of David Lenigas in accordance with Schedule 2(g) and rule 17 of the AIM Rules for Companies is contained in the Appendix below.
Mr Donald Strang, Executive Director of 3DR, commented:
"We are pleased to welcome David onto the board in the Executive Chairman role. His extensive experience in both the public markets and the agricultural supply, processing and logistic sectors will be a valuable addition over the coming months."
For further information please contact:
3D Resources Plc |
|
Donald Strang Oliver Cooke | +44 (0) 20 7440 0640
|
Allenby Capital Limited (Nominated Adviser and Broker) |
|
Nick Naylor Nick Athanas | +44 (0) 20 3328 5656 |
Square 1 Consulting (Financial PR) |
|
David Bick | +44 (0) 20 7929 5599 |
Appendix - Information required under the AIM Rules for Companies
As at the date of this announcement David Anthony Lenigas, aged 51, holds 100,000,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") representing 12.18% of the current issued share capital of the Company.
David holds 40,000,000 warrants which entitle him to subscribe for 40,000,000 new Ordinary Shares in the Company at a price of 0.1 pence per ordinary share, exercisable at any time up to 31 December 2015.
David also holds share options over a total of 13,000,000 Ordinary Shares in the Company at an exercise price of 0.1 pence per Ordinary Share. The options vested on the date of grant, 10 December 2012, and will expire on 31 December 2020.
Save as disclosed below there are no further disclosures to be made pursuant to Schedule 2(g) and Rule 17 of the AIM Rules for Companies.
Current directorships
Rare Earth Minerals Plc (formerly Zest Group plc)
Leni Gas & Oil Plc
Lonrho Air (BVI) Limited
Five Forty Aviation Limited
Lonrho Aviation (BVI) Limited
Lonrho Air (2) (BVI) Limited
Five Forty Africa (BVI) Limited
Lonrho Air Africa (BVI) Limited
Solo Oil plc (formerly Immersion Technologies International plc)
Active Resources Realisation Fund (BVI)
Lonrho Air Three (BVI) Limited
Rare Earth Resources Limited
Solo Oil International Limited
Central African Investments plc
Solo Oil (Argentina) Limited
Fastjet Plc
RET Services Limited
Stellar Resources plc (formerly CSS Stellar plc)
Polemos plc
Past directorships held within the last five years
Certain of the directorships below are positions held as a result of David Lenigas's role as a board director of Lonrho plc (from which he resigned in September 2012) and in respect of which Mr Lenigas has resigned and in some instances is awaiting formal confirmation from the local Companies House equivalent.
Lonrho Mining Limited
Lonrho Management Limited
Reef Resources Ltd
Hot Tuna International plc
Asia Energy Corporation Pty Ltd
GCM Resources Plc
Asia Energy Corporation (Bangladesh) Pty Ltd
Deepgreen West Virginia Inc
BDI Mining Corp (formerly BM Diamondcorp Inc)
Our Forgotten Children Limited
Vatukoula Gold Mines Ltd (formerly River Diamonds plc)
Jubilee Mining Ltd
Koula Mining Ltd
Lonrho Jersey Limited
Byron Energy Pty Ltd
Templar Minerals Limited
Lonrho Springs Limited
Zimbabwean Investments Limited
Zest Entertainments Limited
Zest Songs Limited
Zest Music Limited
670 plc
Reggae Tunes Limited
River Diamonds UK 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 Australia Pty Ltd)
Complete Enterprise Solutions (Pty) Limited
Aldeamento Turistico de Macuti, SARL
Lonrho Auto Distributors Limited
Textile Investment Company Limited
Blueberry International Services Limited
Wardlaw (1989) Limited
Le Har (Pvt) Limited
Rex Mining (Pvt) Limited
Peak Mines (Pvt) Limited
Gardoserve (Pvt) Limited
Celsys Limited
LonZim plc
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
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
Afriag Limited
Swissta Holdings Limited
Lonrho Plc
Lonrho Africa (Holdings) Limited
Strenner Holdings Limited
Lonrho Ports Limited
Oceanfresh Seafoods (UK) Limited
Lonrho Resources Ltd
Lonrho Finance Ltd
Lontel Ltd
Lonrho Water Limited
Fresh Direct Limited
Lonrho Oil (Malawi) Limited
Lonrho Infrastructure (BVI) Limited
Lonrho Hotels Congo (BVI) Limited
Indit Technology Distribution (Pty) Limited
Lonrho Hotels Management Services (BVI) Limited
Lonrho Agriculture Angola Limited
Rollex (Pvt) Limited
Rollex (Pty) Limited
e-Kwikbuild SA (Pty) Limited
Lonrho Management Services Limited
Lonrho Zimbabwe Management Services (Pvt) Limited
Lonrho Africa Management Services (Zimbabwe) Ltd
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
Lonrho Springs BV
Lonrho Agribusiness Limited
Laytons Offshore Limited
Lonrho Equipment Limited
Mozambique Machines Limited
Crop Harvest Limited
Oceanfresh Seafoods (Pty) Limited
Cultivate Harvest Limited
LAH Jersey Limited
Protea Seafoods
Hotel Accommodation Limited
Afex Holdings Limited
Lonrho Water Limited
Africa Expeditions Limited
Africa Expeditions TZ Limited
Africa Expeditions Uganda Limited
Best In Tents Limited
Global Horizons Limited
Lonrho Hotels Limited
LAH Mozambique Hotels Limited
DRC Hotels Limited
Lonrho Ports & Infrastructure Limited
Lonrho Infrastructure Limited
Lonrho Ports Limited
LAH Jersey 2 Limited
Fish On Line (Pty) Limited
Lonrho Support Services Limited
Lonrho Integrated Support Services Limited
Lonrho Hotels (Holdings) Limited
Lonrho Budget Hotels Limited
Lonrho IT Limited
LAH Jersey 3 Limited
Lonrho Transport Limited
Lonrho Logistics (Pty) Limited
Luba Freeport Limited
Lonrho South Africa (Pty) Limited
Lonrho Management South Africa (Pty) Limited
Lonrho Projects South Africa (Pty) Limited
Lonrho Projects Consulting (Pty) Limited
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
Tanzania Harvest Limited
Tanzania Machines Limited
Lonrho Ports Ghana Limited
Lonrho Ghana Ports Limited
LonAgro (SS) Limited
Benson Global Trading Limited
Lon Agro Tanzania Limited
Yuagong (Pty) Limited
Lonrho Hotels Nigeria Limited
Lonrho Hotels DRC Limited
Lonrho Hotels SA Limited
Lonrho Hotels Ghana Limited
Lonrho Hotels Kenya Limited
Lanitrim (Pty) Limited
Caropix (Pty) Limited
Concha plc (formerly Hot Tuna (International) plc)
Lonrho Investments Limited
Lonrho Holdings Limited
David Lenigas was a director of SA Independent Liner Services Pty Ltd ("SAILS") when it was placed into liquidation on 15 October 2008. SAILS was a subsidiary within the Lonrho plc group of companies ("Lonrho Group") and was placed into liquidation by a unanimous board resolution of SAILS, the Lonrho Group currently being the major creditor. David Lenigas is awaiting confirmation from the liquidator that the liquidation process has been completed.
David Lenigas was a director of Norse Air Limited which was placed into liquidation on 20 December 2010- at the point of liquidation it was a wholly owned subsidiary within Lonrho Group and was placed into liquidation by a unanimous board resolution of Norse Air Limited, with this business being shown as a discontinued activity in the historic financial statements of Lonrho Group.