Cambria Africa Regulatory News (CMB)

16 Apr 2008 07:00

LonZim PLC16 April 2008 16 April 2008 LonZim Plc ("LonZim" or the "Company") Acquires option to control communication technology company FMN Africa LonZim Plc (AIM: LZM), which was established for the principal purpose of makinginvestments in Zimbabwe and the Beira corridor in Mozambique, is pleased toannounce that it has signed an Option Agreement to acquire a 51 per cent.controlling shareholding in ForgetMeNot Africa Limited ("FMN Africa"). FMNAfrica, a subsidiary of ForgetMeNot Software Limited Hong Kong ("FMN"), is anewly incorporated communications technology company established to specialisein 2-way global messaging across Africa. FMN is one of the market leaders in global messaging solutions. Its MessageOptimiser (MO) software enables seamless messaging between SMS capable mobiletelephones, email addresses and instant messaging (IM) destinations. The Acquisition The immediate consideration of US$150,000, paid to FMN for the option, will beused by FMN to introduce the MO software into two large corporate customers inZimbabwe. Upon FMN Africa demonstrating the successful implementation of the MOsolution with two significant customers, LonZim has the option to acquire a 51per cent. stake in FMN Africa from FMN for a further US$400,000. If LonZim exercises the option, a further US$1,000,000 will then become payableby LonZim to FMN on 30 December 2008 in return for FMN granting FMN Africa anexclusive, perpetual, irrevocable and royalty-free licence to use, distributeand sub-licence FMN's Message Optimiser technology across Africa. Message Optimiser Message Optimiser (MO) uniquely provides global 2-way unified messagingcapability, including 2-way email, 2-way instant messaging (IM) and SMSmessaging to and from any mobile device and personal computer, irrespective ofdevice type, sophistication, carrier network, IM client or language. MOinstantly provides any mobile device with some of the features of high endsmartphones and devices without the need for any software download or change inuser behaviour. End users (both those who pre pay and those on a contract) canbecome up and running within seconds, using just their mobile phone and withoutany need for PC or Internet access. Importantly, MO forms the core of FMN's secure micro banking and micro creditservices, opening up huge opportunities in mobile banking and credit provisionto the massive "unbanked" sector of Africa. MO allows real time, remote accountset-up for a variety of financial transactions including debit, credit, billpayment, top-ups and money transfers using just the mobile phone withcomprehensive automatic audit and tracking of all transactions andcommunications. Deal Rationale LonZim and FMN Africa intend to develop the MO technology across the businessand private sectors in Zimbabwe and other countries in southern Africa. This acquisition and the licence agreement with FMN are intended to acceleratethe development and distribution of the technology throughout the Africancontinent and FMN Africa will appoint Zimbabwe based IT and telecoms company,Celsys Limited (an existing LonZim subsidiary), as its regional partner. Celsyshas the capability to deliver competent technical support and high levelcontacts in the telecommunications and financial sectors in the region, and willbe responsible for beginning the roll out of the technology in Africa fromZimbabwe. The intended clients for FMN Africa are primarily carriers and financial serviceproviders who wish to provide high value sophisticated unified messaging andbanking facilities to all of their customers without the need to expend onupgrading devices or infrastructure or increasing overheads. David Lenigas, Executive Chairman of LonZim commented: "Message Optimisation is an innovative, market driven solution that will bebeneficial to many phone users throughout Africa. The system permits a normal,low cost GSM handset to be able to send and receive emails, transfer funds andcarry out services otherwise only available at the most affluent end of themarket. "FMN Africa strategically complements LonZim's previous investment in Celsys andfinancial services technology company, Paynet. These businesses are alreadysuccessful in the current economic environment, demonstrating their strength andpotential, and are well positioned to rapidly benefit from an economic upturn inZimbabwe. With relatively low overheads in Zimbabwe LonZim plans to launch apan-African technology company that will accelerate communications and commerceacross Africa." Paul Roberts, co-founder and Director of FMN commented: "We are very pleased to be working with LonZim in distributing our patentpending Message Optimiser mobile technology in Africa and, coupled with LonZim'sexcellent distribution and reach, FMN Africa has the capacity to provide amassive leap forward in bringing highly advanced digital communications andaccess to comprehensive financial services to the entire African continent. Thisagreement with LonZim is consistent with our market entry strategy of workingwith companies who have in depth local knowledge in the territories in which weoperate." ENQUIRIES LonZim Plc +44 (0)20 7016 5105 David Lenigas, Executive Chairman +44 (0)7881 825 378Geoffrey White, Chief Executive Officer +44 (0)7717 307 308Emma Priestley, Executive Director +44 (0)7867 785 177 Pelham Public RelationsCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297903James MacFarlane +44 (0) 20 7743 6375 +44 (0) 7841 672831 Collins Stewart Europe: NOMADHelen Goldsmith +44 (0) 20 7523 8350 NOTES TO EDITORS About LONZIM: LonZim Plc ("LonZim") is a company focused on developing and acquiring businessopportunities primarily in Zimbabwe and the region of Mozambique known as theBeira Corridor, which links Zimbabwe to the coast. LonZim was listed on the AIMmarket of the London Stock Exchange on 11th December 2007 after raising £29.16million. LonZim is 20 per cent. owned and managed by Lonrho Plc (AIM: LONR) acompany strategically focused on the development of business opportunities ininfrastructure, transportation, support services and natural resourcesthroughout Africa. Since listing in December 2007, LonZim has invested in or acquired control of: Celsys Limited www.celsys.co.zwGardoserve (Private) Ltd t/a Millpal Chemicals Aldeamento Turistico de Macuti, SARL., a company owning land in central Beira onthe Mozambique coast Paynet Limited About FMN: ForgetMeNot Software is a privately held company headquartered in Hong Kong withrepresentation in USA and Asia and plans for setting up in Europe in the nearfuture. The company provides a range of scalable Unified Messaging services andtechnologies to Carriers, Enterprises and Financial Institutions worldwide whowish to capitalise on the ubiquity of the mobile phone and its capacity toenhance and empower individuals and institutions. Its patent pending softwareallows truly seamless Unified Messaging and transaction capability usingindustry standard protocols. This information is provided by RNS The company news service from the London Stock Exchange