Zambeef (AIM: ZAM), the fully integrated agri-business with operations in Zambia, Nigeria and Ghana, announces that on 12 June 2015 it granted options (“Options”) under the Zambeef Products PLC 2012 Long Term Incentive Plan to certain executive directors and employees pursuant to the circular to shareholders dated 16 March 2015 and shareholder approvals obtained at the EGM, which took place on 8 April 2015.

The following Options were granted to executive directors of the Company:

The Options vest after three years and must be exercised within two years of vesting. The grant of the Options to the two Joint CEOs is also subject to a 20 per cent. salary reduction. The Options can only be exercised if still employed by the Company, and are subject to a number of performance conditions, including;

1. If the share price reaches 40 pence, 25 per cent. of the Options become exercisable.
2. If the share price reaches 48 pence, a further 25 per cent. of the Options become exercisable.
3. If the share price reaches 56 pence, a further 25 per cent. of the Options become exercisable.
4. If the share price reaches 65 pence, the final 25 per cent. of the Options become exercisable.
5. Zambeef achieving a debt : equity (gearing) ratio of less than 35 per cent. and a current ratio of 1.5 in the audited accounts immediately prior to the exercising of the Options.
6. Zambeef generating free cash.

Options on the same terms over a further 825,000 shares in aggregate have been made to three other senior managers.

A further 6,430,000 Options in aggregate with an exercise price of 15 pence per share and without performance conditions were granted to 283 other employees of the Group. These Options have a three year vesting period and must be exercised within one year of vesting.

For further Information, please contact:

Notes to Editors

Information on Zambeef

The Zambeef Group is one of the largest integrated agri-businesses in Zambia, involved in the primary production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, flour and stock feed, throughout Zambia, as well as Nigeria and Ghana. The Group is also one of the largest cereal row cropping operations in Zambia, with approximately 8,120 hectares of irrigated and approximately 8,480 hectares of rain-fed, arable, developed land available for planting each year.

The Group has approximately 6,200 employees.

Further information can be found on www.zambeefplc.com

This publication is in line with standard practice for London Stock Exchange AIM listed Companies.

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