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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 |
---|---|---|---|
25/2/2010 15:16 | Potentially look at SLE instead. Currently 22p, mid 2010 price target 60p plus. | oil and gas | |
25/2/2010 13:19 | I have added an investment warning about the forthcoming Indigenisation legislation to the thread header. | oil and gas | |
25/2/2010 12:45 | True, many Zimbabwean do not have enough money to buy food for the table never mind investing in shares. -------------------- Main Zimbabwe Union Says Indigenization Will Damage Economy, Cost Jobs Zimbabwe Congress of Trade Unions Secretary General Wellington Chibebe said foreign firms could relocate to other countries if indigenization regulations recently gazetted take effect in March as planned Gibbs Dube | Washington Chibebe told VOA Studio 7 reporter Gibbs Dube that forcing foreign-owned companies to cede a controlling stake in their enterprises to Zimbabweans will only enrich the elite aligned with President Robert Mugabe's ZANU-PF party and his supporters who plundered the agricultural sector starting in 2000. Cont.... | tenapen | |
25/2/2010 12:42 | Risk there certainly is in Zimbabwe, listed shares however are a little difficult to "occupy". I have no objections to Indigenous Zimbabweans buying shares up to 51%, the same as anyone else, if they want to part with the cash in what would be a risky bet then the best of luck. | thanksamillion | |
25/2/2010 12:15 | The steady stream of buying would suggest that 'Yes' it is worth investing in Zimbabwe. As for the politics ! | tenapen | |
25/2/2010 11:41 | Kind of makes it impossible to invest in LZM. | kvrr | |
25/2/2010 11:24 | Zim Indigenisation Law Comes into Force Monday by Own Correspondent Thursday 25 February 2010 HARARE - Indigenisation Minister Saviour Kasukuwere on Wednesday told ZimOnline that regulations to force foreign firms to offload controlling stake to local blacks will come into force next Monday, appearing to brush aside objections to the controversial rules by Prime Minister Morgan Tsvangirai. Under the regulations announced by Kasukuwere in line with an Indigenisation and Economic Empowerment Bill passed by the then ZANU PF-controlled Parliament in 2007 and signed into law by President Robert Mugabe in March 2008, foreign owned firms will be required to cede 51 percent of shareholding to indigenous Zimbabweans within the next five years. Tsvangirai has opposed the laws saying they were invalid because they were never discussed and adopted by Cabinet, while business leaders have been lobbying government to shelve implementation of the regulations they say will only help reinforce perceptions of Zimbabwe as a high political risk investment destination. But Kasukuwere was adamant implementation of the regulations would go ahead as planned. He said: "Consultations are on going but the Act will be effective. The Act will become effective March 1 as already stated. We can't have gatherings every time to finalise this matter. Consultations will always be there, but the law will become effective Monday." Under the empowerment regulations foreign-owned businesses operating in Zimbabwe, including banks, mines and factories will be forced to sell a majority stake to locals by March 2015. The regulations provides for foreigners to be compelled to sell stake to local Zimbabweans but are silent on where impoverished locals will get money to pay for stake in large mines and industries. Many had hoped the law and other controversial laws including repressive press and security laws to be repealed following formation of the power-sharing government. Revival of the empowerment laws has sparked fears among business of a repeat of in industry of a repeat of the chaos that befell agriculture after a similar government programme to empower blacks saw white-owned commercial farms seized without compensation. - ZimOnline | kvrr | |
25/2/2010 10:43 | I suspect we are about to take off. I could be wrong, but the chart looks good. | thanksamillion | |
23/2/2010 13:24 | AH yes I remember now! | thanksamillion | |
23/2/2010 11:09 | Thanks for the replies re September 08. Just to correct something (completely off-topic): Norman Hunter was "bite yer legs". Billy's style was more "break yer legs". BB | billybremner | |
22/2/2010 20:26 | Just looking around LONR site to see that they have, to have a Agribusiness in Zimbabwe !. New agri-processing facilities being developed in Malawi, Mali, Zimbabwe, Angola. Fish and meat exports to Europe from Namibia. Published : 26/11/2009 15:46:52 | tenapen | |
22/2/2010 11:54 | I think it had more to do with a large holder HAVING to raise cash in the middle of the credit problems. Most of these were picked up by another party who went on to attempt(failed) to obtain the whole company at a low price. Billy "bite yer leg" Bremner, I remember him. | thanksamillion | |
21/2/2010 18:42 | Hi BillyBremner (great name, great player, great team) IMO it was the results of the election or none results of the election that lead to the 'power shareing agreement'. That tipped the balance for the LZM institutional investors to sell out or re-jig their holdings. The shares fell through 100p on the 19th Sept 08 and arond that time there was four 'Holdings in company' announcements with Lansdowne selling out. Wikipedia says, "In late 2008, problems in Zimbabwe reached crisis proportions in the areas of living standards, public health (with a major cholera outbreak in December) and various public considerations. 100p per share and a Market cap of £29m was a bit rich considering the many hurdles to overcome, short / medium and long term. My view only and i would also welcome other's opinions on the fall and state of play as we find it now. Regards. | tenapen | |
21/2/2010 17:12 | Pardon my ignorance but what was the reason behind the share price collapse from 100p around September 08? Thanks. B | billybremner | |
19/2/2010 12:19 | Zimbabwean Black Empowerment Group Vows to Enforce Indigenization Rules Gibbs Dube | Washington 17 February 2010 The Affirmative Action Group said starting next month it will go from factory to factory in urban areas to enforce controversial indigenization regulations which Prime Minister Morgan Tsvangirai has denounced. Members of Zimbabwe's largest black empowerment organization, the Affirmative Action Group, say say they intend to help the government enforce recently published regulations for black majority control of companies. The group announced that beginning in March it will move from one factory to another in urban areas to enforce the controversial regulations, which Prime Minister Morgan Tsvangirai has denounced as counterproductive to the country's efforts to attract investors to rebuild the economy. The law requires companies to cede at least 51 percent of their shareholding stake to black Zimbabweans. Affirmative Action founding member and former president Matson Hlalo was critical of the move, telling VOA Studio 7 reporter Gibbs Dube that it was an attempt by ZANU-PF-aligned empowerment advocates to seize white assets. James Maridadi, a spokesman for Mr. Tsvangirai, said the prime minister has not yet met with Youth Development, Indigenization and Empowerment Minister Saviour Kasukuwere to discuss the new indigenization regulations. Kasukuwere published Regulations late last month spelling out how the 2008 law for indigenization of enterprises is to be implemented. Though companies have five years to comply, they must disclose shareholdings this year. | kvrr | |
19/2/2010 07:31 | Africa investor Tourism Awards 2010 Announced Wednesday, 17 Feb 2010 Africa investor (Ai), a leading international investment and communications group, today announced the highly acclaimed winners of its prestigious 2010 Africa investor Tourism Awards. Zimbabwe were awarded the Up and Coming Tourism Destination of the year award for their commitment to facilitating private sector investment into their tourism and hospitality sector. Cont..... -------------------- US Congressional Delegation Meets Zimbabwe Leadership, Advances Re-Engagement U.S. Rep. Gregory Meeks offered an upbeat message on restoring bilateral relations and cooperating to rebuild the Zimbabwean economy. Cont.... | tenapen | |
18/2/2010 18:46 | Oil and Gas, Nice work with the new Thread, :-). While looking for the link / post about a duel listing i found this Gem. tenapen - 12 Jul'09 - 19:02 - 405 of 676 edit Zimbabwe stable, says Mutambara Herald Reporters THE Zimbabwe International Investment Conference ended in Harare yesterday with Deputy Prime Minister Arthur Mutambara assuring investors of political stability in the country during and after the tenure of the inclusive Government. Cont... "After the constitutional review process, the principals would then meet to decide if there is need to go for elections but I do not see us going for elections in the five years as long as things are going well for the country," he said. ------- His remarks follow assurances by President Mugabe on Thursday that the conference should project Zimbabwe as a conducive investment destination in sub-Saharan Africa. ------ In an earlier interview, Deputy PM Mutambara hailed the convening of the conference that had shown the world the direction the country was taking. "What we have managed to showcase is on the way we are conducting our programmes and that is the 'Team Zimbabwe' approach." Cont... Deputy PM Khupe said the economic development being experienced since the formation of the inclusive Government also indicated that Zimbabwe was ready to do business with the world. Cont... Minister Mangoma said there has been a clear and consistent message from President Mugabe, PM Tsvangirai and Deputy PM Mutambara that they wanted the economy to move with Government playing a facilitatory role. He said the country's investment policies were robust and ranked among the best in the world for anyone who wanted to do business in Zimbabwe. Minister Mangoma said the conference fundamentally changed the outside world's perceptions on the country and the way Zimbabweans viewed themselves. He described the inclusive Government as a team "that will speak with one voice and in one direction". More than 400 local and international investors took part in the conference held under the auspices of the Short-Term Emergency Recovery Programme and the 100-day Action Plan that is expected to turn around the country's economy. END | tenapen | |
18/2/2010 16:54 | oil and gas - 18 Feb'10 - 10:07 - 674 of 675 edit Any chance LZM might take out a Listing on the Zimbabwe Stock Exchange? ============= tenapen - 18 Feb'10 - 16:14 - 675 of 675 Oil and Gas, A duel listing was mentioned last August / Sept. | kvrr | |
18/2/2010 16:53 | this thread is dead. I am moving to the new one which is better presented. | kvrr | |
18/2/2010 16:14 | Oil and Gas, A duel listing was mentioned last August / Sept. | tenapen | |
18/2/2010 14:34 | Zimbabwe Independent Thursday, 21 January 2010 18:09 Leonard Makombe LONZIM, the investment company owned by Lonrho [? Lonrho only have a 25% stake in LZM], could soon be building a five-star hotel in the capital. Last year the company, whose portfolio includes management of hotels in Zimbabwe and Mozambique, announced that it would be running a five-star hotel in Harare. This led to speculations that the group intended to buy either Rainbow Towers or Meikles hotels. LonZim managing director, Geoff Goss, confirmed this week that they would construct a five-star hotel. "We have identified a piece of land on which we can build a five-star hotel complex," said Goss. "We are not currently negotiating to acquire any existing hotel properties in Harare." Apart from the anticipated development, LonZim also runs Leopard Rock Hotel near Mutare. Goss said Leopard Rock has been doing well since it was taken over by the investment company. "Leopard Rock is an internationally sought after destination," added Goss. "Our management contract with Lonrho Hotels is proving to be a very successful formula. Occupancy rates and revenues are climbing steadily." LonZim also plans to fly the local skies with a low budget domestic airline. Another airline, Fly Kumba, last year failed to take off amid reports that it intended to ply routes which were already serviced by Air Zimbabwe. Goss said the Civil Aviation Authority of Zimbabwe (CAAZ) would allow them to fly if they complied with stipulated regulations. "Lonzim has three suitable passenger and cargo aircraft allocated to the business unit. CAAZ has an open skies policy and as long as we comply with their requirements, we are confident that we will be able to successfully traverse our desired routes," Goss said. While other players in the airline business were struggling, Goss said, LonZim would take the advantage of being a "low cost to operate" airline without any of the legacy issues other airlines are encumbered with. LonZim is listed on the London Stock Exchange's AIM (an international market for smaller growing companies) and it was formed primarily for long-term active investment to build a portfolio of investments in Zimbabwe. When it was formed four years ago, LonZim said they would look into investments in the tourism, accommodation, infrastructure, transport, commercial and residential property, technology, communications, manufacturing, retail, services, leisure, agricultural and natural resources sectors. Its profile has been built around these areas. Their aim is to reap the benefits which are likely to come with the warming of the economy which had stuttered for close to a decade. Apart from focusing on Zimbabwe, other LonZim operations are in Mozambique's Beira Corridor. This is the link between Zimbabwe and the Mozambican coast. | kvrr | |
18/2/2010 13:37 | No spam please KVRR. I can ban free users. | oil and gas | |
18/2/2010 13:22 | crikey whats happening here. | kvrr |
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