Seed-Co Ltd to retain only 26% of Seed-Co International to focus on African market
This move by the ‘African Seed Company’ aims to increase shareholders wealth by focusing on the continent as its offering huge growth prospects.
Seed Co Limited in a circular to shareholders on Tuesday said in order to unlock shareholder value and position the continental operations for growth, the Board is proposing to partially-unbundle 71 percent of Seed Co International.
The Group has over the years expanded into the region establishing itself as the “African Seed Company” and in the process flying the Zimbabwean flag with pride.
In recent years, the African Seed Industry has however started witnessing increased forays by multinational seed industry players attracted by the growing socio-economic stability on the continent.
These developments, on the continent now widely viewed as the last growth frontier, demand that the Group adopt and develop strategies to develop its turf and continue pursuing its “African Seed Company” vision leveraging its strong brand and in-depth knowledge of Africa.
It is against this background that the Company in a quest to defend the significant investment already deployed announced in a circular to Shareholders that post the proposed Private Placement to be carried out immediately after the unbundling, Seed Co Limited will retain 26 percent shareholding in Seed Co International.
“If approved by Shareholder, the Partial Unbundling will be achieved through Dividend-in-Specie distribution to all shareholders of…
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Seed Co Limited (SEED.zw)Share price: 22,995.96 ZWL cents ▼ (-4.04 | -0.02% – 28/03/23)
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