Last checked at 5 Jan 2015 07:00
5th January 2015
Zambeef Products plc
("Zambeef" or the "Group")
Potential Zamanita Transaction Update
Zambeef (AIM: ZAM), the fully integrated agribusiness with operations in Zambia, Nigeria and Ghana, announces that it remains in discussions with a third party regarding the potential full disposal of Zamanita Limited (the "Transaction"), the Group's wholly owned subsidiary and one of the largest edible oil and soya meal producers in Zambia.
This announcement is being made following the 'Cautionary Update' announcement made earlier today by the Company on the Lusaka Stock Exchange, which was required under the rules and regulations of that exchange, and follows on from the initial RNS announcement made by the Company regarding the Transaction on 3 December 2014.
Completion of the Transaction, which is likely to constitute a substantial transaction under the AIM Rules for Companies, remains subject to, inter alia, due diligence and certain conditions precedent and there can be no certainty that any binding offer for Zamanita will ultimately be made, nor as to the final terms of any such offer should one be forthcoming.
For further information, please contact:
Zambeef Products plc Tel: +260 (0) 211 369003
Francis Grogan, Joint CEO
Carl Irwin, Joint CEO
Strand Hanson Limited Tel: +44 (0) 20 7409 3494
Angela Hallett
James Spinney
Ritchie Balmer
Panmure Gordon Tel: +44 (0) 113 357 1150
Hugh Morgan
Peter Steel
Buchanan Tel: +44 (0) 20 7466 5000
Mark Edwards
Sophie McNulty