Shumba raises P20m from Mauritius investors

The company stated this week that further to the announcement last month, which extended the closing date of a private placement of new ordinary shares at $0.12 each to June 30, 2014, the shares have been bought.

“The directors are pleased to confirm that undertakings to subscribe for 18,572,482 new ordinary shares for a total subscription value of $2,3 million, have been received from private and institutional investors based in Mauritius. The 18,572,482 new ordinary shares will be issued on 16 July 2014 following which the total number of shares in issue will be 196,958,562,” read the statement.