Investrust recapitalisation talks advance – Tembo

INVESTRUST Bank Plc says discussions with ZCCM-Investment Holdings (ZCCM-IH) relating to its recapitalisation will soon be finalised subject to regulatory approvals.
ZCCM-IH has increased its shareholding in Investrust from 45.4 percent to 71.4 percent in May this year, becoming the majority shareholder following acceptance of the mandatory offer from the bank’s minority shareholders.
A total of 2,125,890 shares were tendered for sale to ZCCM-IH representing 26 percent of the total shareholding in the bank.
Investrust company secretary Cuthbert Tembo, in a cautionary announcement issued on Monday, said discussions with ZCCM-IH relating recapitalisation of the bank had reached an advance stage

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