REIZ – Announcement of results of the REIZ rights offer

By Published On: December 13th, 2022Categories: Corporate announcement, Share adjustments

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


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

First Issued on: 09 December 2022

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