· AGM Notice: African Sun; First Mutual Properties; Zimpapers
· Cautionary Statement: CBZ
· Full Year Financial Results: Ecocash Holdings
AGM Notice: African Sun; First Mutual Properties; Zimpapers
The VFEX listed hotelier, African Sun, announced that its 51st Annual General Meeting (AGM) of shareholders will be held at 1200 hours on Wednesday, 28 June, 2023 virtually on the link https://escrowagm.com/eagmZim/Login.aspx.
First Mutual Properties Limited also announced that its 20th AGM of members will be held at 0930 hours on Tuesday, 27 June, 2023 at First Mutual Office Park, 100 Borrowdale Road, Harare. Among the resolutions to be discussed at the AGM include special business transactions involving loans to Executive Directors as well as the general authority to buy back shares.
Zimbabwe Newspapers Limited (Zimpapers) issued a notice about its 96th AGM of shareholders which will be held at 1100 hours on the 29th of June, 2023. The meeting will only be held virtually on ZOOM using: Meeting ID: 864 6764 8519; Password: Shareholders to contact the Transfer Secretaries on the following numbers: 0772 936413, 0773 668 857.
Cautionary Statement: CBZ
CBZ issued a 9th cautionary statement on the 1st of June, 2023, which is in line with 8 other cautionary statements issued since the 18th of June, 2022. The statement seeks to advise shareholders and the investing public that the Company is still engaged in negotiations for a potential acquisition of a complimentary business. It also seeks to caution the investing public that if successfully concluded, the acquisition may have a material impact on the value of the Company’s shares.
Full Year Financial Results: Ecocash Holdings
Ecocash Holdings Zimbabwe Limited published its financial results for the full year ended 28 February, 2023, in which the Group reported a 5% growth in inflation adjusted revenue from ZWL96.8 billion in the prior year to ZWL101.3 billion. The Group said 78% of the total revenue was driven by the Fintech business followed by Insurtech at 17% and lastly Digital Platforms at 5%, in line with the prior year’s performance. Ecocash Holdings also initiated a capital raising process to facilitate redemption of the Company’s debentures which matured at the end of April 2023. A renounceable-rights offer of US$30.3 million of new ordinary shares in the Capital of the Company is under consideration.
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