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Pin to quick picksCambria Africa Regulatory News (CMB)

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Acquisition

13 Jan 2009 12:54

RNS Number : 5538L
LonZim PLC
13 January 2009
 



13th January 2009

LonZim Plc

 LonZim acquires property in Harare from Kingdom Bank

LonZim Plc ("LonZim") which has been established for the principal purpose of making investments in Zimbabwe and the Beira corridor in Mozambique, today announces that it has entered an agreement to acquire 100 per cent. of the issued shares in Medalspot (Private) Limited ("Medalspot") from Kingdom Bank Limited a Zimbabwean commercial bank. Medalspot holds the title to the property currently occupied by the security printing division of Celsys Limited, a Zimbabwe listed company in which LonZim owns a 60 per cent. stake. Medalspot holds no assets other than the property and has never traded.

 

The entire issued share capital of Medalspot has been acquired at a price of US$950,000 and the current independent market valuation of the property is US$1,536,000. LonZim has funded this purchase out of its cash resources. The property, situated in Harare, comprises two combined industrial stands of 6,600 m2 with a total of 2,650 m2 of offices and factory space.

 

David Lenigas, Executive Chairman of LonZim Plc commented:

"The acquisition of Medalspot is strategically important, as it enables us to secure permanent industrial accommodation for Celsys Print with sufficient room for the expansion that we anticipate in the years ahead. This further adds to our increasing portfolio of quality properties in Zimbabwe."

ENQUIRIES

LonZim Plc

+44 (0)20 7016 5105

David Lenigas, Executive Chairman 

+44 (0)7881 825 378

Geoffrey White, Chief Executive Officer 

+44 (0)7717 307 308

Emma Priestley, Executive Director 

+44 (0)7867 785 177

Pelham Public Relations

Charles Vivian 

+44 (0) 20 7743 6672

+44 (0) 7977 297903

James MacFarlane

+44 (0) 20 7743 6375

+44 (0) 7841 672831

Collins Stewart Europe: NOMAD

Helen Goldsmith 

+44 (0) 20 7523 8350

NOTES TO EDITORSAbout LONZIM: LonZim Plc ("LonZim") is a company focused on developing and acquiring business opportunities primarily in Zimbabwe and the region of Mozambique known as the Beira Corridor, which links Zimbabwe to the coast. LonZim was listed on the AIM market of the London Stock Exchange on 11th December 2007 after raising £29.16 million. LonZim is 20 per cent. owned and managed by Lonrho Plc (AIM: LONR) a company strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources throughout Africa.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQUOVURKARAAAR
Date   Source Headline
8th May 20127:00 amRNSListing on ZSE and Acquisition of Celsys Limited
27th Apr 20128:23 amRNSHolding(s) in Company
20th Apr 20129:05 amRNSHolding(s) in Company
3rd Apr 20127:00 amRNSAppointment of Chief Financial Officer & Director
23rd Mar 20127:00 amRNSCambria appoints senior hotels executive
19th Mar 20123:07 pmRNSPress Speculation re. Celsys Ltd.
16th Mar 20123:21 pmRNSCelsys Ltd
16th Mar 20127:00 amRNSAcquisition of the Castle at Leopard Rock
14th Mar 20127:00 amRNSChange of web address, head office and secretary
12th Mar 20129:17 amRNSLoan Facility
24th Feb 20123:49 pmRNSResult of AGM, board changes and change of name
31st Jan 201211:14 amRNSNotice of AGM - Amendment
31st Jan 20127:00 amRNSNotice of AGM
9th Jan 201212:39 pmRNSNotification of interests in shares
5th Jan 201211:48 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
1st Dec 20114:24 pmRNSDirector's dealing
11th Nov 20115:49 pmRNSAnnual Financial Report
2nd Nov 201111:09 amRNSNon Executive Director
28th Oct 201111:53 amRNSNotice of Results
27th Oct 20115:11 pmRNSHolding(s) in Company
4th Oct 20117:00 amRNSDisposal of Aldeamento Turistico de Macuti SARL
30th Sep 20115:00 pmRNSTotal Voting Rights
27th Sep 20112:58 pmRNSHolding(s) in Company
16th Sep 20117:00 amRNSIssue of shares
10th Aug 201112:13 pmRNSNotification of Interest in Shares
4th Aug 201111:05 amRNSHolding(s) in Company
3rd Jun 20114:00 pmRNSHolding(s) in Company
2nd Jun 20114:19 pmRNSHolding(s) in Company
2nd Jun 201110:11 amRNSHolding(s) in Company
1st Jun 20116:16 pmRNSHolding(s) in Company
1st Jun 20116:12 pmRNSHolding(s) in Company
1st Jun 20116:07 pmRNSHolding(s) in Company
24th May 20117:00 amRNSInterim Results
6th May 20115:32 pmRNSHolding(s) in Company
6th May 20115:30 pmRNSHolding(s) in Company
6th Apr 201110:08 amRNSDirector's Dealing
18th Jan 201110:30 amRNSForgetMeNot Africa Limited Update
31st Dec 201011:00 amRNSTotal Voting Rights
21st Dec 201011:43 amRNSResults of Annual General Meeting
13th Dec 201012:48 pmRNSCompletion of £4.98 million Placing
1st Dec 20107:00 amRNSForgetMeNot Africa Update
29th Nov 20107:00 amRNSPlacing of £4.98 million
26th Nov 20103:28 pmRNSNotice of Annual General Meeting
19th Nov 20105:58 pmRNSResults for the year ended 31 August 2010
11th Nov 20109:23 amRNSNotice of Results
6th Oct 20107:00 amRNSLonZim Plc telecoms division sign agreements
28th Sep 20103:20 pmRNSCelsys Ltd Update
1st Sep 20101:30 pmRNSAppointment of GM and Planning for Growth
19th Jul 20105:19 pmRNSHolding(s) in Company
13th Jul 20101:23 pmRNSLonZim telecoms division agreement with ECONET

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