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 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

Copyright y 29 PR Newswire

Anglo African Agriculture (LSE:AAAP)
Historical Stock Chart
From Jun 2022 to Jul 2022 Click Here for more Anglo African Agriculture Charts.
Anglo African Agriculture (LSE:AAAP)
Historical Stock Chart
From Jul 2021 to Jul 2022 Click Here for more Anglo African Agriculture Charts.