RE: tax...8 Jun 2016 09:26
morning JL. yes like the results but still uncertainty to the outcome zamhatch.
If the settlement consideration is paid in cash, this will require a payment of USD16.25 million and the US Dollar equivalent of ZMW24.8 million and EUR3.3 million.
If the settlement consideration is met by the issue of new Zambeef shares, the number of which will be based on the share price at the time of settlement, this will result in a dilution of existing Zambeef shareholders.
The Zambeef Board will, in due course, advise shareholders as to how it proposes to pay the settlement consideration, and will call a meeting of shareholders in order to request the necessary approval.
Both Zam Chick and Zamhatch are important parts of Zambeef's core strategic operational strategy, and are expected to be significant contributors to future Group profitability.