23 Jun 2008 07:00
23 June 2008
LonZim Plc
("LonZim" or the "Company")
Appoints senior partner from Ernst & Young in Zimbabwe to the Board of Directors
LonZim (AIM: LZM), which was established for the principal purpose of making investments in Zimbabwe and the Beira corridor in Mozambique, is pleased to announce that it has appointed Paul Turner to the Board of Directors of LonZim as of 1st July 2008.
Paul Turner will retire from his current position as a senior partner at Ernst & Young in Harare, Zimbabwe on the 30th June 2008. Paul, who has been a partner at Ernst & Young for thirty years brings an unparalleled level of experience in the structure and operation of businesses in Zimbabwe. A past President of the Institute of Chartered Accountants of Zimbabwe he is a highly respected and knowledgeable member of the Zimbabwean business community.
| Current directorships/partnerships | Previous directorships/partnerships for the past 5 years |
| Harbelle Investments P/L Lemurje Investments P/L Personal Company Lisnagarvey Investments P/L Peregrine Investments P/L Rockies (Bulawayo) P/L Skimmer Properties P/L Subelle Investments P/L | Ballagh Investments P/L Belfam Properties P/L Clouds Hill P/L Constek Trading P/L Elhar Trust P/L Elted Investments P/L Ernst & Young Trust Companies P/l Filmvest P/L Fleetcourse Properties P/L Forchin Associates P/L Frambase Transport P/L Haemotech P/L Harpoon Investments P/L Harry Wulfson Holdings P/L I W R P/L Icon Investments P/L Interpharm P/L Jenesli P/L Joseph Sager Trust Co P/L L N K Services P/L Lynbrook Enterprises P/L Memphis Properties P/L Muller & Phipps P/L N X S Holdings P/L Pharmanova P/L Pontiac Investments P/L Ratingen Services P/L Roxburgh Associates P/L Sandpiper Properties P/L Shrodo P/L St Christopher's P/L Trader Horn P/L Tutwiler Properties P/L Velgium Investments P/L Waweru Investments P/L |
David Lenigas, Executive Chairman of LonZim commented:
" I am delighted to welcome Paul to the Board. His experience, business network and guidance in relation to the Zimbabwean business environment and his ability to identify potential transactions, particularly in the current economic climate in Zimbabwe, will be invaluable to the Company. Additionally his extensive knowledge in structuring businesses will help LonZim to grow and consolidate its existing interests in Zimbabwe. This is a key appointment for LonZim as the Company seeks opportunities that are able to add value and strengthen its position in the country."
There are no further disclosures to be made regarding Paul Turner aged 62 under Rule 17 and Schedule Two paragraph (g) of the AIM Rules of the London Stock Exchange.
ENQUIRIES
| LonZim Plc | +44 (0)20 7016 5105 |
| David Lenigas, Executive Chairman | +44 (0)7881 825 378 |
| Geoffrey White, Chief Executive Officer | +44 (0)7717 307 308 |
| Emma Priestley, Executive Director | +44 (0)7867 785 177 |
| Pelham Public Relations | |
| Charles Vivian | +44 (0) 20 7743 6672 +44 (0) 7977 297903 |
| James MacFarlane | +44 (0) 20 7743 6375 +44 (0) 7841 672831 |
| Collins Stewart Europe: NOMAD | |
| Helen Goldsmith | +44 (0) 20 7523 8350 |
NOTES TO EDITORSAbout LONZIM: LonZim Plc ("LonZim") is a company focused on developing and acquiring business opportunities primarily in Zimbabwe and the region of Mozambique known as the Beira Corridor, which links Zimbabwe to the coast. LonZim was listed on the AIM market of the London Stock Exchange on 11th December 2007 after raising £29.16 million. LonZim is 20 per cent. owned and managed by Lonrho Plc (AIM: LONR) a company strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources throughout Africa. Since listing in December 2007, LonZim has invested in or acquired control of:
Celsys Limited www.celsys.co.zw Gardoserve (Private) Ltd t/a Millpal Chemicals
Aldeamento Turistico de Macuti, SARL., a company owning land in central Beira on the Mozambique coast
Paynet Limited
and has entered into an option agreement to acquire a 51 per cent. controlling shareholding in a subsidiary of ForgetMeNot Software Limited Hong Kong ("FMN").
About FMN:
FMN is a privately held company headquartered in Hong Kong with representation in USA and Asia and plans for setting up in Europe in the near future. The company provides a range of scalable Unified Messaging services and technologies to Carriers, Enterprises and Financial Institutions worldwide who wish to capitalise on the ubiquity of the mobile phone and its capacity to enhance and empower individuals and institutions. Its patent pending software allows seamless Unified Messaging and transaction capability using industry standard protocols.