Question 1

Will FLA still need to conduct the proposed capital raise?

Accepted Answer

It remains subject to the justifications and recommendations of the Management and Board of FLA.

Question 2

How were the Langford assets treated in the valuation?

Accepted Answer

The Langford transaction was treated much the same way it is currently reported in the business’ financial statements.

Question 3

How did you arrive at the share swap ratio?

Accepted Answer

Adjusted Asset based valuation approach was utilized.

Question 4

Will my rights as a shareholder be affected if i don't accept the offer?

Accepted Answer

Certainly not! The Companies and Business Entities Act [Chapter 24:31] and the ZSE Listing Rules provide guidelines to protect minority interests of shareholders who do not accept the offer.

Question 5

Does ZHL have the capacity fund ZPI's future expansion and growth?

Accepted Answer

Yes, it’s an asset rich business coupled with strong intellectuals for human capital. Innovative funding models would be key to its future expansion and growth.

Question 6

How do you arrive at the share ratio?

Accepted Answer

Blended approach of market relatives and and asset based valuations.

Question 7

What was the rationale for the unbundling back then?

Accepted Answer

It was deemed a suitable competitive strategy during the era as the economic landscape rewarded such initiatives and this was in line with the Group’s growth trajectory.

Question 8

Why ZHL is not offering cash option?

Accepted Answer

Our approach has been to retain value for all shareholders in an inflationary environment. The duration between the opening, closure and settlement of cash to would be exiting shareholders would have discredited them of their value. We believe ZPI shareholders looking to exit have a high probability of retaining value and exiting on their own terms when they dispose their new ZHL shares in the market.

Question 9

Will ZHL be allowed to vote at the ZPI EGM?

Accepted Answer

There is no ZPI EGM scheduled at this point.