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LAF
LOLAF
Lonrho Africa Plc - Annual General Meeting And Directorate Change
Lonrho Africa Plc
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
ANNUAL GENERAL MEETING AND DIRECTORATE CHANGE
At today"s Annual General Meeting, David Lenigas, Lonrho Africa"s Chief
Executive, made the following statement:
"I am delighted to report that we are successfully implementing our new
investment strategy that was approved by shareholders at the EGM held on 24
February 2006. We are doing just what we set out to do: positioning Lonrho
Africa as a significant player once again on the African continent. The newly
adopted investment strategy focuses on the natural resources, infrastructure and
leisure sectors.
This new strategy follows a period wherein our Directors concentrated on the
disposal of residual assets in Africa whilst continuing to seek opportunities to
maximise shareholder value.
This year we hit the ground running with two investments in mining:
In March, we invested GBP5 million in Brinkley Mining Plc ("Brinkley"), which
has significant uranium and molybdenum prospects in the Karoo region of South
Africa. We have also invested GBP1.5 million in South African diamond producer
Nare Diamonds Limited ("Nare"). Both Brinkley and Nare are seeking admission
to AIM in the first half of 2006. These investments will provide Lonrho Africa
with exposure to the lucrative uranium and diamond industries. I am also
pleased to announce that I will become non-Executive Chairman of Nare.
We are thrilled that Nare has recently recovered a very rare 235 carat diamond
from its Schmidtsdrift Diamond Mine in South Africa. The discovery of such a
large gem-quality diamond shows the potential for considerable upside on this
investment.
As announced at the time of our preliminary results, I will be taking on the
role of Chairman following the conclusion of this Annual General Meeting and
would like to take this opportunity to thank Christopher Mills for all his hard
work in the previous seven years as a Director, and latterly as Chairman, of
Lonrho Africa."
"I would also like to thank Lonrho Africa"s shareholders for their continued
support and look forward to the future with confidence."
For further information, please
contact:
Lonrho Africa Plc
David Lenigas, Chief Executive +44 (0)7881 825 378
Emma Priestley, Executive Director +44 (0)7867 785 177
Strand Partners Limited +44 (0)20 7409 3494
Simon Raggett +44 (0)7769 883 666
Cardew Group +44 (0)20 7930 0777
Nadja Vetter +44 (0)7941 340 436
Eden Mendel +44 (0)7887 676 603
Emma Consett +44 (0)7971 468 308
28 April 2006
South African sponsor to Lonrho Africa Plc
Java Capital (Pty) Limited
Date: 28/04/2006 04:41:47 PM Produced by the JSE SENS Department
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