RIOZIM is seeking shareholders’ approval to execute a series of corporate actions, including asset disposals, debt restructuring and financing as part of its proposed turnaround strategy. The Zimbabwe Stock Exchange-listed metal and mining company has been struggling for profitability owing to a confluence of challenges, mainly, weak cash flow, high debt levels, undercapitalisation and antiquated…
RioZim seeks nod for turnaround plan
At an extraordinary general meeting held virtually last week Wednesday, shareholders voted 100 percent in favour of the disposal of the gold mine to an unrelated third-party purchaser.