Anglo African Ag PLC Directorate Change
July 30 2021 - 2:01AM
UK Regulatory
TIDMAAAP
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) +27 (0)82 6191 081
Charlie Pettifer +44 (0)77 8811 4411
VSA Capital Limited (Financial Adviser and +44 (0)20 3005 5000
Corporate Broker)
Andrew Raca, Maciek Szymanski
END
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