Tanganda Tea Company Limited has issued a further cautionary announcement, notifying shareholders and the investing public that its proposed capital raise of US$8 million through a renounceable rights offer remains under consideration.
The update, dated October 20, 2025, follows an earlier cautionary statement made on September 29, 2025.
According to the company, the planned capital raise will be offered to existing shareholders in proportion to their current shareholding in the company.
In a statement signed by Company Secretary Sharon Kodzanai, Tanganda said:
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“The Company is currently finalising the preparation of a Circular to shareholders incorporating notice to convene an Extraordinary General Meeting of members for the purpose of considering and approving the capital raise.”
The company noted that if the transaction goes through, it could have a significant effect on the company’s share price.
“The Transaction, if successful, may have a material effect on the Company’s share price. Accordingly, shareholders are advised to continue exercising caution when dealing in the Company’s shares until a full announcement is made,” the statement added.
Tanganda, which is listed on the Zimbabwe Stock Exchange under the ticker TANG.zw, has been working to strengthen its balance sheet amid fluctuating market conditions and foreign currency constraints.
The proposed rights offer, once approved, will provide the company with additional working capital to support its operations and long-term growth strategy.
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