Newsletter September 2023
As Salaamu Alaykum
We trust you are well.
We are excited to present the latest edition of our investor newsletter, your trusted source on what is happening at Al Mabroor.
With many exciting investment opportunities coming across our desk, we remain dedicated to providing you with the best and safest investment products to suit your needs.
Our Annual General Meeting will be held at Beefcor on the 14th of October 2023. We would like to start proceedings at 11 am and should hopefully be done by 3 pm. We would like to invite all our Al Mabroor Agri investors to attend the event. Beefcor is situated 50 minutes from OR Tambo International. For all our Durban and Cape Town investors that would like to attend, Al Mabroor will arrange a bus leaving OR Tambo at 9:30 am and the bus should be back at the airport at 16:30. Beefcor Feedlot Location on Google Maps To RSVP to the AGM please complete this form by the 30th September 2023. Beefcor is one of the jewels in the Al Mabroor Agri Fund and we are keen to share the farming experience with our investors. We will serve a light lunch around 1 pm. The following points will be discussed and addressed at the AGM:
Background of the Al Mabroor Agri Fund
General overview of the agricultural landscape in South Africa
Current assets and projects in Al Mabroor Agri
Vertical integration of beef and lamb production
Jaco Odendaal from CROWE auditors will be at the event to discuss the Annual Financial Statements (AFS). Any questions regarding the AFS can be send to email@example.com before the 9th of October 2023. These questions will be answered at the event.
The demand for lamb, especially at export level, is ever increasing. Due to various requests from investors, Al Mabroor decided to extend the cut-off date for our sheep raise to 22 September 2023.
For more information, please visit https://www.almabroorprojects.com/invest, contact your financial advisor or contact us on 021 2000 717
We are making good progress in Evander in opening the new diesel depot. Kindly see some pictures of the site. We expect the site to be fully operational by the middle of October 2023.
There was an increase in sales of 11% from July to August and sales volumes for September is looking positive. We have also signed up 2 new large wholesale clients and expect sales to increase significantly once Evander opens.
On a disappointing note, we must inform investors that we have regrettably cut all ties with Morgan Beef. We had a symbiotic relationship with Morgan Beef over the past 4 years that was mutually beneficial for both parties.
This relationship however soured when Morgan Beef failed to make payments to Al Mabroor Agri for cattle delivered to the Morgan Beef abattoir. These animals were slaughtered and sold, but Morgan Beef failed to make payment to Al Mabroor Agri. The Board of Al Mabroor Agri was left with no other option but to proceed with a liquidation application against Morgan Beef.
We trust that a speedy and fair resolution will be reached soon.
Thank you once again for your continued support. We look forward to bringing you more compelling content in the future.
Secure your investment, the Shariah Compliant Way.
Al Mabroor Team