ZAFFICO PLC Issues Cautionary Notice Ahead of Planned Rights Issue

Zambia Forestry and Forest Industries Corporation Plc (ZAFFICO) has issued a further cautionary announcement regarding its intention to undertake a Rights Issue aimed at raising funds to support its expansion and value addition programmes.

The company confirmed that discussions are ongoing with potential underwriters for the proposed Rights Issue. Shareholders are advised that if these discussions are successfully concluded, the outcome may have a material impact on the price of ZAFFICO shares.

Investors are urged to exercise caution when trading in the company’s securities and to seek advice from a licensed broker, investment advisor, or other professional regulated by the Securities and Exchange Commission of Zambia.

The announcement, issued by Company Secretary Mulawo Mwaba, follows the company’s earlier cautionary notice regarding the planned Rights Issue. The move forms part of ZAFFICO’s broader strategy to strengthen its capital base and support its growth initiatives.

ZAFFICO’s sponsoring broker for the exercise is Pangaea Securities Limited, a licensed member of the Lusaka Securities Exchange.