Oct 04, 2017 GBZW.zw | Audited Financial Statements for the year ended 30 June 2017

Shareholders,

It is pleasure that I present the audited financial statements of GetBucks Microfinance Bank Limited (“the bank”) for the year ended 30 June 2017, 18 months since we were granted our Deposit Taking License and Listing on the Zimbabwe Stock Exchange and five months since the launch of Zimbabwe’s first Listed Medium-Term bond.

RESULTS

Operating environment

The Zimbabwean operating environment during the period under review was challenging however I am happy to report that despite many difficulties the business continued to return a healthy profit. Significant challenges continue to be experienced on the cash and Nostro payment platforms because of the country’s negative balance of payments position.

Despite these, the bank has been able to operate normally in an environment of cash shortages by using all locally available electronic payment channels for payments and receipts. The bank is a full participant on RTGS, Zimswitch and all mobile money platforms and will continue to leverage on this capability to ensure uninterrupted service for its customers. We believe there are opportunities abound on the market to deliver value to customers and shareholders alike.

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Oct 04, 2017 PGIN.zw | Update on the Secondary Scheme of Arrangement

Further to the update on the Secondary Scheme of Arrangement published on 7 April 2017, scheme members are advised that Dewei Investments Limited (Dewei) has now received the necessary regulatory approvals, including Exchange Control and Indigenization. Dewei is now proceeding to conclude the transaction. It is anticipated that settlement to scheme members will be made in October 2017. Further updates will be published pending finalization of the transaction.

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Oct 02, 2017 COLC.zw | Abridged Circular to Shareholders

Colcom has published an Abridged Circular relating to the proposed Scheme of Arrangement in terms of Section 191 of the Companies Act [Chapter 24:03] as amended, in terms of which, if implemented, Innscor Africa Limited will acquire all of the scheme shares from the scheme participants for a consideration of 0.55 Innscor ordinary shares for every 1 Colcom ordinary share held and incorporating a Substitute Offer in terms of Section 194 of the Companies Act.

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Oct 02, 2017 FMHL.zw | Announcement to Shareholders

The Board of Directors of First Mutual Holdings Limited (FMHL) advises shareholders and stakeholders that following negotiations between FMHL and National Social Security Authority (NSSA), a major shareholder in FMHL, an agreement has been reached between FMHL and NSSA pursuant to which NSSA will acquire FMHL’s entire shareholding in Rainbow Tourism Group (RTG), subject to certain terms and conditions. The agreement to dispose of 373,289,666 shares representing 19.957% shareholding in RTG was reached on 28 July 2017. The disposal is at a price of $0.009275 per share, which was determined based on the volume weighted average price. The transaction will be settled in the normal way. The disposal is in terms of the Corrective Order issued by the Pensions and Insurance Commission (IPEC) in 2012 and this investment in RTG has been classified as held for sale by FMHL since December 2015.

The disposal will provide a number of benefits to FMHL, including diversification of its investment portfolio as well as increasing admissible regulatory capital for the Group’s insurance subsidiaries, as the sale proceeds will be applied to prescribed assets.

Shareholders and the investing public are therefore advised to consult the professional advisors when dealing in FMHL shares.

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Oct 02, 2017 DAWN.zw | Unaudited Abridged Financial Statements for the six Months Ended 30 June 2017

INTRODUCTION

On behalf of the Board of Directors, it gives me pleasure to present the abridged interim financial statements for Dawn Properties Limited (“the Company” or the “Group”) for the six months ended 30 June 2017.

FINANCIAL REVIEW

Statement of comprehensive income
Group revenue totalled US$2.3 million with the property investments and property consultancy segments contributing 58% and 42%, respectively. Revenues were 23% higher than the same period last year. The increase in revenue was primarily driven by improved performance from our hotel properties.

Group operating expenses stood at US$1.7 million, up from US$1.2 million incurred during the period ended 30 June 2016. The increase was primarily attributable to expenses incurred in renovating Caribbea Bay Hotel. In addition, the Group also finalised the ZIMRA tax dispute and recognised the outstanding penalties and interest amounting to US$302 000. As a result, despite the encouraging increase in revenue, the Group recognized a pre-tax profit of US$544 000, which represents a 23% decrease from the same period last year.

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Mar 14, 2019 | Invitation To Advertise In The ZSE Handbook

14 March 2019

The Zimbabwe Stock Exchange Limited (ZSE) will be publishing the 2018 ZSE handbook that will...

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