· AGM Results: Border Timbers
· Notice to Shareholders: Hippo
· Delay in publication of Full Year 2022 Financial Results: Zimplow
· Full Year Financial Results: Caledonia & Mashhold
Harare - AGM Results: Border Timbers
Border Timbers held Annual General Meetings, individually, for the years from 2018 to 2022 as the company was under judicial management. For the years 2018 to 2021, shareholders passed the resolution to adopt Financial Statements for the period under judicial management. In the 2022 AGM, the Company resolved to re-elect retiring directors.
Notice to Shareholders: Hippo
Hippo Valley Estates Ltd issued a notice to shareholders and other stakeholders on the new appointments to the Board of Directors. Tafadzwa Chigumbu, a member of the Chartered Institute of Management Accountants, was appointed to the Board along with Daniel Leseja Marokane, who is the Interim Chief Executive Officer of Tongaat Hulett Limited, adding to his responsibility as the Chief Business Transformation Officer.
Delay in publication of Full Year 2022 Financial Results: Zimplow
The Board of Directors of Zimplow Holdings Limited issued a notice to stakeholders on a delay on the publishing of its Abridged Audited Financial Statements for the year ended 31 December 2022, which were supposed to be published by 31 March 2023. The delay is due to the extensive work necessary to conform to the requirement that Financial Statements are adjusted for hyper-inflation, and so will be published on the 28th of April, 2023.
Resignation of Director: SeedCo Ltd
The Board of Directors of SeedCo Limited announced the resignation of Mr. Michael Shongwe Ndoro as an Independent Non-Executive Director of the Company and as a member of the Company’s subsidiary and associate boards. He had served as a Director for more than 12-years.
Full Year Financial Results: Mashonaland Holdings
Mashhold reported a 98% surge in inflation adjusted revenue to ZW$3.8 billion for the year ended 31 December 2022. The growth was attributed to revenue earned from the Mashview Gardens cluster housing development which accounted for 30% of the overall revenue. Due to inflation induced rental adjustments, the Group recorded a 34% increase in rental income. Owing to the positive growth, Mashhold recorded a profit after tax of ZWL17.2 billion, from a loss of ZW$4.8 billion recorded in 2021.
Mashhold acquired a 4ha site in Pomona for the development of a wholesale centre, a 2ha site along Borrowlade Road for the development of an Office Park, completed construction works on the 1st phase of the Mashview Gardens cluster housing project and disposed of Charter house during the year under review.
Full Year Financial Results: Caledonia Mining Corporation Plc
In the full year to 31 December 2022, Caledonia recorded a revenue of US$142 million, which is an increase from US$121 million recorded in 2021. Resultantly, grows profit rose to US$61.8 million from US$54.1 million in the prior year. The growth in revenue was due to an increase in production as 80,775 ounces (“oz”) of gold were produced in the year, up from 67,476 oz in 2021. This was also buttressed by a reduction in costs as on-mine cost per ounce came in at $735, down from $742) in 2021. The Group also said it completed the acquisition of Bilboes gold project in Zimbabwe in January of 2023, post the reporting period.
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