There were 3 Stock Exchange News Services (SENS) announcements in week 37 on the LuSE; 1 from Zambian Breweries PLC (ZAMBREW), 1 from Madison Financial Services PLC (MFS) and 1 Real Estate Investments Zambia PLC (REIZ).
ZAMBREW : MARKET ANNOUNCEMENT
Zambian Breweries Plc – warehousing and logistics transformation
Following the Market Announcement issued on 31st January 2022, the Board of Zambian Breweries Plc (Zambrew) would like to update the market on further developments of its sales, warehousing and logistics transformation.
A subsidiary, Zambian Breweries Distribution Company Limited (ZBDC), was incorporated on 3rd February 2022 in order to position the Company for long term future growth by investing in a customer and consumer centric commercial strategy.
MFS: FURTHER CAUTIONARY RENEWAL
Shareholders are referred to the First Cautionary Announcement issued on 3April 2020 and the subsequent Further Cautionary Announcements wherein the Board of Directors of Madison Financial Services PLC (“the Board”) (“MFS” or “the Company” or “the Group”) informed the shareholders and the market that the Board and Management of MFS have a general mandate to explore and identify specific assets that would be earmarked and considered for disposal by the Company to raise capital to meet some of the Group’s liabilities.
The Board wishes to inform the shareholders and the market that the Company is still exploring and identifying assets that would be earmarked and considered for disposal.
REIZ: FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement dated 30 June 2022 shareholders are advised by the Board of Directors of Real Estate Investments Zambia Plc (“REIZ” or the “Company”) that the full impact of the new developments are still being determined, and that these new developments may have a material effect on the price of the company’s securities.