Result of General Meeting
Zambeef Products PLC announced that an ordinary resolution was passed at its Extraordinary General Meeting on March 11, 2026, approving the waiver of independent shareholders' right to participate in a mandatory offer from British International Investment plc (BII). This waiver is a condition for BII to convert its 100,057,658 preference shares into 308,511,112 ordinary shares, a conversion that has not yet occurred and requires a 30-business day notice period. Currently, Zambeef's issued share capital remains at 300,579,630 Ordinary Shares and 100,057,658 Preference Shares.
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Share Code: ZAMBEEF
RESULT OF EXTRAORDINARY GENERAL MEETING
Zambeef (AIM: ZAM), the fully integrated cold chain food products and retail business with operations in Zambia, Nigeria and Ghana, announces that at the Extraordinary General Meeting held on 11 March 2026, the ordinary resolution, initially announced in the 'EGM re Conversion of Preference Shares' announcement on 10 February 2026, was duly passed. The full Waiver Resolution is set out below:
Ordinary Resolution: Waiver of Right to Participate in a Mandatory Offer
THAT in accordance with the conditional waiver granted by the Securities and Exchange Commission (SEC) on 29 September 2025 to British International Investment plc (BII) waiving the requirement to make a mandatory offer to Shareholders of Zambeef Products plc under Rule 56 of the Takeovers and Mergers Rules pursuant to the conversion of its 100,057,658 preference shares into 308,511,112 ordinary shares each in the capital of Zambeef Products plc (the Conversion), the independent shareholders of the Company hereby waive their right to participate in a mandatory offer by BII (and persons acting in concert with them) that would otherwise arise as a result of the Conversion and approve the waiver.
Until receipt of any Conversion notice from BII, which would include a 30 business day notice period, no Conversion will take place. At this time, there is no change to the Company's issued share capital of 300,579,630 Ordinary Shares and 100,057,658 Preference Shares.
Capitalised terms used in this announcement have the meanings given to them in the Company's EGM announcement of 10 February 2026, unless the context provides otherwise.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.