The information contained within this
announcement is deemed to constitute inside information pursuant to
the EU (Withdrawal) Act and amended pursuant to Market Abuse
(Amended) (EU Exit) Regulations 2019. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For immediate release
30 July 2021
Anglo African
Agriculture plc
(“AAA” or the
“Company”)
Board Changes
The Company announces that the Company’s non-executive Chairman
and director of the board, David Lenigas, has decided to step down
from both positions with immediate effect in order to facilitate
the process whereby the Company embarks on its new path as a port
and marine services business. In the interim Andrew Monk will take over as Chairman of the
Company.
Over the next couple of months new directors with specific port,
marine and Africa experience will
be appointed to bolster the board.
Andrew Monk commenting,
“I would like to thank David for
being our Chairman over the last few years when the Company was
looking for a significant deal. The last few years have not been
easy as the Comarco RTO has taken significantly longer than anyone
could have expected due to circumstances out of our control and
Covid-19 has also caused numerous delays to complete the deal –
probably 16 months. The good news is that the RTO is now close to
the finish line and so it was time to make Board changes to reflect
what the Company will look like in the future I have retaken the
role of Non-executive Chairman in order to ensure a smooth
transition.
I believe the RTO of Comarco Group
will create significant value to the Shareholders of AAA both short
term and long term and I also believe because the port is of such
significant strategic importance, that there will be considerable
interest from outside parties to work with us and before the Covid
Pandemic started we had already seen this. There are also numerous
avenues to grow the business to a much larger group of ports and
marine services across Africa. How
the future pans out will almost certainly mean that the Board may
change in the future and as my objective is purely to restore and
grow shareholder value, I am expecting that my role could change in
a relatively short period after the RTO completes and travel
restrictions are eased as the pandemic comes under control.
AAA is now entering a very exciting
time and I look forward to the future with enthusiasm."
For further information, please visit www.aaaplc.com or contact
the following:
Anglo African Agriculture plc |
|
Andrew Monk, Non-Executive
Chairman |
+44 (0)20 3005 5000 |
Rob Scott, Executive Director |
+27 (0)84 6006 001 |
|
|
Comarco
Group
Simon Phillips (Chief Executive)
Charlie Pettifer |
+27 (0)82 6191 081
+44 (0)77 8811 4411 |
|
|
VSA Capital Limited
(Financial Adviser and Corporate Broker) |
+44 (0)20 3005 5000 |
Andrew Raca, Maciek
Szymanski |
|