TIDMAFRI
RNS Number : 7395B
AfriAg PLC
09 October 2015
9 October 2015
AfriAg plc
("AfriAg" or the "Company")
Admission of ordinary shares to the ISDX Growth Market
The Company announces that, with effect from 8:00 a.m. today,
the Company's ordinary shares will commence trading on the ISDX
Growth Market under the ticker AFRI.
The Company's ordinary shares continue to be traded on AIM.
For further information please visit www.afriag.com or contact
the following:
David Lenigas / +44 (0) 20
Donald Strang AfriAg plc 7440 0640
James Caithie / Cairn Financial Advisers +44 (0) 20
Jo Turner LLP 7148 7900
+44 (0) 20
David Bick Square1 Consulting 7929 5599
Company Information
AfriAg is an investment company which is admitted to trading on
AIM, focussed on the acquisition of direct and indirect interests
in projects in the agriculture and logistics sectors.
At present the Company holds a 40% interest in African
agri-logistics group AfriAg SA (Pty) Ltd ("AfriAg SA"). AfriAg SA
export a range of perishable goods from farming and fishing
operations in southern Africa to Europe and Asia through
Johannesburg and Cape Town international airports.
In addition AfriAg SA holds a 2 year renewable contract to
transport fresh produce farmed in Mozambique, to countries such as
RSA, UK, Holland, and potential future markets including the
UAE.
AfriAg Marketing (Pty) Ltd ("AfriAg Marketing") was set up in
August 2014, as a 100%-owned subsidiary of AfriAg plc, to focus on
the export and import of perishable food products, with first
orders of seafood received in September 2014.
The Company currently has a focus on opportunities in Africa,
Europe and the Middle East but considers possible opportunities
globally.
Directors
The full names of the Directors of the Company and positions are
as follows:
David Anthony Lenigas, Executive Chairman
Mr. Lenigas holds a Bachelor of Applied Science Degree in Mining
Engineering. He served as Executive Chairman of London listed
Lonrho Plc from 2006 to September 2012 and was in charge of Lonrho
Plc's expansion into over 20 countries in Africa with its main
focus on agri-logistics. He has extensive experience operating in
the public company environment across the UK, African, Canadian and
Australian markets. He also serves as an Executive Chairman of a
number of other publicly listed companies.
Donald Ian George Layman Strang, Finance Director
Mr. Strang is a member of the Australian Institute of Chartered
Accountants and has been in business over 20 years, holding senior
financial and management positions in both publicly listed and
private enterprises in Australia, Europe and Africa. Mr. Strang has
considerable corporate and international expertise and over the
past decade has focussed on mining and exploration activities. Mr
Strang is a member of both the Audit and Remuneration
committees.
Hamish Hamlyn Harris, Non-Executive Director
Mr. Harris holds a Bachelor of Commerce degree and has worked in
the investment banking industry for over 15 years in Singapore,
Hong Kong and London, primarily in the area of market risk
management. He has also run a privately owned private equity
vehicle targeting acquisitions in agriculture in Eastern Europe in
the last few years and is currently a director of Polemos plc and
Doriemus plc.
Sector Classification
AfriAg will be classified as a financial services company on
ISDX.
Significant Shareholdings
Shareholder Number of Ordinary Percentage of
Shares held Issued Share Capital
----------------------- ------------------- ----------------------
Pershing Nominees
Ltd 238,000,000 17.23%
----------------------- ------------------- ----------------------
Vidacos Nominees
Limited 224,250,000 16.24%
----------------------- ------------------- ----------------------
David Lenigas 121,000,000 8.76%
----------------------- ------------------- ----------------------
Forest Nominees
Ltd 118,000,000 8.55%
----------------------- ------------------- ----------------------
Ferlim Nominees
Limited 78,200,000 5.66%
----------------------- ------------------- ----------------------
Beaufort Nominees
Limited 76,214,948 5.52%
----------------------- ------------------- ----------------------
JIM Nominees Limited 69,086,337 5.00%
----------------------- ------------------- ----------------------
Redmayne (Nominees)
Limited 65,900,000 4.77%
----------------------- ------------------- ----------------------
TD Direct Investing
Nominees (Europe)
Ltd 45,461,192 3.29%
----------------------- ------------------- ----------------------
Barclayshare Nominees
Ltd 42,478,141 3.08%
----------------------- ------------------- ----------------------
Donald Strang and Hamish Harris each hold options over
13,600,000 ordinary shares. David Lenigas holds warrants over
40,000,000 new ordinary shares and options over 13,000,000 ordinary
shares.
The percentage of securities in public hands is 33.04%. There
are no restrictions on the transfer of AfriAg's securities.
Further Information
AfriAG was admitted to trading on AIM on 22 November 2010 as 3D
Diagnostic Imaging plc ("3DR"); a copy of the admission document
dated 26 October 2010 is available on the Company's website,
www.afriag.com. The Company subsequently changed its name and the
nature of its operations on 30 April 2013. Prior to the name
change, 3DR operated within the healthcare equipment & services
sector.
The Company will remain admitted to trading on AIM following
admission to ISDX. Its ordinary shares are eligible for CREST
settlement.
The Company is subject to the UK City Code on Takeovers and
Mergers.
David Lenigas, Executive Chairman, commented: "We are seeking
admission to ISDX as a means of further increasing liquidity and
trading options for our shareholders and creating an additional
platform on which to promote the Company's growth".
The directors of AfriAg Plc accept responsibility for this
announcement.
COMPANY CONTACT DETAILS:
AfriAg Plc
38 Jermyn Street
London
SW1Y 6DN
Telephone +44 (0)20 7440 0640
www.afriag.com
CORPORATE ADVISER AND CONTACT DETAILS:
Cairn Financial Advisers LLP, 61 Cheapside, London EC2V 6AX
James Caithie / Jo Turner / Richard Nash
Telephone: +44 (0)20 7148 7900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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