·         AGM Notice: CFI

·         Cautionary Statement: First Capital Bank

·         Notice to MashHold Shareholders

·         Operational Update for the 12 Months Ended 31 March, 2023: PPC

AGM Notice: CFI

CFI withdrew the Annual General Meeting (AGM) notice issued on the 9th of March, 2023, and pushed the event to a further date at the same venue. The company’s 27th AGM will now be held on Friday, the 21st of April, 2023 at 11:00 am in the Farm & City Boardroom, 1st Floor Farm & City Complex, No 1 Wynne Street, Harare.

Cautionary Statement: First Capital Bank

First Capital Bank announced to the investing public, on the 17th of March, 2023, of the approval by shareholders for the bank to delist from the Zimbabwe Stock Exchange and immediately list on the US$ denominated market, Victoria Falls Exchange. The investing public is thus advised to exercise caution when dealing with the company’s securities. FCB becomes the first bank to migrate from the ZSE to VFEX, which is a precedence for other banking stocks.

Notice to MashHold Shareholders

ZB Financial Holdings (ZBFH) issued a notice to the shareholders of Mashonaland Holdings, as well as the shareholders of ZBFH, pertaining to a mandatory Offer to Minority Shareholders of MashHold Ltd announced on the 20th of December, 2022. ZBFH acquired a control block of the outstanding shares in Mashhold, having paid the total purchase consideration of the shares tendered in terms of the offer. The bank and its associates now holds 50.5893% of shares in Mashhold, while the remainder is held by minorities.

Operational Update for the 12 Months Ended 31 March, 2023: PPC

In an operational update for the year ended 31 March, 2023, PPC said it expects cement sales volumes in South Africa and Botswana to decrease by 4% to 7% over the period after a decline of -2.6% was recorded in the first half of the fiscal year followed by a sustained negative trajectory in the second half. On the upside, the Group said average selling prices are expected to show a growth of 5-7% over the period at a time costs are expected to rise by 3-5%.

In Zimbabwe, PPC recorded a decline of -13% in sales volumes in the first half of the fiscal year owing to a longer than usual kiln stoppage to implement operational and environmental performance improvements. In the full year, the Group expects to record an average decline of -16% in Zimbabwe as power outages continue to weigh on production.

In Rwanda, PPC recorded an 11% growth in the first 6-months owing to recovery from the Covid-19 impact. The Group said Material future growth of sales volumes depends on the speed of implementation of planned investments to increase CIMERWA’s capacity.

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