Real Estate Investments Zambia : REIZ – Announcement of results of the REIZ rights offer
December 12, 2022 at 03:23 pm IST
Share
In compliance with the Securities Act, No. 41 of 2016, and the Securities (Registration of Securities) Rules 1993 and pursuant to the Harmonized Listings Requirements of the Lusaka Securities Exchange ("LuSE") and further to the announcements issued on 20 October 2022 and 28 October 2022, REIZ announces the results of its Rights Issue relating to ordinary shares of ZMW1.00 per share concluded on 02 December 2022 on the LuSE, as follows:
Results
Pre-Rights Offer
Rights Offer
Post Rights offer
Total Ordinary Shares in Issue
79,791,562
139,635,233
219,426,795
Take up by existing Shareholders
79,791,562
5,123,140
84,914,702
Purchase of rights offer shares over the LuSE
9,991,175
9,991,175
New shares taken up by the Underwriter
120,015,000
120,015,000
Total
79,791,562
135,129,315
214,920,877
Commentary
REIZ is pleased to announce the successful results of the capital raising through a Rights Issue as stipulated in the Notice of Extraordinary General Meeting ("EGM"), issued on 23 September 2022. The capital raising has achieved the principal objective of raising the funds to finance the 50% cash settlement of the restructured USD12,005,930.83 Corporate Bond (ISIN: ZM2000000181) which was due on 26 November 2022.
REIZ is encouraged by the strong retail and institutional support and thanks the investing public for their participation in the Rights Offer.
Risk Warning
The investing public is advised that the share price in listed securities trading on the stock market may fluctuate and investors may not receive the amount invested in any trade of the shares.
By order of the Board
Louis Chilufya Pulu
Company Secretary and Finance Manager
Real Estate Investments Zambia plc published this content on 12 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 December 2022 09:52:00 UTC.
Real Estate Investments Zambia Plc specializes in developing and managing real estate assets. Rental income break down by type of assets as follows:
- commercial premises (59.4%);
- offices and residences (40.6%).
At the end of 2019, the group's portfolio, with a total leasing area of 48,887 m2, amounted, in market value, to ZMW 1,032.9 million broken down by type of assets into commercial premises (54.4%), offices (29.6%), residential complexes (9%), industrial sites (3.9%) and other (3.1%).