In terms of paragraph 3.9 of the LuSE Listings Requirements, immediately after an issuer acquires knowledge of any material price sensitive information and the necessary degree of confidentiality of such information cannot be maintained, an issuer must publish a cautionary announcement.

Zambeef, the fully integrated agribusiness with operations in Zambia, Nigeria and Ghana, announces that it is in preliminary 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, which, if successfully concluded, may have a material effect on the price of the Company’s securities.

For the 12 months ended 30 September 2014 Zamanita recorded revenue of ZMW399.2 million (USD67.9 million), a gross profit of ZMW58.3 million (USD9.9 million) and net assets of ZMW137.4 million (USD21.9 million) (audited).

Completion of the Transaction, which is likely to constitute a Category 1 transaction under the section 9 of the LuSE listing rules, 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.

Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.

Issued by:

Sponsoring Broker
Pangaea Securities Limited (Member of the Lusaka Stock Exchange)
(Regulated by the Securities and Exchange Commission)

Tel: +260 (211) 220 707 or 238 709 / 16 Fax +260 (211) 220 925
Email: [email protected]
Farmers House at Central Park, 3rd Floor, Cairo Road, P.O. Box 30163 Lusaka, Zambia

First Issued on 3rd December 2014

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