Last checked at 1 Dec 2022 12:00
Zambeef Products plc
("Zambeef", the "Company" or the "Group")
Directorate Change
Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, wishes to announce the resignation of Mr Walter Roodt as Executive Director of the Board, effective 1 December 2022. He will continue as an employee of the Group in his role as Strategic Projects and Large Livestock Director.
Mr. Roodt served as an Executive Director on the Board for the past three years since 1 March 2019.
The Board wishes to thank Mr. Roodt for his contribution to the Board and over the past years and wishes him continued success as he continues to serve the Company as an employee.
Further, on 22 November, 2022 the Company announced the appointment of Mr. M'boo Mumba as Chief Financial Officer (CFO), effective 1 December 2022. The Company advised that it is also intended that M'boo will become a Director of Zambeef and joining the Board subject to the satisfactory completion of the required AIM regulatory due diligence. The Board now wishes to announce his appointment as a member of the Directors of the Board with immediate effect.
Chairman, Mr. Michael Mundashi SC. said "We are pleased at the addition of M'boo to the Board. He not only brings his strong leadership skills, business agility, and dynamism to the role he assumes as CFO and Director, but also strategic expertise from his more than 16 years of combined industry, financial, and banking experience roles including Corporate Banking at Standard Chartered Bank Zambia Plc and as CFO for Community Markets for Conservation (the commercial business for the Wild Life Conservation Society in Zambia.)"
M'boo holds a Bachelor of Accounting degree from the Copperbelt University and is an ACCA professional.
For further information, please visit www.zambeefplc.com or contact:
Zambeef Products plc | Tel: +260 (0) 211 369003 |
Faith Mukutu , Chief Executive Officer | |
M'boo Mumba, Chief Financial Officer | |
finnCap Ltd (Nominated Adviser and Broker) | Tel: +44 (0) 20 7220 0500 |
Ed Frisby/Abigail Kelly (Corporate Finance) | |
Tim Redfern/Barney Hayward (ECM) | |
Autus Securities Limited |
Tel: +260 (0) 761 002 002 |
Mataka Nkhoma |
INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")
Full name: | M'boo (John) Mumba |
Age: | 43 |
Current directorships and partnerships: | Zam Chick Ltd Zamhatch Ltd St. Ignatius College |
Historic directorships and partnerships in previous 5 years: | Standard Chartered Bank Zambia Staff Pension Fund |
There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.
By Order of the Board
Mwansa M Mutimushi
COMPANY SECRETARY
About Zambeef Products plc
Zambeef Products plc is the largest integrated cold chain food products and agribusiness company in Zambia and one of the largest in the region, involved in the primary production, processing, distribution and retailing of beef, chicken, pork, milk, dairy products, fish, flour and stockfeed, throughout Zambia and the surrounding region, as well as Nigeria and Ghana.
It has 236 retail outlets throughout Zambia and West Africa.
The Company is one of the largest suppliers of beef in Zambia. Five beef abattoirs and three feedlots are located throughout Zambia, with a capacity to slaughter 230,000 cattle a year. It is also one of the largest chicken producers in Zambia, with a capacity of 8.8m broilers and 22.4 million-day-old chicks a year. It is one of the largest piggeries, pig abattoirs and pork processing plants in Zambia, with a capacity to slaughter 75,000 pigs a year, while its dairy has a capacity of 120,000 litres per day.
The Group is also one of the largest cereal row cropping operations in Zambia, with approximately 7,787 hectares of row crops under irrigation, which are planted twice a year, and a further 8,694 hectares of rainfed/dry-land crops available for planting each year.