RNS Number : 4194Q

Zambeef Products PLC

26 February 2021

25 February 2021

Zambeef Products plc

("Zambeef" or the "Group")

Board Changes

Zambeef Products Plc ("Zambeef" or "the Company") (AIM: ZAM) announces that Mr David Osborne will be stepping down as a director of the Company, effective 28 February, 2021, as a result of his retirement from CDC Group PLC ("CDC") at the end of this month.

Mr. Osborne has served on the Zambeef Board since CDC's investment into the Company, as approved by Shareholders in September 2016, and has made immeasurable contributions to the Company in his time. CDC intends to appoint a replacement for Mr . Osborne to the Zambeef Board shortly. Further updates will be made as and when appropriate.

On behalf of the Board, the Chairman wishes David well in his retirement and thanks him for his long-standing contribution to the Company.

By Order of the Board

Mwansa M Mutimushi


 For further information, please visit www.zambeefplc.com or 
 Zambeef Products plc                           Tel: +260 (0) 211 
 Walter Roodt, Chief Executive Officer 
  Faith Mukutu, Chief Financial Officer 
 Strand Hanson Limited (Nominated & Financial   Tel: +44 (0) 20 7409 
  Adviser)                                       3494 
 James Spinney 
 Ritchie Balmer 
 Rob Patrick 
 FinnCap (Broker)                               Tel: +44 (0) 20 7220 
 Chris Raggett 
 Powerscourt (Financial PR)                     Tel: +44 (0)20 7250 
 Nick Dibden 
 Bethany Johannsen 

About Zambeef Products PLC

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, eggs, dairy products, fish, flour and stockfeed, throughout Zambia and the surrounding region, as well as Nigeria and Ghana.

It has 228 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 located throughout Zambia, with a capacity to slaughter 230,000 cattle a year. It is also one of the largest chicken and egg producers in Zambia, with a capacity of 8.8m broilers and 22.4 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 7,973 hectares of row crops under irrigation, which are planted twice a year, and a further 8,776 hectares of rainfed/dry-land crops available for planting each year.

Zambeef employs over 7,400 people with a total wage bill of K38 million per month.

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(END) Dow Jones Newswires

February 26, 2021 02:00 ET (07:00 GMT)