Zambeef comment on the share increase and ownership by British International Investment
ZAMBEEF PRODUCTS PLC STATEMENT ON BRITISH INTERNATIONAL INVESTMENTS (BII) – CONVERTIBLE REDEEMABLE PREFERENCE SHARES
18 September 2024: Lusaka, Zambia:
Zambeef Products PLC (Zambeef) is aware of some traditional media commentary and social media comments indicating that British International Investments (BII) has allegedly taken over Zambeef’s ownership.
The Zambeef Products PLC, Board of Directors (“the Board”), wishes to remind its shareholders and interested parties that in 2016, the British Investment International (BI), formerly the Commonwealth Development Corporation Group PLC (CDC), acquired 52.6 million ordinary shares and 100,057,658 convertible redeemable preference shares (“Preference Shares”) in Zambeef Products PLC. The details of this transaction, have already been outlined in the company’s public announcement on 4 August 2016, as well as in the Investment Agreement which can be found on the company’s website.
This week, on Monday, September 16th, 2024, was the eighth anniversary of BIl’s investment in the Company.
Following this date, Bl’s conversion rights on their preference shares have increased materially from the current one-for-one new ordinary share to one for 3.0833 (recurring) new ordinary shares.
For clarity, the 100,057,658 convertible redeemable preference shares have not been converted, and as of today, the shareholding remains largely unchanged.
Zambeef, as part of its fiduciary processes, will inform the market and all stakeholders via the correct market channels, if the status changes.
As a Public Limited Company (PLC), Zambeef publishes all its key business information on the Securities Market in Lusaka, Zambia, and London, United Kingdom. Zambeef, therefore, encourages all stakeholders to refer to information and facts that have already been published in the public
The conman must be preparing a ready market for his cows.
He will sell most of his beloved cows by 2026. He knows his time to nearly up.
Vote wisely in 2026.
You are such a repulsive idiot!!!
Zambeef is a now a diversified vertically-integrated business. It is not just about beef cattle and butcheries but also footwear, processed foods, milk and milk products, flour, bread, stock feed, yogurt which it retails through its own outlets and also various supermarkets. It’s now a key economic player in Zambia. Any Zambian who knows what patriotism is should be proud of this company because it’s doing so many things for all our tomorrows. It’s now paying more taxes to the national treasury than Zambian Breweries.