CFI Holdings Limited - Cautionary Statement

CFI Holdings Limited - Cautionary Statement
Published: 23 January 2012 (1507 Views)
CFI Holdings Limited directors are advising shareholders to exercise caution in trading their shares as the company is currently engaged in discussions that may impact the value of the company's shares.

The discussions include, negotiations with potential strategic partners regarding investments in Victoria Foods (Private) Limited and Crest Poultry Group (Private) Limited.

Non-disclosure agreements have thus been executed with interested parties and a due diligence process been commenced. The conclusion of the investment initiatives is expected to bring capital and enhance the core operating division's efficiencies.  

In addition, in order to strengthen the company's financial position, the Board has proposed undertaking a capital raise transaction at the Holding Company level, involving a combination of an appropriate equity and appropriately priced medium and long term debt.

Furthermore, initiatives relating to the disposal of no-core assets are continuing with specific efforts to dispose of the Company's shareholding in the Beira Grain Terminal and in Windmill (Private) Limited. The proceeds from the disposals are intended to be applied towards reducing expensive local debt.  

Results for the year ended 30 September 2011 are expected to be published on the 31 of January 2012.

- Byo24News

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