RIOZIM has announced that it will seek shareholder approval for an increase in borrowing at its upcoming 68th annual general meeting (AGM) slated for December 17, 2024.
The board intends to secure resolutions for two key matters regarding the company’s borrowing capacity and capital raising strategies.
The board aims to ratify a US$55 million short-term loan facility for the year ended December 31, 2023, and seek approval to raise its borrowing capacity to a maximum of US$63 million until the next AGM.