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Zambeef Products Plc Chairman: Dr Jacob Mwanza

THE DEFINITIONS AND INTERPRETATIONS CONTAINED IN THE “DEFINITIONS” SECTION COMMENCING ON PAGE 11 OF THIS CIRCULAR APPLY THROUGHOUT THIS CIRCULAR INCLUDING THIS COVER PAGE (UNLESS THE CONTEXT INDICATES A CONTRARY INTENTION).

Zambeef Products PLC is a public limited company, and in conformity with Part V of the Securities Act (1993), its shares are registered with the Securities and Exchange Commission.

The purpose of this document is to inform Shareholders of the Proposed Transaction as stipulated under Section 9.27 (Transactions – Category 1 Requirements) in the Harmonised Listings Requirements of the Lusaka Stock Exchange. The categorisation of the Proposed Transaction is determined by assessing its relative size to that of the market capitalisation of the Company. A percentage ratio of above 25 per cent. implies that the Proposed Transaction falls under the Category 1 Requirements of the LuSE Listing Rules.

Circular to Shareholders

in respect of:
  • the Proposed Transaction involving the disposal by Zambeef of 100 per cent. of its shareholding in its wholly owned subsidiary, Zamanita Limited, to Cargill Holdings BV.
and incorporating:
  • a Notice of Extraordinary General Meeting;
  • a Form of Proxy; and
  • a Supplement detailing the Joint CEO Long Term Incentive Plan.

ACTION REQUIRED:

  • If you are in any doubt as to the meaning of the contents of this Circular or as to the action you should take please consult your accountant, bank manager, stockbroker or other professional adviser immediately.
  • If you no longer hold any shares in Zambeef then you should send this Circular, as soon as possible, to the stockbroker through whom the sale of your shareholding in Zambeef was effected, for onward transmission to the purchaser or transferee of those Zambeef Shares.

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