AGTA.GB Agriterra Limited

TIDMAGTA

RNS Number : 5090L

Agriterra Ltd

30 April 2020

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

30 April 2020

Agriterra Limited ('Agriterra' or the 'Company')

Agriterra Limited / Ticker: AGTA / Index: AIM / Sector: Agriculture

Board Changes

Agriterra Limited, the AIM-quoted African agricultural company, is pleased to announce the appointment of Sérgio Miguel Lázaro Zandamela as an additional independent non-executive director of the Company with immediate effect.

At the same time, the Company announces the resignation of Amanda Thorburn, with immediate effect. Ms. Thorburn who steps down as a non-executive director of the Company will now focus on her other business interests in the region. The Board thanks Ms. Thorburn for the commitment and enthusiasm shown throughout her tenure as a director of the Company and whilst serving as a member of the Audit Committee. Mr. Neil Clayton will assume the role of Head of the Audit Committee following Ms. Thorburn's resignation.

Sérgio Miguel Lázaro Zandamela

Mr. Zandamela, a Mozambican national, has over 20 years' experience working in sales, marketing and management roles within substantial local and regional businesses in Mozambique and Southern Africa. Mr. Zandamela is currently Socioeconomic and Local Content Manager at Fluor Moçambique Limitada having been responsible from 2016 up to December 2019 for all Mozambique commercial activities of Tongaat Hulett (agriculture and agri-processing business, focusing on the complementary feedstocks of sugarcane and maize), including leveraging the company's positioning for economic relevance in future opportunities within the agri-processing industry. Separately, Mr. Zandamela is currently a Member of the Board of Directors of the Association of Sugar Producers of Moçambique and acts as Chairman of the National Sugar Distributors of Moçambique.

Mr. Zandamela has a strong pedigree in both agriculture and business, having obtained a degree in Agronomy - Rural Engineering from the Eduardo Mondlane University and subsequently an MBA from the Montford University Southern Africa - Sandton Business School.

Previous roles held by Mr. Zandamela include General Manager at ServiTrade AMECO (with responsibility for all operational and statutory matters for a six (6) site operation in Mozambique with annual aggregate revenues of US$56m), General Manager of Unitrans Moçambique Limitada (whose Mozambique operations had an annual revenue of ZAR 200m) and Regional Manager of Unitrans Moçambique Limitada.

The Board welcomes the appointment of Mr. Zandamela and believes that the Company will benefit from his strong local operating experience and his day-to-day management expertise in the Mozambique agricultural sector. In addition, the Board anticipates to benefit from Mr. Zandamela's knowledge of international trade fundamentals and his expertise on agricultural machinery, a subject in which he is a part-time module facilitator at the Eduardo Mondlane University.

As required by Schedule 2(g) of the AIM Rules, the Company confirms that Sérgio Miguel Lázaro Zandamela, aged 47, is currently a director/partner, or has been a director/partner in the past five (5) years, of the companies listed below:

 
 Current Directorships             Past Directorships (last five 
                                    years) 
--------------------------------  ------------------------------ 
 Tongaat Hulett Açúcar   ServiTrade AMECO 
  Limitada 
  APAMO - Association of Sugar 
  Producers of Moçambique 
  National Sugar Distributors 
  of Moçambique 
 

Mr. Zandamela has no direct or indirect interest in the Company's issued share capital.

Other than the information contained within this announcement, there is no further information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.

** ENDS **

For further information please visit www.agriterra-ltd.com or contact:

 
 Agriterra Limited                           Strand Hanson Limited 
                                (Nominated & Financial Adviser and 
                                                           Broker) 
============================  ==================================== 
 Caroline Havers                    James Spinney / Ritchie Balmer 
 caroline@agriterra-ltd.com                   +44 (0) 207 409 3494 
 

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END

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