· Notice of EGM: Padenga
· Cautionary Statement: RTG; CBZ
· AGM Results: CBZ
· Trading Update: Delta; AFDIS
Harare - Notice of EGM: Padenga
Padenga Holdings Limited announced that an Extraordinary General Meeting (EGM) of its members will be held at 1000 Hours on Wednesday, 16 August 2023, at the Royal Harare Golf Club, situated at 5th Street Extension, and virtually by electronic means via the link, https://escrowagm.com/eagmZim/Login.aspx. The EGM relates to and seeking approvals for the scheme of reconstruction and restructuring of Padenga Holdings Limited to be achieved by way of a share swap through the acquisition by Padenga Holdings Limited of 8,982 Dallaglio Investments (Private) Limited shares, representing 49.9% equity shareholding in Dallaglio Investments (Private) Limited in exchange for an issuance of 253,003,361 Padenga Holdings Limited ordinary shares listed on the Victoria Falls Stock Exchange and incorporating.
Cautionary Statement: RTG; CBZ
Rainbow Tourism Group Limited issued a cautionary statement renewal, further to the statement published on 5 July 2023, advising stakeholders that the Company is still engaged in negotiations for a potential transaction involving the acquisition of a complementary business. If successful, the transaction may have a material effect on the price of the Company’s securities.
CBZ Holdings Limited issued a further Cautionary Statement on the 24th of July 2023, pursuant to nine other prior statements, advising stakeholders that the Company is still engaged in negotiations for a potential acquisition of a complimentary business that, if successfully concluded, may have a material impact on the Company’s securities. Therefore, shareholders are advised to exercise caution when dealing in the securities of the Company.
AGM Results: CBZ
CBZ held its 31st Annual General Meeting (AGM) on 21 July 2023, and all ordinary matters were passed. However, two of the three special business matters were withdrawn and not considered, and these were: the approval of the CBZ Holdings Limited Senior Management Share Option Scheme inclusive of Special Resolutions 1,2,3,4,5,6 and 7; and the approval of the Non-Executive Directors Share Plan inclusive of Special Resolutions 8,9 and 10.
Trading Update: Delta; AFDIS
In its first quarter ended 30 June 2023, beverages giant, Delta Corporation Limited, registered a 163% growth in inflation adjusted revenue, buttressed by a strong volumes performance. In US$ terms, revenue rose by 10% against prior comparative period. The Group said 80% of its revenue for the period was denominated in US$ owing to constrained ZWL liquidity amid a contractionary monetary policy. The Lager Beer volumes grew by 12% while Sparkling Beverages and Wines and Spirits volumes went up by 11% each. Sorghum Beer volumes recorded a 7% growth in Zimbabwe and a whopping 74% in Zambia while on the downside, the United National Breweries South Africa recorded a volume decline of 2% for the quarter. The associate entity, Schweppes Holdings Africa Limited posted a volume growth of 5% for the quarter.
In the three months to 30 June 2023, AFDIS recorded a 143% increase in revenue in inflation adjusted terms while in US$ terms, revenue rose by 15% to US$12.5 million. The growth was induced by volumes growth and inflation related price adjustments. The Company registered a volume growth of 11% above prior year mainly driven by Ready-to-Drink segment which grew by 26% along with Spirits volumes which notched up 1% while partially countered by a -13% decline in wine category volumes.
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