| Wed 12 Sep 2007, 12:14 | | LAF - Lonrho Plc - Completion of acquisition launc |
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LAF
LOLAF
LAF - Lonrho Plc - Completion of acquisition launches Lonrho into the African IT
Industry
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
COMPLETION OF ACQUISITION LAUNCHES LONRHO INTO THE AFRICAN IT INDUSTRY
Further to the announcement on 7 June 2007, Lonrho (AIM : LONR), the
conglomerate with a diverse portfolio of African investments, is pleased to
announce that it has now completed the acquisition of 65% of one of Mozambique`s
largest commercial Information Technology Solution Providers, Sociedade
Comercial Bytes & Pieces, Limitada ("Bytes & Pieces"). Bytes & Pieces provides
turnkey network solutions, maintenance and support to Mozambique business, NGO`s
and Government organisations.
Lonrho acquired Bytes & Pieces for $2.34 million (in cash) and will take up two
of the four Board positions. The two founders of Bytes & Pieces, Vijay Thadani
and Veronica Miller, will together retain 35% and remain on the Board. Bytes &
Pieces is an authorised distributor of Dell equipment in Mozambique, providing
Enterprise Solutions on a Dell hardware platform. It is also a Microsoft
Certified Partner and an authorised distributor for CISCO Systems, MGE UPS
Systems and Legrand networking products.
Bytes & Pieces plans to expand outside Mozambique under the name of Complete
Enterprise Solutions ("CES") by setting up a distribution division for high
quality networking products and an Enterprise solutions implementation division
based upon the Dell hardware platform.
David Lenigas, Lonrho Chairman and CEO commented:
"We are delighted to have completed on the acquisition of Bytes & Pieces.
Lonrho intends to build on the success of Bytes & Pieces and replicate the
business model built up in Mozambique through other countries in Africa,
starting with the company`s first office in Johannesburg. We believe the
business expansion of CES will assist the growth of the African economy to meet
the IT demands across the continent."
ENQUIRIES
Lonrho Plc +44 (0) 20 7016 5105
David Lenigas, Chief Executive +44 (0)7881 825 378
Emma Priestley, Executive Director +44 (0)7867 785 177
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
Alisdair Haythornthwaite +44 (0) 20 7743 6676
+44 (0) 7714 721379
Collins Stewart Europe
Hugh Field +44 (0) 20 7523 8350
Jonny Sloan
NOTES TO EDITORS
About BYTES & PIECES:
Bytes & Pieces provides turnkey network solutions, maintenance and support to
Mozambique business, NGO`s and Government organisations. It featured at 53 in
the KPMG "Top 100 Companies in Mozambique" survey in 2004 and is an authorised
distributor of Dell equipment in Mozambique, providing Enterprise Solutions on a
Dell hardware platform.
The IT company is a Microsoft Certified Partner and was awarded the System
Builder Partner of the Year 2006 for East and Southern Africa. Bytes & Pieces is
also an authorized distributor or value added reseller for CISCO Systems, MGE
UPS Systems and Legrand networking products.
Bytes & Pieces recorded pre-tax profits of US$854,000 in 2006, on revenue of
US$8.6 million.
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful
business throughout Africa. The Company is listed on the London AIM stock
exchange (LONR). Lonrho is strategically focused on the development of business
opportunities in infrastructure, transportation, support services and natural
resources. The Company has over 20,000 shareholders and substantial
institutional backing to support its mandate to build a profitable business that
plays a fundamental role in the development of the African economy.
Since 2006, the Company has invested in or acquired control of:
Hotel Cardoso - www.hotelcardoso.co.mz (retained)
Nare Diamonds - www.narediamonds.com
Brinkley Mining - www.brinkley-mining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Norse Air - www.norseair.co.za
Swissta Holdings - www.swissta.com
Countermine - www.countermine.com
SA Independent Liner Services
12 September 2007
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 12/09/2007 12:14:03 Produced by the JSE SENS Department.
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