2nd Mar 2007 07:30
Lonrho Africa PLC02 March 2007 2 March 2007 LONRHO AFRICA PLC ("Lonrho") NORSE AIR LIMITED RE-AWARDED CONTRACT WITH SOUTH AFRICA'S NATIONAL TREASURY Lonrho is pleased to announce that Norse Air Limited ("Norse Air" or "theCompany") has been re-awarded a two year contract, ending 28 February 2009, bythe National Treasury Department of the Republic of South Africa for the hiringof aircraft and helicopter to the State. Lonrho acquired 43 per cent of theissued ordinary share capital of Norse Air for a total cash consideration ofUS$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 Rand25 million (approximately £1.75 million). This follows the award of Norse Air's largest contract to date, announced on 13February 2007, to provide AngloGold Ashanti with a Boeing 737 Quick Change totransport passengers and cargo for the AngloGold Ghana and Mali mines. Thecontract with AngloGold Ashanti has an annualised value of US$10 million, whichwill increase the Company's turnover by more than 50%. Norse Air is a well-established private aviation business whose activitiesinclude Charter and Freight Services, Leasing, Sales and Maintenance. Itsoperations are based primarily in Mauritius and South Africa and also extend toAfghanistan, Ivory Coast, Ghana, Madagascar, Mali, Mozambique and Singapore. TheCompany has long-standing relationships with Governmental and Non-GovernmentalOrganisations, as well as international businesses. It has successfully operatedaircraft for the United Nations, the World Food Programme, the International RedCross and other Non-Governmental Organisations, often under hostileenvironmental conditions. End For further information, please contact: Lonrho Africa Plc +44 (0) 20 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297 903 Alisdair Haythornthwaite +44 (0) 20 7743 6676 +44 (0) 771 472 1379 Notes to Editors Lonrho is in the process of re-establishing a significant presence on theAfrican continent. Its investment and acquisition strategy, which was adoptedfollowing the appointment of David Lenigas as Chairman and Chief Executive andsubsequent shareholder approval in February 2006, focuses on the naturalresources, infrastructure, leisure and agribusiness sectors. Lonrho's executiveteam has considerable experience across these industries in a wide range ofcountries. This year, Lonrho has announced investments in Brinkley Mining Plc,Nare Diamonds Ltd, Luba Freeport, Norse Air and Fly540. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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