TIDMLZM
RNS Number : 0947Y
LonZim PLC
24 February 2012
24 February 2012
LonZim plc
("LonZim" or the "Company")
Result of AGM, board changes and Change of name
Following the passing of all resolutions at today's AGM, the
board is pleased to announce the appointment of Ian Perkins as
Non-Executive Chairman, Edzo Wisman as an executive director and
Chief Executive Officer, and Itai Mazaiwana and Fred Jones as
Non-Executive Directors with immediate effect.
The shareholders have today also approved the change of name to
Cambria Africa plc. The Company's stock exchange symbol is to be
changed to CMB and is expected to become effective on AIM on 28
February 2012.
Biographical and other details of the directors appointed are
included in the further information section below.
Commenting, Ian Perkins, non-executive Chairman, said
"Cambria is going to have the best of both worlds - it has fresh
beginnings, but is founded on the increasingly solid track records
of its subsidiary companies. As such, working to grow the newly
named Cambria, while continuously keeping in mind our underlying
focus on increasing shareholder value, is an exciting prospect I am
very much looking forward to. I am also excited by the
opportunities offered by Zimbabwe, and how Cambria is positioned to
benefit from these opportunities, as well as by the excellent
management team led by Edzo Wisman."
Cambria's Chief Executive Officer (CEO), Edzo Wisman added:
"The Company's new identity represents our belief that we are
entering a new era for Cambria as well as for Zimbabwe. Key to our
strategy is adding shareholder value by creating highly focused
businesses; investing appropriately in these businesses, and
turning them into value added industry leaders in Zimbabwe. Through
our relationships in the world's financial centres we will look to
invest in our core companies, harnessing the potential in each of
them with a view to building them into Zimbabwe's premier
businesses in their respective industries."
Following shareholder approval of the AGM resolutions, David
Lenigas, Geoffrey White, David Armstrong and Jean Ellis, who were
nominated by Lonrho Plc to establish and develop the Company, have
stepped down from the Board to focus on Lonrho Plc's other more
core activities. Furthermore, Emma Priestley, who was also
nominated by Lonrho Plc and retired by rotation this year, did not
seek re-appointment.
For further information please visit www.lonzim.co.uk or
contact:
Cambria Africa plc
Ian Perkins +44 (0) 7831 674 585
Edzo Wisman +1(0) 41 635 8191
WH Ireland Ltd: Nomad and Broker
James Joyce / Nick Field +44 (0) 20 7220 1666
Pelham Bell Pottinger
Charles Goodwin +44 (0) 20 7861 3117
Charlie Harrison +44 (0) 20 7861 3125
Further Information
Ian Perkins
Ian has over 40 years' experience in the City. He was at James
Capel & Co. from 1978 until 1991 (where he was a director and
head of the fixed income division). From 1991 until 1996 Ian was
director and later the chief executive officer of listed bank King
& Shaxson Holdings plc. When Gerrard Group took King &
Shaxson over in 1996, Ian became a director of Gerrard Group plc
and chairman of the Gerrard & King bank. Following Gerrard
Group's takeover by the Old Mutual Group in 2000, Ian became a
director of Old Mutual Financial Services plc, and was the chief
executive officer and later chairman of GNI Limited until 2003.
From 2003 until 2010, Ian was chairman of fixed income and
inter-dealer broking company King & Shaxson Limited.
Ian Richard Brice Perkins, aged 62, has held the following
directorships or partnerships within the last five years.
+----------------------------+-----------------------------------+
| Current | Past |
+----------------------------+-----------------------------------+
| Consilium Emerging Markets | Illex Asset Management (UK) LLP |
| Absolute Return Fund Ltd. | |
+----------------------------+-----------------------------------+
| Consilium Corporate | King and Shaxson Ltd. |
| Recovery Fund Ltd. | |
+----------------------------+-----------------------------------+
| Emerging Markets Absolute | King and Shaxson Asset Management
|
| Return Fund Ltd. | Ltd. |
+----------------------------+-----------------------------------+
| Southern Properties | King and Shaxson Capital Ltd. |
| V PLC | |
+----------------------------+-----------------------------------+
| Swinley Forest Golf Club | Phillip Securities (UK) Nominees |
| | Ltd. |
+----------------------------+-----------------------------------+
| Tandem Entertainment Ltd. | Southern Properties I PLC |
+----------------------------+-----------------------------------+
| | Southern Properties II PLC |
+----------------------------+-----------------------------------+
| | Southern Properties III PLC |
+----------------------------+-----------------------------------+
| | Southern Properties IV PLC |
+----------------------------+-----------------------------------+
| | Southern Properties VI PLC |
+----------------------------+-----------------------------------+
| | Southern Properties VII PLC |
+----------------------------+-----------------------------------+
Ian has an interest in 200,000 ordinary shares in the Company
through his pension scheme.
Edzo Wisman
Edzo joined the Company as general manager in 2010. Prior to
that, in 2003 he founded and was managing director of Stuart
Lammert & Co. ("SL&C"), a financial advisory firm based in
Toronto and New York focused on corporate finance, restructurings
and mergers and acquisitions. Prior to founding SL&C, Edzo was
a vice president, investment banking, with CCFL Advisory Services,
a Canadian based merchant bank. Previously he was with Wilshire
Associates, first with the consultancy practice in Amsterdam
servicing some of Europe's largest institutional investors, and
then with the private markets group at its California headquarters
seeking opportunities in leveraged buyout markets. Prior to this,
he was with the investment department of the pension funds of KLM
Royal Dutch Airlines.
Edzo Lammert Wisman, aged 38, has held the following
directorships or partnerships within the last five years.
+----------------------------+-----------------------------------+
| Current | Past |
+----------------------------+-----------------------------------+
| Diospyros Investments | Canadian Netherlands Business and |
| | Professional Association |
+----------------------------+-----------------------------------+
| 1793161 Ontario Inc. | Stuart Lammert Corporation |
+----------------------------+-----------------------------------+
Edzo is beneficially interested in aggregate, directly and
indirectly, in options to acquire 1,000,000 ordinary shares in
LonZim at a price of 30 pence per share, representing 1.7 per cent.
of the Company's current issued share capital.
Itai Mazaiwana
Itai started his career in research and education at the
Institute of Mining Research at the University of Zimbabwe as an
analytical geochemist. During his subsequent career in the private
sector, Itai held senior positions in the mining and chemicals
industries at ZISCO STEEL, Anacal Laboratory, Ardington
Exploration, and Polokwana Chemicals (South Africa). Itai is
currently a director of Jeune Zimbabwe, Mining and Infrastructure
Development Corporation (MIDCO) (a joint venture between Jeune and
the Government of Zimbabwe dealing in power stations) and
Pan-African Energy Resources (a consortium of European and
Zimbabwean engineers and scientists developing a 2000MW power
station). In recent years, Itai has acted as a technical adviser
to, Orange Advisory Alliance (South Africa), Lineband/Scores
Mining, and New Frontier Partners Zimbabwe. The latter organisation
promotes local participation in Zimbabwe's mining and energy
sectors.
Itai Calvin Mazaiwana, aged 51, has held the following
directorships or partnerships within the last five years.
+----------------------------+-----------------------------------+
| Current | Past |
+----------------------------+-----------------------------------+
| Kana Mines (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
| Wedza Mines (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
| Orange Advisory Services | |
+----------------------------+-----------------------------------+
| Jeune Zimbabwe (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
| Mining and Infrastructure | |
| Development Corporation | |
| (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
| Pan-African Energy | |
| Energy Resources Group | |
| Ventures (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
| Lineband Mining (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
| Scores Mining (Pvt) Ltd. | |
+----------------------------+-----------------------------------+
Itai has no beneficial interest direct or indirect, in the share
capital of the Company.
Fred Jones
Fred is the chairman of Jutland Group, a private Hong Kong based
investment management and commodity firm which he founded in 2006
to manage portfolios of foreign exchange, precious metals and
international debt. Fred founded Jutland Metals Limited to manage
and control the logistics of physical precious metals management
for corporate and high net worth individual clients. Fred also
founded Jaramcor International, a commodity supply-chain manager
and supplier of pulp/paper, chemicals and agricultural products. He
was previously vice president, private client services, at Bear
Stearns Global Wealth Management, where he specialised in the
management of international bond and foreign exchange portfolios
for high net worth clients and also advised European corporate
clients on multi-currency financings and bond buybacks. Prior to
working with Bear Stearns, Fred worked with the international
private client group of Merrill Lynch, managing international bond
and currency portfolios for high net worth clients. He holds a BSc
in Accountancy and an MBA in Finance from Florida A&M
University.
Fred Yvonzio Jones, aged 42, has held the following
directorships or partnerships within the last five years.
+----------------------------+-----------------------------------+
| Current | Past |
+----------------------------+-----------------------------------+
| Jutland Group | |
+----------------------------+-----------------------------------+
| Jutland Capital Management | |
+----------------------------+-----------------------------------+
| Jutland Metals | |
+----------------------------+-----------------------------------+
| Jaramcor Internationl | |
+----------------------------+-----------------------------------+
| Jutland Investments | |
+----------------------------+-----------------------------------+
Fred has no beneficial interest direct or indirect, in the share
capital of the Company.
There is no other further information that is required to be
disclosed with regards to the above mentioned appointment pursuant
to Schedule 2 paragraph (g) of the AIM Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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