29 November 2010 – Lonzim placing
Lonzim, in which Lonrho is a 24.6% shareholder, has announced a placing to raise £4.98m at a price of 28p per share. Lonrho is to take up its entitlement in the placing, buying 4.38m new shares at a cost of £1.22m. The fund raising will enable Lonzim to exploit the continued growth opportunities in Zimbabwe and Lonrho will continue to benefit from these. Although the shares have moved up strongly from when they were tipped at 11.25p in issue 12, they remain a LONG TERM BUY.