CandyCrushLover
27 Feb 2019
Years ago when this company first floated I invested in AfriAg, and one of the primary reasons was because Lenigas was involved and I knew he was a successful businessman who (I thought) had a good head on his shoulders. However, soon after investing the stock tanked by 95% and has never made its way back up again. What is going on with this company? I don't understand why we are not seeing any return on our investment. I've written to them a few times and they've never responded.
shyduck
01 Jun 2018
Re: AFRIAG FINALS Well, Mr Market certainly didn't agree with you and the SP is now at an all-time low.Why do you think that is?Possibly because:- AFRI still can't cobble together a profit- in order to reduce the losses, AFRI sold its last AFS investments…at a loss- No explanation where Afriag Pty's £14.75m revenues have gone- No real inflation-adjusted growth from Afriag Marketing- Not a word about the promised move to a real stock exchange- Implied fundraising/dilution to facilitate "further investments" in Africa- Probable repeat fundraising/dilution for more working capital- Going Concern status claimed as most expenses are "discretionary"?- Both AFRI and Afriag Pty close to trading while insolvent- Afriag Pty unexplained liabilities of £5.5m- Afriag Pty unexplained assets of £5.5m- The directors are still owed £336k in back pay- Total capital expenditure on a £3m+ revenue business is just £4k?- Inventory for a £3m+ revenue business is just £3k?- Only £280k of unpaid invoices on £3m+ revenues (£345k in 2016)?- Nothing of note to report since the end of last year?Lenigas is taking the mickey with his lack of commentary on these oddities. Something is rotten here.Not forgetting that that AFRI's alleged 40% ownership of Pty is not recorded in the designated place so shareholders may find that they have zero equity in this associate.It's about time you guys turned up at the AGM with some hard questions.
ybhere
01 Jun 2018
AFRIAG FINALS 31 May 2018 AfriAg Global PLC ("AfriAg Global" or the "Company"
Audited Final results for the year ended 31 December 2017 Chairman's report (incorporating the strategic report) This has been a very good year for the Company business growth as a global agri-logistics logistics provider, and I am pleased to present the annual report and financial statements for AfriAg Global plc (the "Company" and, together with its wholly owned subsidiaries, the "Group" for the year ended 31 December 2017. Our global distribution footprint has expanded considerably during the year, as we moved to distributing perishable food products by road, air and sea for and to global customers (South Africa, Mauritius, Mozambique, Zimbabwe, Zambia, DRC, Kenya, USA, UK, France, Holland, Russia, Japan, New Zealand and others). AfriAg Marketing had a good year, with revenues growing 3% to GBP3.122 million during the period. The Company's investment in specialist global agri-logistics group AfriAg (Pty) Limited continues to add value as its business continues to grow and develops into a significant global logistics enterprise. It has reported a 26% increase in full year revenues to GBP14.746 million for the 12 months ended 31 December 2017 (2016: GBP11.704 million); a gross profit of GBP2,173,000 (2016: GBP927,000) and a net profit for the year of GBP179,000 (2016: GBP104,000). The Company has equity-accounted for its 40% share of this profit for 2017, being GBP72,000 (2016: GBP42,000). Gross profit for the Group decreased marginally to GBP280,000 (2016: GBP334,000). Group Results for the period: * The Group's gross turnover has increased by 3% to GBP3.122 million for the year (2016 - GBP3.035 million). * The Group's net loss after taxation for the year was GBP38,000 (2016 - GBP9,000 loss). * The Group's current assets including cash at 31 December 2017 amounted to GBP 1,293,000 (2016 - GBP1,261,000). * The Group's 40% owned agri-logistics investment, AfriAg (Pty) Ltd had gross turnover increasing 26% to GBP14.746 million (2016 - GBP11.704 million) and reported a net profit of GBP179,000 (2016 - GBP104,000). The Directors do not recommend a payment of a dividend Strategic Review for the Period: AfriAg Global is seeing its business plan come together as we expand our operations to providing elite logistic solutions for the timely movement of perishable food not only from Africa to the world but also from the world in to Africa. At the heart of our business is our own global network, fleet and staff based in Johannesburg at our large modern facilities near O.R. Tambo International Airport. The AfriAg HQ is a full-service logistics facility equipped with the latest facilities to meet our customer's demanding needs. Our global partner network spans strategic road, air and sea routes harnessing our resources across this network enables us to deliver bespoke logistics solutions for our customers. We have strong relationships with our freight counterparties and their branches, fleet, facilities and infrastructure in locations across Europe, Asia, North Americas, and the Middle East. AfriAg has grown to supply our customers with world class global logistics delivering across our global footprint, international and domestic freight transport services, distribution and refrigerated warehousing services through to remote haulage logistics, aviation and marine logistics support services. Delivering these services are our main priority. Collectively, they enable us to efficiently and effectively deliver the solutions our customers are looking for, right around the world. AfriAg Marketing Pty Ltd (100% owned by AfriAg Global Plc): AfriAg Marketing has experienced a good year of trading activity, with rev
shyduck
16 May 2018
Who is selling at 0.12 …and why?Not looking good at all. Results due this month.
shyduck
25 Apr 2018
Afriag SA I see that poor old Optimist in the other place is still labouring under the delusion that "Afriag SA" exists as a registered company. It doesn't. A search at CIPC for all companies with "Afriag" in their name returns only:AFRIAGAFRIAG HOLDINGSAFRIAG MARKETINGAFRIAG AGRICULTUREUntil I reported him to the regulator, Lenigas tried to mislead y'all into believing that you had invested in a company explicitly named as "Afriag SA (Pty) Ltd". It never existed. You can find it in reports via Google but only because those reports quote from Lenigas's misleading announcements.In later announcements, Lenigas corrected the name to Afriag (Pty) Ltd and claimed he was just using "Afriag SA" as a form of shorthand.Tell Optimist to go look it up for himself at [link]
shyduck
25 Apr 2018
Re: Afriag news Correction: Amalgamated Tobacco Manufacturing does still exist - but it appears that much of its business has been transferred out, including to Ten Winters (Pty) Ltd, trading as CK FMCG.
ybhere
25 Apr 2018
Re: Afriag news Morning again SD,One reason I was attracted to AfriAg was that the company is lining themselves up for Brexit and the removal of tarrifs for African produce.. I picked up the following this morning, April 24, 2018Remainer Lord Hannay is wrong about EU tariffs on African importsRemainer Lord Hannay is wrong about EU tariffs on African importsKevin Dowd Written byKevin DowdKevin Dowd is professor of finance and economics at Durham University and a member of Economists for Free Trade.SHARE twitter-icon facebook-sidebar email-sidebarThere was an interesting argument in the House of Lords last week. Last Wednesday, April 18th, Viscount Ridley was speaking against the various wrecking amendments to the European Union (Withdrawal) Bill when Lord Hannay interrupted him: “I just want to ask the noble Lord where he gets his idea that being in a customs union with the European Union will mean imposing tariffs on Africa when the European Union has zero tariffs on all African countries.” Lord Ridley responded: “The European Union has an external tariff. It applies to not all products from Africa, admittedly, but to a considerable number.” [emphasis added] Lord Ridley is correct. There are still plenty of tariffs against imports from African countries. To give some examples, consider the tariffs that the UK is obliged to apply to imports from Nigeria (as indeed are France, Germany and every EU member state). These include, among others:15% tariffs on live animals26% on meat and edible meat offal31% on dairy produce, birds’ eggs; natural honey; edible products of animal origin not elsewhere specified or included12% on edible vegetables and certain roots and tubers18% on products of the milling industry; malt; starches; inulin; wheat gluten23% on preparations of fish and meat, of fish or of crustaceans, molluscs or other aquatic invertebrates28% on sugars and sugar confectionery18% on preparations of vegetables, fruit, nuts or other parts of plants19% on tobacco and manufactured tobacco substitutesAnd so on. More details can be found here. As another example, consider this screenshot showing UK tariffs on certain categories of orange imports (accessed April 22nd 2018): Note the date: 22nd April 2018. Scroll down and we find:Egypt: a tariff of 45.90 Euros/100 kgMorocco: a tariff of 56.20 Euros/100 kgTunisia: a tariff of 65.90 Euros/100 kgMeanwhile, Gabon, Nigeria and the Republic of Congo are subjected to the EU’s general orange tariff of 64.40 Euros/100kg. The tariff schedules are there for all to see, and these are current tariffs. The claim that there are no EU tariffs against imports from African countries is demonstrably false. The fact is that the EU still has tariffs against imports from African countries – and way too many of them too.YB
ybhere
25 Apr 2018
Re: Afriag news Morning SD,It's beyond me what's going on. All credit to you for doing some spadework and well worth raising with Lenigas, Harris, or Strang to see if any of them can clear the air. YB
shyduck
24 Apr 2018
Re: Afriag news Also disturbing is the discovery from CIPC that Afriag (Pty) group's formerly biggest revenue earner, Amalgamated Tobacco Manufacturing (Pty) Ltd is no longer a registered company - presumably as a result of the smuggling charges against it.This will have had a material impact on Afriag (Pty) revenues and therefore on alleged 40% owner, Afriag Plc - so why has there been no RNS about it?The UK regulators have been informed.In passing, I noted that Cozinix (Pty) Ltd, the Paul de Robillard company which received AFRI's £1.3m (188m AFRI shares) for the alleged investment in Afriag (Pty), has also ceased to exist.Fishy business.
shyduck
24 Apr 2018
Afriag news Worryingly, there seems to be no legal record of AFRI's 40% stake in Afriag (Pty) Ltd.PIs were told by RNS on 30/7/2013 that the £1.3m investment had been properly recorded in Afriag (Pty)'s Memorandum of Incorporation (MOI) - but it never was recorded there.I have retrieved the current Afriag (Pty) MOI from the South African regulator, CIPC and it doesn't mention AFRI or any equity deal. In fact, it hasn't been changed since it was first filed on 17/7/2013.You can view it here: [link] Lenigas has some explaining to do. The UK regulators have been informed.
ybhere
21 Feb 2018
Re: David Lenigas tweeted LGC Evening aka,I missed those 'bits' when I first looked. Nice tan though.YB
akaDolly
21 Feb 2018
Re: David Lenigas tweeted LGC thanks for the links YBHI dont think there is any doubt that the cannabis products are going to take off and make some companies (and entrepreneurs) a lot of money. Im just not seeing it for Afriag Global, yet.....I'll waitI dont like all this stuff thats going on re investigations blah de blah.The comment it needs tidying up re the website, made me smile, I hope they intend to sack the old men running the advertising/ marketing campaign. In the shots under "where do we see things heading" they have some tinctures and some chocolate. In the middle they have a young models bottom. Im supposing that is reference to the swimwear. Bit old fashioned for modern marketing, they will be popping a cannabis leaf over her bits nextQuite right, needs tidying...and modernising
ybhere
21 Feb 2018
Re: David Lenigas tweeted LGC LGC Capital rebranding starts. A bit more work to tidy up new website and branding over the next few days and add a lot more information. But I wanted you to see it. [link] @LGCCapital_LG @Jadmcmullen $LG.VYB
ybhere
20 Feb 2018
AfriAg potential Westmonster News today, post Brexit, if it's good for Australia it will be good for AfriAg in South Africa and elsewhere. In my view, the setting up of the UK Marketing arm of AfriAg under Tim Stokes is all in preparation for Brexit. David Lenigas Exec Chair of AfriAg is a staunch advocate of Brexit. A bumper free trade deal with Australia would be taken off the table if Britain remained in the Customs Union, according to the Australian Foreign Minister.Julie Bishop said: “Australia is very keen to pursue a free trade agreement with the United Kingdom. I think that would be precluded if the United Kingdom were to rejoin the Customs Union.”So there we have it, this talk of Britain staying in the Customs Union post-Brexit (which is basically staying in the EU) would actually hamper the UK economically.It’s just not Brexit, is it? The whole point is that the public voted to be able to go around the world and make the most of global trade opportunities. The Customs Union blocks that.YB
ybhere
18 Feb 2018
David Lenigas tweeted LGC Capital Completes $8 Million Bought-Deal Private Placement: [link] YB
