JOHANNESBURG - The Board of LonZim, which last week announced that it has raised over 1 million gross through new ordinary shares, has maintained its commitment to the rebuilding of Zimbabwe. “The signs of economic growth in Zimbabwe are now tangible. LonZim is well placed with its established portfolio of businesses, purchased over the past two years, to be a part of the economic recovery underway in Zimbabwe. The LonZim businesses have retained quality staff, maintained their operations and been prepared for recovery and are now focusing on substantial growth for 2010, said executive chairman, Dave Lenigas, in a statement to The Zimbabwean.
LonZim placed 4,255,525 new ordinary shares of 0.01 pence each in the share capital of the Company at 27.5 pence per Placing Share.
The Placing Shares have been unconditionally placed unless they are admitted to trade on AIM.
The Placing Shares will together represent approximately 12 per cent of the company’s enlarged issued share capital and the total number of shares in issue following completion of the Placing will be 36,331,525.
The funds raised by the company will help to ensure that companies investing in LonZim have access to working capital to continue to run their businesses in a commercial and professional manner.
Post published in: Economy