First Cautionary Announcement
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In accordance with the Lusaka Securities Exchange ("LuSE") Listings Requirements, the Board of Directors ("the Board") of Zambeef Products plc (the "Company" or "Zambeef") wishes to remind its Shareholders that in 2016, British International Investment plc ("BII"), formally CDC Group Plc, acquired 52.6 million ordinary shares and 100,057,658 convertible redeemable preference shares ("Preference Shares") in Zambeef Products plc. The details of the transaction are as set out in the Company's announcement of 4 August 2016, and in the Investment Agreement which can be found on the Company's website.
16 September 2024 will be the eighth anniversary of BII's investment in the Company. After this date BII's conversion rights on their Preference Shares will increase materially, from currently one-for-one new ordinary share, to one for 3.0833 (recurring) new ordinary shares.
Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until further notice.
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