· AGM Notice: BAT
· Delay in Publication of Financial Statements: HCCL; CBZ
· Cautionary Announcement: Econet; Ecocash
· Dividend Declaration Notice: Tigere
Harare - AGM Notice: BAT
BAT Zimbabwe announced that its 63rd Annual General Meeting of shareholders will be held at Cresta Lodge Harare, Corner of Samora Machel Ave and Robert Mugabe Rd, Msasa, Harare, on the 28th of April 2023, at 10am. The meeting will also be held virtually for the convenience of stakeholders.
Delay in Publication of Financial Statements: HCCL; CBZ
Hwange Colliery Company Limited, whose financial year ended on the 31st of December 2022, announced that there will be a delay in the publication of the financial results for the fiscal year, and will now be published on or before the 28th of April, 2023. The delay has been necessitated by the need to conclude the audit process.
CBZ, which was also supposed to publish financial results by the 31st of March, 2023, for the financial year ended 31 December, 2022, according to listing laws, announced that the results will be published not later than 15 April, 2023. The delay is attributed to the need to consider the impact of corporate transactions on financial reporting, resolution of material matters around the audit of expected credit losses and related government guarantee on Agro-yield and CBZ Bank Loans. In line with that, the also sought to advise shareholders and the investing public that CBZ is still engaged in negotiations for a potential acquisition of a complimentary business, a transaction which may have a material impact on the value of the Company’s shares.
Cautionary Announcement: Econet; Ecocash
Econet and Ecocash Holdings Zimbabwe issued an announcement to shareholders on its consideration of calling for an Extra Ordinary General Meeting of Members for the purpose of considering a renounceable rights issue of new ordinary shares in the capital of the Company to raise a total amount of approximately US$30.3 million that is required to redeem the outstanding Debentures in the Capital of the Company. This will lower the gearing of the company.
Dividend Declaration Notice: Tigere
Tigere Property Fund announced a dividend declaration for the quarter ended 31 March, 2023, according to pre-listing guidance. A dividend of US$219,839 was declared, and this consists of US$101,325 being 0.014 cents per unit, as well as ZWL110,050,700 being 15.29 cents per unit. The dividend will be payable on or about the 28th of April 2023 to all unitholders of the REIT registered at the close of business on 21st of April 2023. Tigere said the properties under the listed portfolio reached 100% occupancy levels, and has reduced its ZWL exposure in a bid to preserve value in a hard currency.
Equity Axis News
