Board Changes

RNS Number : 1497P

Zambeef Products PLC

05 February 2019

 

                                                                                                                                                        5 February 2019

Zambeef Products plc

("Zambeef" or the "Group")

Board Changes

Zambeef (AIM: ZAM), the fully integrated food producer with operations in Zambia, Nigeria and Ghana, announces the resignation of Yusuf Koya as an Executive Director/Board Member of Zambeef Products PLC and all Group Companies, effective from 4 February 2019.

Yusuf joined Zambeef as Group General Manager in May 2005. In June 2006, he was appointed a Board Director/Member of Zambeef. 

The Board has greatly appreciated the experience and support he has contributed to the growth and development of the Company. In addition to overseeing the stock exchange listing in London, he was instrumental in successfully implementing a significant number of corporate actions/transactions as well as successfully raising debt finance of over USD100 million over the last 14 years, resulting in the Company becoming one of the largest agri-businesses in Zambia and the surrounding region.

Yusuf will continue to remain a senior employee/manager in the Company.

We are also pleased to announce our intention, subject to the completion of various regulatory processes, to appoint Walter Roodt to the Board of Zambeef.

Walter is currently employed as Deputy Managing Director and he is designated as the future CEO once the incumbent (Francis Grogan) retires at the end of the year

Zambeef Chairman, Dr Jacob Mwanza, commented:

"Yusuf Koya has been a valued colleague for many years. I would like to thank him for the tremendous contribution that he has made to Zambeef since he joined the Company almost 14 years ago. Yusuf has played and continues to play a valuable role in supporting the growth of Zambeef through his vast knowledge and experience of banking and corporate finance."

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

Zambeef Products plc Francis Grogan, Chief Executive Officer	Tel:  [phone]
Strand Hanson Limited       James Spinney Ritchie Balmer	Tel: [phone]
Finncap Christopher Raggett Emily Morris	Tel: [phone]
Powerscourt Nick Dibden Jana Tsiligiannis	Tel: [phone]
Pangaea Securities Wendy Tembo	Tel: [phone]

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