Chiawa Farm Estate

Zambeef Products PLC

15 August 2024

 

Zambeef Products plc

("Zambeef" or the "Group")

Chiawa Farm Estate

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana notes the recent media commentary in Zambia, which has included reporting of a confirmation by the government that the state-owned Industrial Development Corporation (IDC) Limited is considering a purchase and is currently undertaking due diligence. Zambeef wishes to advise its shareholders that a sale has not taken place with respect to its Chiawa Farm. In the event that a successful offer for the farm is received, Zambeef will follow due process in terms of notifying the market and obtaining any relevant shareholder approvals as applicable.

For further information, please visit www.zambeefplc.com or contact:

Zambeef Products plc	Tel: [phone]
Faith Mukutu, Chief Executive Officer Patrick Kalifungwa, Chief Financial Officer
Autus Securities Limited (Sponsoring Broker) Mataka Nkhoma (Sponsoring Broker)	Tel: [phone]
Cavendish Capital Markets Ltd (Nominated Adviser and Broker)
Ed Frisby/Abigail Kelly (Corporate Finance)	Tel: [phone]
Tim Redfern (ECM)

Notes to Editors

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 25.4 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 7,265 hectares of row crops under irrigation, which are planted twice a year, and a further 8,000 hectares of rainfed/dry-land crops available for planting each year.

 

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