Business
Group Restructuring
Group Restructuring.
About this update from Zambeef Products Plc
[{"type":"text","content":"\n\nZambeef Products plc\n \n(\"Zambeef\", the \"Group\", the \"Company\" or \"ZPPLC\")\n \nGroup Restructuring\n \nZambeef (AIM: ZAM), the fully integrated cold chain foods and retail business, is an indigenous Zambian company, publicly listed on the Lusaka Securities Exchange (\"LuSE\") and admitted to trading on the AIM Market of the London Stock Exchange (\"LSE\").\n \nZambeef Products Plc (\"ZPPLC\") is the parent company of its 100% owned Zambian subsidiaries, Zam Chick Limited (\"ZCL\"), Zamhatch Limited (\"ZHL\"), Master Pork Limited (\"MPL\"), Zamleather Limited (\"ZLL\") and Zambeef Retailing Limited (\"ZRL\"). Together the Group of Companies is an integrated cold chain food products and agribusiness involved in the primary production, processing, distribution and retailing of beef, chicken, pork, dairy products, fish, flour and stock feed throughout Zambia, as well as the surrounding region and Nigeria and Ghana.\n \nThe Board has approved a group restructuring (the \"Group Restructuring\") aimed at rationalising the Group's operations across its six Zambian entities. The Company is expected to benefit from the restructuring as it will eliminate unnecessary complexities and duplications of its business processes across the six different entities, which ultimately have the same key decision-makers, processes, ownership and senior executive team.\n \nThe Board has approved the Group restructuring presented below:\n\n \nThe Group Restructuring is expected to take at least six months to complete. Thereafter, ZRL and MPL are expected to become dormant subsidiaries of the Company.\n \nThere is no change proposed to the Company's overseas incorporated subsidiaries, Master Meats (Nigeria) Ltd, and Master Meats (Ghana) Ltd.\nThe Company also announces that its Nominated Adviser and Broker, finnCap Ltd, has now changed its name to Cavendish Capital Markets Ltd following the completion of its own corporate merger.\n \nFor further information, please contact:\n\n\n\nZambeef Products plc\n\n\nTel: +260 (0) 211 369003\n\n\n\n\nFaith Mukutu, Chief Executive Officer\n\n\n\n\n\n\n\nMboo Mumba, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCavendish Capital Markets Ltd (Nominated Adviser and Broker)\n\n\nTel: +44 (0) 20 7220 0500\n\n\n\n\nEd Frisby/Abigail Kelly (Corporate Finance)\...