| Tue 13 Feb 2007, 14:27 | | LAF - Lonrho Africa Plc - Norse Air Limited awarde |
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LAF
LOLAF
LAF - Lonrho Africa Plc - Norse Air Limited awarded Anglogold Ashanti Contract
Lonrho Africa Plc
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
NORSE AIR LIMITED AWARDED ANGLOGOLD ASHANTI CONTRACT
Lonrho Africa is pleased to announce that Norse Air Limited ("Norse Air" or "the
Company") has landed its largest contract to date providing AngloGold Ashanti
with a Boeing 737 Quick Change ("QC") to transport passengers and cargo for the
AngloGold Ghana and Mali mines. The contract has an annualised value of US$10m,
which will increase the Company`s turnover by more than 50%. Lonrho acquired 43
per cent of the issued ordinary share capital of Norse Air for a total cash
consideration of US$6 million in November 2006.
AngloGold Ashanti Limited is a global gold producer with 21 operations on four
continents including a substantial project pipeline and an extensive, worldwide
exploration program. The company is listed on the New York, Johannesburg,
Ghanaian, London and Australian Stock Exchanges, as well as the Paris and
Brussels Bourses. AngloGold Ashanti selected Norse Air to provide this service
after an extensive and rigorous selection process because it offered the most
flexible and cost efficient solution and has considerable experience in Ghana
and Mali.
Norse Air will provide an extremely flexible aviation solution for the movement
of passengers and cargo between South Africa, Ghana and Mali. The QC aircraft
is adaptable and can combine the movement of passengers and cargo due to its
passenger seats which sit on pallets. The aircraft will be configured for 68
business class seats offering a comfortable flight experience for the
passengers.
Norse Air is a well-established private aviation business whose activities
include Charter and Freight Services, Leasing, Sales and Maintenance. Its
operations are based primarily in Mauritius and South Africa and also extend to
Afghanistan, Ivory Coast, Ghana, Madagascar, Mali, Mozambique and Singapore. The
Company has long-standing relationships with Governmental and Non-Governmental
Organisations, as well as international businesses. It has successfully operated
aircraft for the United Nations, the World Food Programme, the International Red
Cross and other Non-Governmental Organisations, often under hostile
environmental conditions.
Commenting on the contract, David Lenigas, Joint Executive Chairman and Chief
Executive of Lonrho said:"This contract affirms our decision to invest in Norse
Air, and opens up new opportunities to address the increasing demand for
reliable cargo and passenger air travel across the African continent, as well as
from Africa to other global destinations."
"With the win of this contract and the acquisition of additional aircraft, Norse
Air is becoming one of the fastest growing and most capable operators in the
African passenger and cargo charter market," added Mr. Lenigas.
The Boeing 737 QC will also be utilised in Norse Air`s charter operations to
bolster its current fleet. In the Russian aircraft category, Norse has leased
an IL76 to service existing South African Defense & African Union contracts and
to offer a dedicated service to the growing demand of outsized cargo from South
Africa to the rest of Africa. Norse Air has also recently acquired a Gulfstream
III which will form part of the Company`s growing charter fleet.
13 February 2007
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 13/02/2007 14:27:01 Produced by the JSE SENS Department.
