LAF - Lonrho Africa - Norse Air Limited re-awarded
LAF
LOLAF
LAF - Lonrho Africa - Norse Air Limited re-awarded contract with South Africa`s
National Treasury
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 RE-AWARDED CONTRACT WITH SOUTH AFRICA`S NATIONAL TREASURY
Lonrho is pleased to announce that Norse Air Limited ("Norse Air" or "the
Company") has been re-awarded a two year contract, ending 28 February 2009,
by the National Treasury Department of the Republic of South Africa for the
hiring of aircraft and helicopter to the State. 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.
During the period covered by the previous 2 year contract, from 2004 to 2006,
the contract had a gross value to Norse Air of approximately South African
Rand 25 million (approximately GBP1.75 million).
This follows the award of Norse Air`s largest contract to date, announced on 13
February 2007, to provide AngloGold Ashanti with a Boeing 737 Quick Change
to transport passengers and cargo for the AngloGold Ghana and Mali mines.
The contract with AngloGold Ashanti has an annualised value of US$10
million, which will increase the Company`s turnover by more than 50%.
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.
2 March 2007
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 02/03/2007 15:22:00 Produced by the JSE SENS Department.
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