·         Extension of Results Publication: Truworths; Edgars

·         Dividend Announcement: FBCH

·         ZBFH FY Financial Results

·         Notification of significant shareholder: Caledonia

Harare - Extension of Results Publication: Truworths; Edgars

As the policy change in inflation figures continue to weigh on valuations, the duo of clothing retailers, Truworths and Edgars, have announced an extension to the publication date of financial results as there have been delays and complications in complying with the International Accounting Standard 29 – Financial Reporting in Hyperinflationary Economies. Truworths extended the publication date for its reviewed financial results for the half year ended 08 January, 2023, to 08 May, 2023. The results were due to be published on the 8th of April, 2023. Edgars Stores Limited postponed the publication date for financial results relating to the full year ended 08 January, 2023, to 08 May, 2023.

Dividend Announcement: FBCH

Financial company, FBC Holdings Limited, declared a final dividend of ZWL297.64 cents per share. The dividend is in respect of the year ended 31 December 2022, and will be payable to shareholders registered in the books of the Company at close of business on Friday, 14 April 2023. The payment of dividend will take place on or about 28 April 2023. FBC shares will trade cum-dividend up to the 11th of April, 2023, and ex-dividend as from 12 April, 2023.

ZBFH FY Financial Results

Financial stock, ZB Financial Holdings, posted a positive financial performance in the full year to 31 December, 2022. The Group recorded a 75% growth in total income from ZW$40.343 billion last year to ZW$70.542 billion in the year under review owing to a significant rise in trading income and fair value credits. Due to an increase in loans and advances book, net interest income rose by 77% to ZW$20.05 billion. Commissions and fees went up by 38% as a result of increased customers and volume of transactions. Other operating income improved by 394%, largely constituted by the realised foreign exchange gains from treasury trading activities and unrealised gains from revaluation of the Group’s foreign denominated balances. Owing to inflationary pressures, operating costs grew by 46%, which is however below the growth in incomes. Following the partial relaxation of the contractionary monetary policy in the first quarter of 2023, we expect the loan book to show to a positive growth trajectory in the half-year 2023 financial results.

Notification of significant shareholder: Caledonia

VFEX listed miner, Caledonia Mining Corporation, announced that it received notification on April 19, 2023 from Allan Gray Proprietary Limited of a change to its interest in the Company and on April 17, 2023 crossed a particular threshold for notification. The notification was in respect of an acquisition and disposal of voting rights, completed on the 19th of April, 2023, in Capetown, South Africa.

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