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11 Jun 2008 09:00
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11 June 2008
LONRHO PLC ("Lonrho" or the "Company")
'Fly540 Angola' and 'Lonrho Springs Angola' projectsΒ
receive approval from Angolan Government
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African investments, is pleased to announce that it has received the necessary formal approvals from the Angolan Government, AgΓͺncia Nacional para o Investimento Privado (ANIP) to permit its Fly540 airline and Lonrho Springs water bottling projects in Angola to benefit from the tax holiday incentives promoted by ANIP.
This formal approval, the Certidao Registro Investimento Privado ( CRIP ), will facilitate the importation of capital equipment on a duty free basis and the repatriation of capital.
David Lenigas, Executive Chairman of Lonrho Plc commented:
"We are delighted that the ANIP approval process has been completed so professionally in such a quick timeframe.Β Bureaucracy in Africa can be very onerous and seriously delay projects.Β These approvals are a significant step to commencing the operations for both Fly540 and Lonrho Springs within Angola and providing tangible job creation and GDP to the Angolan economy."Β
LONRHO ENQUIRIES
|
LonrhoΒ Plc |
+44Β (0)20Β 7016Β 5105 |
|
DavidΒ Lenigas,Β Executive Chairman |
+44Β (0)7881Β 825Β 378 |
|
Geoffrey White, Chief Executive Officer |
+44 (0)7717 307 308 |
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EmmaΒ de Borchgrave,Β ExecutiveΒ Director |
+44Β (0)7867Β 785Β 177 |
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Pelham PR |
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|
CharlesΒ Vivian |
+44Β (0)Β 20Β 7743Β 6672 |
|
Β |
+44Β (0)Β 7977Β 297903 |
|
James MacFarlane |
+44Β (0)Β 20Β 7743Β 6375 |
|
Β |
+44Β (0)Β 7841 672831 |
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|
Collins Stewart Europe : NOMAD to Lonrho |
Β |
|
Hugh FieldΒ |
+44Β (0)Β 20Β 7523Β 8350 |
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NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company's shares are traded on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services, hotels and natural resources. The Company has over 19,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.Β
Β
Since 2006, the Company has invested in or acquired control of:Β
Hotel Cardoso -Β www.hotelcardoso.co.mzΒ Β (retained)
Lonrho Mining -Β www.lonrhomining.comΒ
Luba Freeport -Β www.lubafreeport.comΒ
Fly540 -Β www.fly540.comΒ
Swissta Holdings -Β www.swissta.comΒ
SA Independent Liner Services -Β www.saliners.comΒ
Bytes and PiecesΒ www.bytespieces.comΒ
Kwikbuild -Β www.e-kwikbuild.co.zaΒ
LonZim -Β www.lonzim.co.ukΒ
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