Dec 27, 2018| Appointment of Non-Executive Directors

The Board of Directors is pleased to announce the following appointment of non-executive directors effective from 1 January 2019, Mrs Emma Fundira, Ms Lucia Adele Swartz and Mr Richard Rivett-Carnac

Resignation and Retirement
We also announce the resignation of Mr Ricardo Tadeu Almeida Cabral de Soares following his reassignment from the role as Africa Zone President.

The Board bids farewell to Professor HC Sadza who retires from the Board after serving 11 years. We thank both for the valuable contributions to the Company.


Dec 21, 2018 | Unaudited Financial Results HY19

Financial Highlights:
- Revenue $ 8 011 288
- Profit from operations $ 466 627
- Profit before tax $ 456 895
- Profit for the year $ 337 051
- Dividend Nil
- Total comprehensive income for the period $ 337 051
- Basic earnings per share 0.13 US cents
- Diluted earnings per share 0.13 US cents
- Headline earnings per share 0.13 US cents


Dec 20, 2018 | Notice to Shareholders

The Directors of Willdale Limited (“the Company”) wish to advise its common shareholders as well as preference shareholders as follows:

1. The piece of land approved for disposal at an extraordinary general meeting held on 26th May 2017 has now been sold and sale proceeds amounting to $11,2 million realised and received;

2. These proceeds will be partly used to pay off all interest bearing debt including the capital amount on preference shares of $3.255 million and accumulated dividend thereon, as at 22nd November 2018, of $1.450 million;

3. The redemption of these 10% semi-annual redeemable cumulative preference shares is consistent with the Term Sheet for the Rights Issue of Preferred Stock issued in the Circular to Shareholders in March 2014 which stated that the preference shares are redeemable from year 3 to year 5 from issue date of 10 June 2014 at nil penalty to the Company;

4. The redemption of these preference shares, with accumulated dividend up to 22nd November 2018 has commenced, with 99.74% of the obligation having been settled to date;

5. It is the intention of the Company to delist these preference shares from the shareholders’ register by 31st December 2018;

6. All preference shareholders who have not yet received their redemption proceeds are therefore advised to submit their banking details for payment to First Transfer Secretaries whose details are: No. 1 Armagh Avenue, Eastlea, Harare; email This email address is being protected from spambots. You need JavaScript enabled to view it.; telephone +263 (242) 782869/72.


Dec 20, 2018 | Executive Changes

Dawn Properties Limited Board is pleased to announce the appointment of Mr Formai Mashame My­ambuki as the Company’s Finance Director and Company Secretary with effect from 1 December 2018.

He replaces Ms Valerie Muyambo who resigned on 31 October 2018, to take a new role with another organisation.


Revenue $ 61 290 915
Profit before tax $ 4 060 933
Profit for the period $ 3 188 608
Dividend Nil
Total comprehensive income $ 3 188 608
Basic earnings per share 2.99 US cents 


Dec 19, | Cautionary Statement

Shareholders are advised that the ultimate holding company of BNC, Asa Resource Group Plc (currently under Administration), has entered into a Sale and Purchase Agreement (“SPA”) with a third party in relation to the 74.73% shareholding in BNC. The conditions of the SPA include various regulatory approvals and other conditions as expected with a transaction of this nature. The third party is a UK based nickel company with complementary interests in Southern Africa.

Shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.


Dec 19, 2018 | Dividend Announcement

- Date Announced :Friday, 30 November 2018
- Dividend declared for the period :30 September 2018
- Dividend Amount per share :1.20 US cents
- Dividend Record Date :14 December 2018
- Last day to trade cum-dividend :11 December 2018
- Dividend ex-date :12 December 2018
- Dividend Status :Declared
- Dividend Payment Date :30 January 2019
- Tax Status :Gross
- Withholding tax :10%
- Scrip Dividend Offer :Available
- Scrip Dividend Offer Term :1 new share for every 43 shares held


Dec 17, | Cautionary Statement

The Directors of Falcon Gold Zimbabwe Limited (the “Company”) wish to advise all shareholders of the following pertinent matters:

1. The No 2 mill at the Golden Quarry processing plant had a catastrophic engineering failure late last week.
2. In the intervening period, management has been undertaking a full impact assessment and is now evaluating various options to deal with the matter at hand.
3. Notwithstanding this mill failure, to date the funding required to execute the 2019 financial budget has not been received by the Company and discussions with regards this funding are ongoing.
4. Lastly, the inability of gold producers to access foreign currency and the resultant failure of the Company to pay outstanding amounts to foreign creditors since June 2018, have resulted in key creditors cutting off critical operating supplies and a disruption in normal operations.
5. As a consequence of the above issues, the Board is in communication with its various advisors on the impact of these matters on the Company's results of operations and financial condition, which will result in a delay in the publication of the September 30, 2018 Abridged Financial Results to shareholders beyond 31st December 2018.
Shareholders are therefore requested to exercise caution when trading in the Company’s shares.


Dec 14, 2018 | Notice to Shareholders - Listing of Cassava and Postponement of EGM

Econet Wireless Zimbabwe Limited issued the following announcements:

Listing of Cassava SmarTech Zimbabwe Limited

" Following the finalisation of all the conditions precedent to the demerger of Cassava SmarTech Zimbabwe Limited (CSZL) from Econet Wireless Zimbabwe Limited (EWZL):
• 770,000,000 CSZL shares representing 77% of the initial issue were issued on credit to members of EWZL pro rata to their shareholdings as at the record date,
• 200,000,000 shares representing 20% of the initial issue were issued on credit to EWZL;
• 30,000,000 shares representing 3% of the initial issue were issued on credit to the Employee Share Trust for the benefit of both EWZL and CSZL employee as at the record date;
• Pursuant to the initial issue, EWZL made an election under Section 15(1)(b) of the Capital Gains Tax Act [Chapter 23:01]to transfer 100% of its shares in EcoCash (Pvt) Ltd, Econet Life (Pvt) Ltd, Econet Insurance (Pvt) Ltd, and Steward Bank Ltd to CSZL at no consideration in furtherance of a scheme of reconstruction; and
• Following the creation by CSZL of a distributable reserve from its earnings received from its subsidiaries, the company capitalised the reserve through a capitalisation or bonus issue of 1,590,576,832 Ordinary Shares of a nominal value of US$0.001 per share to the members of CSZL pro rata to their shareholdings.
Consequently, 2,590,576,832 issued ordinary shares in Cassava Smartech Zimbabwe Limited will be listed by way of introduction on the Zimbabwe Stock Exchange on Tuesday the 18th of December 2018.

As a result of the demerger, 583,453,309 debentures being 50% of 1,166,906,618 debentures in issue in EWZL will be transferred to CSZL, with the balance remaining in EWZL. The split of the debentures between EWZL and CSZL has been necessitated by the fact that debentures conversion has not taken place. The debentures in issue have a nominal value of 4.665 US Cents per debenture and a coupon rate of 5% per annum and are redeemable on 3 May 2023. Therefore, the conversion of the debentures has been postponed sine die."

Postponement of Extraordinary General Meeting

"After debenture holders holding 84.8% of the Company’s issued share capital accepted the offer for the conversion of debt to equity as proposed in the circular to shareholders, dated 8 November 2018, some minority shareholders raised concerns about conversion of debentures to equity. Consequently, the board decided to adjourn the Extraordinary General Meeting that was held on 29 November 2018 to 14 December 2018 to allow time for the Board of directors to consider the concerns. Take note that the directors are still considering the issues. Consequently, the company hereby further postpones the proposed conversion of debentures to equity and the Extraordinary General Meeting sine die."


Dec 14, 2018 | Notice on the Scheme of Arrangement

The Scheme Chairperson of Hwange Colliery Company Limited, Andrew Lawson, issued the following announcement:

"On 10th May, 2017, the High Court of Zimbabwe sanctioned a Scheme of Arrangement between the Company and its creditors in terms of Section 191(2) of the Companies Act.

This Order of the High Court remains in full force and effect, and has not been set aside by anyone. It binds ALL of the creditors of the Company to the terms and conditions of the Scheme setting out how the creditors will be repaid in the future.

Notwithstanding this High Court Order, on 26th October 2018 the Minister of Justice placed the Company under Administration in terms of the Reconstruction of State Indebted and Insolvent Entities Act.

The Minister of Justice has since approached the High Court seeking to confirm his reconstruction Order of the Company.

On the strength of the original Court Order sanctioning the Scheme and in order to protect creditor's interests, and in my capacity as the Trustee of the Scheme, I have filed an opposition to the Minister's application.

While the legal process in connection with the reconstruction is ongoing, I shall soon convene a creditors meeting to map the way forward in the mutual interests of both the Company and its creditors."

Dec 13, 2018 | Audited Financial Results FY18

Financial Highlights:
- Revenue $ 46 864 000
- Gross profit $ 18 199 000
- Operating profit before interest and tax $ 8 359 000
- Profit before tax $ 7 341 000
- Profit after tax $ 6 526 000
- Dividend Nil
- Total comprehensive income for the year, net of tax $ 6 786 000
- Basic earnings per share 1.38 US cents
- Diluted earnings per share 1.38 US cents

zw_ARTD_2018_FY    zw_ARTD_AO_18

Dec 10, | Further Cautionary Statement

Shareholders are advised that the First Capital Bank Limited Board of Directors has approved, subject to regulatory and other approvals, including but not limited to the final approval by the Reserve Bank of Zimbabwe, the unbundling of the Company’s non-core banking properties into a separate entity to be listed on the Zimbabwe Stock Exchange. The primary asset included is the Company’s 50% shareholding in a property holding company called Makasa Sun (Private) Limited. Shareholders will be provided with more details in due course.

Accordingly, shareholders and the investing public are advised to exercise caution and should consult their professional advisors when dealing with the Company’s shares.


Media Centre

Feb 05, 2019 | Statement by the Zimbabwe Stock Exchange

05 February 2019

The Zimbabwe Stock Exchange Limited (“ZSE”) hereby notifies the investing public of the voluntary suspension...

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