ZHL terminates negotiations for $10 million capital raise
Staff Reporter
ZIMRE Holdings has terminated negotiations for a proposed Emeritus International Reinsurance Company capital raise in Botswana.
The group which has been trading under a cautionary notified the withdrawal of the cautionary today.
“…….negotiations for the Emeritus International Reinsurance Company capital raise have been terminated….Accordingly, caution is no longer required to be exercised by shareholders when dealing in the securities of ZHL,” the group said.
ZHL following consolidation and rebranding of its reinsurance operations to Emeritus International registered in Botswana, indicated that it was targeting to raise $10 million through a private placement on the Botswana Stock Exchange (BSE).
The group’s chairman, Ben Khumalo, commenting on the company’s interims to June 2019, said the group was currently undertaking the identification and shortlisting of potential investors as well as obtaining the requisite Zimbabwean regulatory and shareholder approvals.
“The capital raise is expected to unlock the full potential of the regional operations in terms of growth and performance,” he said.
