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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lonzim | LSE:LZM | London | Ordinary Share | IM00B28CVH58 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 17.75 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
03/7/2009 12:16 | LonZim Takes to the Skies Thursday, 02 July 2009 19:38 LONZIM PLC says it will commence operations for a Fly540 airline in Zimbabwe to service domestic and regional markets. The company said its flights are scheduled to start from September. The London Stock Exchange (LSE) junior announced that FLY540 is being rolled out across Africa with local partners in each country to service the domestic and regional African markets. The company did not name its local partner in Zimbabwe in the venture. Fly540 is a Lonrho PLC-owned airline on lease to LonZim. Fly540 is set to offer Air Zimbabwe competition for market share in a move that could see other airlines setting up shop in the country. Pioneer Airlines (PA), a planned airline project by transport and logistics group Pioneer Africa Corporation, suffered a still birth after government did not grant the group an operating licence a few years ago. Mid Airlines also failed to take off in Zimbabwe in 2003. Until recently, government had been very protective of the aviation sector and happy to see Air Zimbabwe have a larger share of the market unfettered. Meanwhile LonZim stands accused by AMB Ireland, a 22,12% shareholder in the company of gross corporate governance shortfalls because of its business reliance on Lonrho. Miffed by apparent corporate governance concerns and poor investments at LonZim, AMB called for an Extraordinary General Meeting (EGM) to remove the Alternative Investments Market listed company's four directors off the board but the requisition to convene an EGM has been ignored. Should LonZim convene the meeting, AMB Ireland will seek to remove four directors from the board and reconstitute the board to pave way for the sale of the company's "non profitable and start-up" investments. In April, AMB Ireland sought an EGM through the registered owner of its LonZim shares, Pershing International Nominees Limited but LonZim is seemingly ignoring the demands. LonZim said then that the "EGM would most likely be held in June" but no date has been set yet. "AMB Ireland does not believe it is right and proper for the board to ignore a duly served shareholder requisition in this way," the company said. Damille Partners IV, a 6,46% shareholder in LonZim, has also thrown its support behind AMB Ireland and will support all its resolutions. AMB capital alleges there is a blatant conflict of interest on the part of LonZim directors. The financial services firm says of the £18,96 million capital that LonZim deployed in investments, £9,78 million, approximately 51,6% of the total capital, has been invested in related party transactions or transactions involving Lonrho and or its employees, "either immediately or in the future." The company cited Lonzim's acquisition of Lonrho shares in a private placement without shareholder approval as another case in point. The AIM company also acquired Blueberry International Services Limited from Lonrho and the lease by LonZim to Fly 540 Uganda, a Lonrho subsidiary, of the two aircraft purchased by LonZim in October 2008. LonZim also bought a 79% shareholding in Aldeamento Turistico de Macuti, SARL (ATdM), the holder of a Beira property on which a hotel will be developed, which will be "operated and managed by an entity owned by Lonrho plc" as announced on 20 February 2008. | knitcraft | |
02/7/2009 21:05 | Topped up again, a modest 761 shares ;-) but £300 is £300. Also bought 10k Lonrho ..... as an offset to the risk here ! Not sure i have done a good deal there !. | tenapen | |
30/6/2009 11:08 | Jiggery pokery in Zim | thanksamillion | |
30/6/2009 10:36 | tenapen I read the article as just a re-hash of old news. | thanksamillion | |
29/6/2009 14:47 | RNS Number : 6850U LonZim PLC 29 June 2009 29th June 2009 LonZim plc ('LZM' or 'the Company') Refurbishment of Leopard Rock Hotel in Zimbabwe LonZim ( AIM : LZM ) a company focused on investing in Zimbabwe to support and benefit from economic recovery is pleased to announce that it has appointed Lonrho Hotels to manage the refurbishment and operations of the iconic Leopard Rock Hotel in Zimbabwe. Cont.... The independent directors (Paul Heber and Paul Turner) consider, having consulted with the Company's nominated adviser WH Ireland Ltd, the contracts to be fair and reasonable in so far as shareholders are concerned. End. I'm all for keeping things in house so to speak ! but im hoping LZM got a fair deal and NOT the other way around (Lonrho Hotels) !. The markets liked it which is all that matters in the long run !. | tenapen | |
28/6/2009 16:47 | :-( Back to 35p next week !. I have few pounds for a top up but i always go with the saying 'do not gamble what you can not afford to loose' although LZM is becoming less of a gamble by the week, IMO. | tenapen | |
24/6/2009 20:10 | Disappointing for me that they decided to sell. When they decided that they could not gain control of the Board i had hoped they would stay around for the ride !. I guess a profit is a profit. | tenapen | |
24/6/2009 13:26 | Well thats Damille Partners IV out of the equation, now who bought the shares? "all wind and water" comes to mind. | thanksamillion | |
22/6/2009 16:05 | I Put in a buy order last night for 1k @ 37p , not filled. | tenapen | |
22/6/2009 10:40 | Well something's going on, up 3.5p or 10%. Only 50k volume. | thanksamillion | |
20/6/2009 20:22 | Ok - I got my knickers in a twist. You were talking about LonZim's Lonrho holding and I wrote about Lonrho's LonZim holding. | david77 | |
20/6/2009 18:28 | david77, The interims were up to 31 March 09. But on the 30 April LZM released this RNS, 30 April 2009 LONZIM PLC ('LonZim' or the 'Company') Disposal of Shares LonZim announces that it has sold 40.5 million ordinary shares in Lonrho plc, the AIM Listed African focussed investment Company, at a price of 7 pence per share for a total consideration of £2.83m. The proceeds of the disposal will be used to pursue LonZim's investing strategy and for general working capital purposes. Based on the average purchase price of these shares the net profit on the disposal is approximately £807,000. Following this disposal LonZim's holding in Lonrho plc is 19.18 million ordinary shares representing 2.51 % of the issued share capital. / / / / / / / / / / / / / Zimbabwe's Prime Minister Morgan Tsvangirai has been forced to cut short an event where he was addressing Zimbabwean exiles in the UK. Mr Tsvangirai was speaking before more than 1,000 exiles at London's Southwark Cathedral, whom he urged to return home to rebuild the country. Zimbabwe PM jeered by UK exiles | tenapen | |
20/6/2009 09:00 | From the latest Lonrho Interim report received a couple of days ago by holders with shares in Crest a/cs "Other Investments .... LonZim Plc ("LonZim") (24.53% holding) ...." | david77 | |
20/6/2009 02:23 | Therefore evey penny Lonhro shares go up or down it worth/cost £191,800 to Lonzim | southbourne | |
19/6/2009 15:17 | With Lonrho flying after being tipped ! i had thought that LZM would have edged up as we still hold ... Quote; "LonZim's holding in Lonrho plc is 19.18 million ordinary shares representing 2.51 % of the issued share capital" | tenapen | |
18/6/2009 19:47 | Taken from Thanksamillion's link, Quote; "The deflation seen since March marks a stunning turnaround for an economy that just six months ago had world-record hyperinflation estimated in multiples of billions". I'm Not sure if its still happening, southbourne. | tenapen | |
18/6/2009 14:29 | when is the EGM ? | southbourne | |
16/6/2009 21:16 | PS Celsys loses some of its recent gains | tenapen | |
16/6/2009 21:11 | Growth predictions Finance Minister Tendai Biti was speaking at the World Economic Forum on Africa in Cape Town. "I think we will be able to achieve a growth rate of at least 6%, although conservatively it will be 4% in 2009," he told journalists. The fact that the government was able to address Zimbabwe's economic problems "without any cent from anyone", he added, showed that "we can do it with or without huge financial resources". Zimbabwe's economy has been shrinking for years. It contracted by 6.1% in 2007, according to the International Monetary Fund. | tenapen |
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