Investor Lonrho maintains 24.61% interest by buying 4,384,011 shares
By Devika Patel
Knoxville, Tenn., Nov. 29 - Lonzim plc said it completed a private placement of shares. It raised £4.99 million.
The company sold 17,813,944 ordinary shares at 28p each, a 3.45% discount to the Nov. 26 closing share price of 29p. Lonrho plc maintained its 24.61% shareholding by buying 4,384,011 shares for £1.23 million.
Proceeds will provide working capital for the group's existing businesses and allow the company to continue implementing its investment strategy.
Isle of Man, United Kingdom's LonZim is an investment company with a diverse portfolio of investments in Zimbabwe and the Beira Corridor in Mozambique,
| Issuer: | Lonzim plc
|
| Issue: | Ordinary shares
|
| Amount: | £4,987,904
|
| Shares: | 17,813,944
|
| Price: | 28p
|
| Warrants: | No
|
| Investor: | Lonrho plc (for £1,227,523)
|
| Settlement date: | Nov. 29
|
| Stock symbol: | London: LZM
|
| Stock price: | 28.5p at close Nov. 29
|
| Market capitalization: | £10.54 million
|
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