11th Jun 2008 09:00
11 June 2008
LONRHO PLC ("Lonrho" or the "Company")
'Fly540 Angola' and 'Lonrho Springs Angola' projects
receive approval from Angolan Government
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African investments, is pleased to announce that it has received the necessary formal approvals from the Angolan Government, Agência Nacional para o Investimento Privado (ANIP) to permit its Fly540 airline and Lonrho Springs water bottling projects in Angola to benefit from the tax holiday incentives promoted by ANIP.
This formal approval, the Certidao Registro Investimento Privado ( CRIP ), will facilitate the importation of capital equipment on a duty free basis and the repatriation of capital.
David Lenigas, Executive Chairman of Lonrho Plc commented:
"We are delighted that the ANIP approval process has been completed so professionally in such a quick timeframe. Bureaucracy in Africa can be very onerous and seriously delay projects. These approvals are a significant step to commencing the operations for both Fly540 and Lonrho Springs within Angola and providing tangible job creation and GDP to the Angolan economy."
LONRHO ENQUIRIES
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Lonrho Plc |
+44 (0)20 7016 5105 |
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David Lenigas, Executive Chairman |
+44 (0)7881 825 378 |
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Geoffrey White, Chief Executive Officer |
+44 (0)7717 307 308 |
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Emma de Borchgrave, Executive Director |
+44 (0)7867 785 177 |
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Pelham PR |
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Charles Vivian |
+44 (0) 20 7743 6672 |
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+44 (0) 7977 297903 |
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James MacFarlane |
+44 (0) 20 7743 6375 |
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+44 (0) 7841 672831 |
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Collins Stewart Europe : NOMAD to Lonrho |
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Hugh Field |
+44 (0) 20 7523 8350 |
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company's shares are traded on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services, hotels and natural resources. The Company has over 19,000 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)
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes and Pieces www.bytespieces.com
Kwikbuild - www.e-kwikbuild.co.za
LonZim - www.lonzim.co.uk
Related Shares:
Lonrho