Cambria Africa Regulatory News (CMB)

11 Dec 2007 08:00

LonZim PLC11 December 2007 This announcement and the information contained herein is restricted and is notfor publication, release or distribution in whole or in part to US persons or inor into the United States, Canada, Australia, the Republic of South Africa, theRepublic of Ireland or Japan. This announcement is an advertisement and not aprospectus. This announcement is not an offer of securities for sale in the United States orin any other jurisdiction. The shares of LonZim PLC ("LonZim" or the "Company")have not been and will not be registered under the US Securities Act of 1933, asamended (the "Securities Act") and may not be offered or sold in the UnitedStates unless registered under the Securities Act or pursuant to an exemptionfrom such registration. The Company has not been and will not be registeredunder the US Investment Company Act of 1940, as amended. There will be nopublic offering of the shares in the United States. 11th December 2007 LonZim Plc First day of dealing on AIM The Board of LonZim Plc ("LonZim" or the "Company") today announces completionof the placing of 29,160,000 ordinary shares at 100 pence per Ordinary Share,raising gross proceeds of £29.16 million. In addition the Company has issued, under the terms of the Management ServicesAgreement, 7,290,000 million shares (representing 20% of the enlarged sharecapital of LonZim) to Lonrho Plc ("Lonrho")in consideration of Lonrho and itssubsidiaries' agreement not to compete with the activities of the Company inZimbabwe. All of the 36,450,000 Ordinary Shares of the Company in issue have today beenadmitted to trading on AIM (Code: LZM). Renaissance Capital Limited acted as sole bookrunner and joint broker for theplacing. Collins Stewart Europe Limited is the nominated adviser and a jointbroker to the Company. LonZim LonZim has been established to make investments in Zimbabwe and the Beiratransport corridor in Mozambique. While LonZim will not have a particularsectoral focus, utilising the investment skills of the Lonrho management teamand their advisors, it will seek to identify individual companies in sectorsbest positioned to benefit should there be radical improvements in Zimbabwe'seconomy. The Company may make investments in the tourism, accommodation,infrastructure, transport, commercial and residential property, technology,communications, manufacturing, retail, services, leisure, agricultural andnatural resources sectors. LonZim may also make investments in businesses outside Zimbabwe that have amajority of their operations within Zimbabwe. The Company will also look intoexpanding businesses and brands currently owned by Lonrho or in which Lonrho hasan interest in Zimbabwe. LonZim will only be able to achieve its investmentobjective in the event the Zimbabwean economy radically improves. Management Lonrho, the AIM traded conglomerate with a structured portfolio of businessesthroughout Africa, has been appointed by the Company to provide managementsupport services on the terms of a management services agreement. The Lonrhomanagement team has a wealth of skills and expertise in operating in Africa andan extremely successful track record in operating under difficult conditions onthe continent. The management team is well positioned to provide LonZim withspecialist advice needed to invest successfully under conditions characteristicof Zimbabwe at present. David Lenigas, Executive Chairman of LonZim said today: 'We are pleased to have successfully raised the capital and we are now activelypursuing some of the significant opportunities that we believe exist inZimbabwe.' ENQUIRIES Lonrho Plc / LonZim Plc +44 (0)20 7016 5105David 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 PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297903James Macfarlane +44 (0) 20 7743 6375 +44 (0) 7841 672831 Renaissance Capital: Sole BookrunnerHasnen Varawalla +7 (495) 258 7965Simon Matthews +44 (0) 20 7367 7958 Collins Stewart Europe: NOMADHelen Goldsmith / Hugh Field +44 (0) 20 7523 8350 NOTES TO EDITORS About LONRHO: Lonrho Plc ("Lonrho") is an expanding conglomerate that is rapidly growing asuccessful business throughout Africa. Lonrho is listed on the London AIM stockexchange (LONR). Lonrho is strategically focused on the development of businessopportunities in infrastructure, transportation, support services and naturalresources. Lonrho has over 20,000 shareholders and substantial institutionalbacking to support its mandate to build a profitable business that plays afundamental role in the development of the African economy. Since 2006, Lonrho has invested in or acquired control of: • Hotel Cardoso - www.hotelcardoso.co.mz (retained) • Lonrho Mining - www.lonrhomining.com • Luba Freeport - www.lubafreeport.com • Fly540 - www.fly540.com • Norse Air - www.norseair.co.za • Swissta Holdings - www.swissta.com • SA Independent Liner Services • Bytes and Pieces • Celsys Limited - www.celsys.co.zw Investors may only subscribe for or purchase any shares referred to in thisannouncement on the basis of information in the admission document (the "Admission Document") published by the Company in connection with the initialpublic offering of ordinary shares (the "Offering") and the admission of itsordinary shares (the "Shares") to trading on the AIM market of the London StockExchange. This announcement has been prepared by and is the sole responsibility of theCompany. This announcement is an advertisement and not a prospectus and is notan offer to sell or a solicitation of any offer to buy any securities in theUnited States or in any other jurisdiction. Neither this document nor anything contained herein shall form the basis of, orbe relied upon in connection with, any offer or commitment whatsoever in anyjurisdiction. Any offer to acquire securities pursuant to the Offering will bemade, and any investor should make their investment, solely on the basis ofinformation that is contained in the Admission Document. This announcement is based upon information which the Company considersreliable, but no representation or warranty, express or implied, is given by oron behalf of the Company, Lonrho Plc, Collins Stewart Europe Limited ("CollinsStewart") or Renaissance Capital Limited ("Renaissance") or any of such persons'affiliates or their respective members, directors, officers or employees or anyother person that it is accurate and complete and nor should it be relied uponas such. The information in this announcement is subject to change and none ofthe Company, Lonrho, Collins Stewart or Renaissance has any obligation to updatethis document or to correct inaccuracies or omissions which may become apparent. All investments are subject to risk. The value of investments may fluctuate.Results achieved in the past are no guarantee of future results. An investmentin the Company is speculative and involves a substantial degree of risk,including the risk of total loss. Prospective investors are advised to seekexpert legal, financial, tax and other professional advice before making anyinvestment decision. Factual statements, statistical data, information regarding actual and proposedissues contained in this document, views expressed, and projections, forecastsor statements relating to various matters referred to in this document do notnecessarily represent the Company's, Lonrho's or Renaissance's own assessment orinterpretation of information. Prospective investors should not treat thecontents of this document as advice relating to legal, taxation or investmentmatters, and are to make their own assessments concerning these and otherconsequences of any investment, including the merits of investing and the risks. Collins Stewart and Renaissance, which are each authorised and regulated in theUnited Kingdom by the Financial Services Authority, are each acting for theCompany and no-one else in connection with the Offering and will not beresponsible to anyone other than the Company for providing the protectionsafforded to their clients or for providing advice in relation to the Offering,this document or any other matter. This press release does not constitute, and may not be used for the purposes of,an offer or an invitation to subscribe for Shares by any person in anyjurisdiction in which (i) such offer or invitation is not authorized; or (ii) inwhich the person making such offer or invitation is not qualified to do so; or(iii) to any person to whom it is unlawful to make such offer or invitation. Notice to prospective investors in the UK This announcement is directed only at persons in the United Kingdom who are: (i)persons having professional experience in matters relating to investments whofall within the definition of "investment professionals" in Article 19 (5) ofthe Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or(ii) high net worth bodies, corporate, unincorporated associations andpartnerships and trustees of high value trusts as described in Article 49 (2) ofthe Financial Services and Markets Act 2000 (Financial Promotion) Order 2001.Persons within the United Kingdom who receive this announcement (other thanpersons falling within (i) and (ii) above) should not rely on or act upon thiscommunication. Forward Looking Statements Certain statements contained in this document, including those relating to theOffering may be forward-looking statements. By their nature, forward-lookingstatements involve a number of risks, uncertainties and assumptions that couldcause actual results or events to differ materially from those expressed orimplied by the forward-looking statements. These risks, uncertainties andassumptions could adversely affect the outcome and financial effects of theplans and events described herein. None of Renaissance, Collins Stewart, Lonrho or the Company undertake anyobligation to update or revise any forward-looking statements, whether as aresult of new information, future events or otherwise. A prospective investorshould not place undue reliance on forward-looking statements, which speak onlyas of the date of this document. --oo-- This information is provided by RNS The company news service from the London Stock Exchange