XYLEM-TRADING
11.1.2021 20:53:28 CET | Business Wire | Press release
XYLEM Trading Ltd (“Xylem”) is pleased to announce that it has entered into a Put Option Agreement (“Agreement”) with LDA Capital Limited (“LDA Capital”), a global alternative investment group, for the purposes of acquiring a controlling stake in Madison Financial Services Plc (“Madison” or “Company”), a diversified financial services group listed on the Lusaka Stock Exchange. LDA Capital has agreed to an equity commitment for up to USD 35,000,000 (“Commitment Amount”) to be utilized over the next 36 months.
Under this agreement, Madison shall have the right, but not the obligation, to draw down capital as required. The Company will control the timing and amount of capital drawn down under this Agreement. This method of fundraising provides management with a flexible financing tool and allows Madison Financial the ability to deploy cash on an as-needed basis.
LDA Capital will be granted warrants to subscribe for ordinary shares of up to seven-and-a-half percent (7.5%) of the outstanding common stock of the Company on a fully diluted basis, exercisable at any time during the term of the Agreement.
The Chief Investment Officer of Xylem Trading (the new controlling shareholder in Madison Financial Services Plc), Mr. Grant Flanagan, stated:
“This transaction, incorporating US$35m funding support from LDA Capital, puts Madison back on a strong financial footing, enabling the business to continue to operate smoothly and with the full confidence of all stakeholders. With a strengthened balance sheet, Xylem and LDA Capital’s ongoing support, Madison will be well positioned to win future new business across its four operating segments.
“This is an exciting transaction which has enabled Xylem to acquire a controlling shareholding, with Madison maintaining its independence and position in the Zambian and Tanzanian markets. We are delighted to be working with LDA as our funding partners.”
The Managing Partner of LDA Capital, Mr. Warren Baker, said:
“The 2020 global crisis has been particularly impactful on Africa, accelerating an extensive debt-trap diplomacy crisis which has delayed opportunities for regional market recovery.
“We believe in protecting the interests of shareholders and the region, avoiding excessive dilution and dependency on outside leverage or influence that would further exacerbate the debt crisis. LDA Capital has a strong track record of providing flexible financing to underserved markets, while allowing companies to maintain ownership and sovereignty over their businesses. This transaction is an endorsement of, and testament to, LDA’s support of Zambia’s future recovery and prosperity.”
About LDA Capital
LDA Capital is a global alternative investment group with expertise in complex, cross border transactions worldwide. Our team has dedicated their careers to international & cross border transactions having collectively executed over 200 transactions in both public and private markets across 43 countries with aggregate transaction values of over US$10 billion. For more information, please visit: www.ldacap.com ; For inquires please email:info@ldacap.com .
About Madison Financial Services Plc
Madison Financial Services Plc is a financial services group in Zambia offering solutions for general insurance and life assurance products for personal and corporate clients in Zambia and Tanzania. The company operates in four segments: life assurance, non-life assurance, asset management and microfinance. Madison Financial Services offers a range of products; from life and term assurance to pension funds which include unitized, guaranteed, endowment and mortgage endowment options. Company subsidiaries offer a range of health insurance products, and personal, motor, household, commercial and business interruption insurance. Madison Financial Services also provides investment management services, as well as investment funds, unit trusts and brokering service. The microfinance division offers solutions for loans to small- and medium-sized companies and employees of public and private institutions. Madison Financial Services Plc was established in 1992.
About Xylem Trading (Pty) Limited
Xylem Trading is a South African investment vehicle with a diversified investment portfolio which includes regulated financial services in Mauritius, Zimbabwe and operations in Mozambique and Seychelles.
Xylem Trading operations include a world-class commodity trading in fuel and grain in the SADC region.
For more information please visit: www.xylemtrading.co.za . For inquiries contact:admin@xylemtrading.co.za .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210111005964/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Verdict Expected Soon in Klarna’s $8.3 Billion Antitrust Lawsuit Against Google24.2.2026 19:09:00 CET | Press release
PriceRunner v. Google: Sweden’s Largest-Ever Civil Damages Claim Reaches Decision Stage; Klarna Provides Investor Update Klarna Group plc (NYSE: KLAR) announces that the Patent and Market Court of Sweden (Patent- och marknadsdomstolen) is expected to deliver its verdict on April 15, 2026 in the antitrust damages proceedings brought by Klarna’s subsidiary PriceRunner International AB against Google LLC and Google Ireland Limited. The trial, which ran from October 20 to December 19, 2025, concerned PriceRunner’s claim for approximately $8.3 billion in damages — the largest civil damages claim ever filed in a Swedish court. The Case The claim arises from Google’s abuse of dominance in online comparison shopping, as established by the European Commission in a binding 2017 decision and upheld without reservation by the Court of Justice of the European Union in September 2024. PriceRunner alleges that Google systematically demoted competing price comparison services in its search results whi
INRIX Announces New Generation of AI Traffic Products: Helping to Improve Safety, Reduce Congestion, and Enhance Mobility Operations24.2.2026 16:49:00 CET | Press release
New generative AI capabilities, enhanced incident detection, and expanded customer deployments mark a major evolution of the INRIX Traffic product family INRIX, a global leader in transportation data and analytics, today announced a major expansion of its Trafficfamily of products, delivering innovativeAI-driven capabilities to help transportation agencies and logistics organizations move from reactive traffic management to proactive, safety-focused and efficient operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260224267928/en/ INRIX introduces expanded automation, generative AI capabilities, enhanced incident detection, and continuous analytics. Over twenty years ago, INRIX commercialized the first system to use GPS data to create real-time traffic information. In 2019, INRIX launched AI Traffic – the world's first traffic platform to leverage deep learning models and AI to improve the quality and analysis globall
Check Point and ControlPlane Partner to Help Enterprises Securely Scale AI and Accelerate Agentic Innovation24.2.2026 15:30:00 CET | Press release
ControlPlane, a specialist AI Security and DevSecOps consultancy, and Check Point Software Technologies Ltd., a pioneer and global leader in cyber security solutions, today announced a strategic collaboration to help enterprises securely adopt Large Language Models (LLMs) and agentic AI systems at scale. The partnership delivers a comprehensive, regulator-ready security framework designed to reduce risk, protect sensitive data, and enable organizations to move confidently from AI experimentation to production deployment. By combining Check Point’s AI-native threat prevention platform with ControlPlane’s deep expertise in cloud native architectures and DevSecOps, enterprises can operationalize AI securely without slowing innovation. As organizations advance AI initiatives beyond pilots, they face a growing “AI readiness gap.” Emerging threats such as prompt injection, unauthorized access, data leakage, and model misuse introduce risks that traditional security controls were not built to
Clinilabs Establishes EU Headquarters in Basel, Strengthening European Clinical Operations Under New Regional Leadership24.2.2026 15:00:00 CET | Press release
Clinilabs, a leading specialty contract research organization (CRO) focused on central nervous system (CNS) drug and device development, today announced the expansion of its European operations, including the establishment of its European Union headquarters at Switzerland Innovation Park Basel Area, and the appointment of Dr. Anne-Marie Nagy as executive vice president and head of Clinilabs Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260224669284/en/ Dr. Anne-Marie Nagy appointed as Executive Vice President and Head of Clinilabs Europe Switzerland Innovation Park Basel Area is part of Switzerland’s national innovation network and located within the Basel region’s globally recognized life sciences cluster, bringing together biopharma companies, research institutions, and clinical innovation leaders. “Europe is a critical pillar of Clinilabs’ long-term growth strategy,” said Gary K. Zammit, Ph.D., president and chie
Yubico Unveils “YubiNation Partners”: A New Era of Global Channel Partnership to Secure Digital Identities in the Age of AI24.2.2026 15:00:00 CET | Press release
Yubico (NASDAQ STOCKHOLM: YUBICO), a modern cybersecurity company and creator of the most secure passkeys, today announced the launch of YubiNation Partners, a new global Channel program designed to unite a community of security experts. In the face of growing AI-driven cyber threats, the program enables partners to become trusted advisors and cultivate a safer digital world for their customers, making identities private and secure. As the average cost of a corporate security breach climbs to $4.4 million*, with phishing remaining a primary attack vector, the industry can no longer rely on passwords alone. In fact, a 2026 Total Economic Impact study from Forrester Consulting commissioned by Yubico, found that by replacing traditional multi-factor authentication (MFA) and one-time passwords (OTP) with YubiKeys, customers achieved a 265% return on investment (ROI). This effectively eliminated phishing and credential-theft risks, reducing an organization’s risk exposure to breach costs fr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom