Source: NewsDay (25-Jan-2012)
Source: Herald (24-Jan-2012)
Source: Botswana Stock Exchange
Accordingly, shareholders are advised to exercise caution when dealing in the Group’s securities until a full announcement is made.
BY ORDER OF THE BOARD
MJS Tunmer – Chief Executive Officer
Gaborone – 18 January 2012
MJS Tunmer – Chief Executive Officer
Gaborone – 18 January 2012
Source: Financial Gazatte (19-01-2012)
Source: The Herald (17-01-2012)
The Company is aware that the Reserve Bank of Zimbabwe has sanctioned this transaction and that the Zimbabwe Stock Exchange has been advised as appropriate. Meikles has been advised by the Moxon Group that the rationale for this transaction is to mobilise substantial capital for the Company in the international capital markets. The Group would like to thank all the Governmental authorities in Zimbabwe, including the Ministry of Youth Development, Indigenisation and Empowerment and the Reserve Bank of Zimbabwe, for their foresight and understanding in supporting the transaction.
The Board will keep shareholders updated on developments as they occur.
By Order of the Board
16 January 2012
Accordingly, Shareholders are advised to exercise caution when dealing in the company's shares until a full announcement is made.
By Order of the Board
| P. Manamike Company Secretary 12 January 2012 | Registered Office: 1st Floor, SAZ Building 1 Northend Close, Northridge Park Box BW537, Borrowdale Harare, Zimbabwe |
Head Office: First Floor SAZ Building, Northridge Park, Highlands, Harare, P.O Box BW 537, Zimbabwe
Tel. +263-4-852795 / 853054-6 | Fax. +263-4-850705
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Website by Big Law Management Consultants.
Tel. +263-4-852795 / 853054-6 | Fax. +263-4-850705
Contact us | Email Alert | Request Info | Get AICO RSS feed | Unsubscribe
Website by Big Law Management Consultants.
Release #:2046-105090-rl-717119:
ZAMBEEF Products Plc has pumped more than K13 billion into the Palm plantation pilot project in Mpika to develop a raw material base for its palm oil requirements and cut down on imports.
Palm oil is the main ingredient used in the manufacture of cooking oil and stockfeed and Zambeef currently imports its raw materials for its Zamanita edible oil plant in Lusaka from East Asia.
Zambeef Chief Executive Officer Francis Grogan said up to US$2.6 million has so far been pumped into the 4,000 hectare land in Mpika which if successful, would see the development of more land for palm tree plantation.
“The pilot phase of the 4,000 hectare land is underway with $2.6 million already spent on it in 2011 alone. Should this be successful, it will lead to the development of the other land that we have,” he said.
He said Zambia and the region remained a major importer of vegetable oils and that Zambeef was currently a large importer of palm oil from the Far East for its edible oils division.
“Once yields of palm fruit commences, it will allow us to substitute imported palm oil and thereby improve on margins through an extension of primary commodity production and processing.
The 4,000 hectares of land being used in the pilot project is just one-fifth of the total land the Group has reserved for the palm tree plantation bringing the total land for the project to 20, 000 hectares.
Should the entire 20,000 hectares become productive, Zambeef would then start feeding the entire region through exports And in order to meet the anticipated increase in processing palm oil from the Zampalm project, Zambeef has also invested K30 billion into upgrading and expansion of its Zamanita plant.
Through an investment of more than K30 billion, Zamanita will increase its crushing capacity and production efficiencies as the investment was expected to raise the production capacity to 100, 000 tonnes per annum from well below 50,000 tonnes.
Source: Times Of Zambia
Palm oil is the main ingredient used in the manufacture of cooking oil and stockfeed and Zambeef currently imports its raw materials for its Zamanita edible oil plant in Lusaka from East Asia.
Zambeef Chief Executive Officer Francis Grogan said up to US$2.6 million has so far been pumped into the 4,000 hectare land in Mpika which if successful, would see the development of more land for palm tree plantation.
“The pilot phase of the 4,000 hectare land is underway with $2.6 million already spent on it in 2011 alone. Should this be successful, it will lead to the development of the other land that we have,” he said.
He said Zambia and the region remained a major importer of vegetable oils and that Zambeef was currently a large importer of palm oil from the Far East for its edible oils division.
“Once yields of palm fruit commences, it will allow us to substitute imported palm oil and thereby improve on margins through an extension of primary commodity production and processing.
The 4,000 hectares of land being used in the pilot project is just one-fifth of the total land the Group has reserved for the palm tree plantation bringing the total land for the project to 20, 000 hectares.
Should the entire 20,000 hectares become productive, Zambeef would then start feeding the entire region through exports And in order to meet the anticipated increase in processing palm oil from the Zampalm project, Zambeef has also invested K30 billion into upgrading and expansion of its Zamanita plant.
Through an investment of more than K30 billion, Zamanita will increase its crushing capacity and production efficiencies as the investment was expected to raise the production capacity to 100, 000 tonnes per annum from well below 50,000 tonnes.
Source: Times Of Zambia
Source: Newsday (9-Jan-2012)
The advisors to Cresta, as set out below at the end of this announcement, are authorized to announce the results of the Share Buy Back Scheme as follows:
| Total number of shareholders participating in the Share Buy Back | 415 shareholders |
| Total number of shares bought back by Cresta | 365,056 shares |
| Payment made out by Cresta | BWP 547,584.00 |
The 365,056 shares bought back by Cresta will be retained as treasury shares and were de-listed from the Botswana Stock Exchange on Monday, 5th December 2011.
The rights attached to the above-mentioned treasury shares in relation to voting, dividends and participation in any other distribution or otherwise would be suspended and the treasury shares would not be taken into account in calculating the number or percentage of shares or a class of shares of the Company for any purposes including the determination of substantial shareholdings, take-overs, notices, the requisitioning of meetings, quorums for meetings and the results of a vote on resolutions(s) at meetings.
| By order of the Board | 16 December 2011 |
Chairman
Plot 50676, Fairground Office Park
Phase 2, Block D, Unit 2
Private Bag 00272
Gaborone, Botswana
Source: NewsDay (06-Jan-11)
Source: Nairobi Stock Exchange
Source: Ghana Stock Exchange
Source: NewsDay (04-Jan-2012)
Chairman's Statement
IntroductionThe economy has maintained a steady growth path abetted by the strong performance in the mining and tourism sectors. Growth for the fiscal year 2012 is expected to be 9.4% slightly ahead of the forecast of 9.3% for 2011...
Strategy execution
I am glad to report that progress has been made although I would have wished to report more concrete outcomes in certain areas...
Financial Review - Statement of Comprehensive Income
Turnover for the period at $3.3 million was 25% ahead of turnover achieved in the prior period. Total operating costs increased by 14% mainly driven by the agro business unit which grew substantially...
Outlook
The group's property portfolio has the potential to yield meaningful profits and cash flow, which in part, can be channelled to property development initiatives...
Appreciation
May I take this opportunity to thank all the stakeholders for their invaluable support. To the Board members, income tax provision management and staff your dedication is appreciated.
To download the full unaudited results for the six months ended 30 September 2011 please click on the link below.
Accordingly, Shareholders are advised to exercise caution when dealing in the company's shares until a full announcement is made.
By Order of the Board
| B. Mudzimuirema Director 20 December 2011 | Registered Office: 1st Floor, SAZ Building 1 Northend Close, Northridge Park Box BW537, Borrowdale Harare, Zimbabwe |
The Board RESOLVED to APPROVE to declare the Second Interim Dividend for 2011 of MK200.8Million representing 2 tambala per share.
The share register will be closed from 9th January 2012 to 11 January 2012. Holders whose name shall appear in the register as at close of business on 6th January 2012 will be eligible for the dividends payable on 27th January 2012.
Source: NewsDay (21-12-2011)
Source: Stock Exchange of Mauritius
Source: Stock Exchange of Mauritius
Source: Stock Exchange of Mauritius
The Directors of Imara Holdings Limited have the pleasure in announcing the release of their un-audited consolidated Group financial results for the six months ended 31 October 2011. Below are highlights from the financial report.
Financial Highlights:
- Revenue up by 10% to BWP 52.0 million.
- Total comprehensive income for the period up by 134% to BWP 1.8 million
- Basic earnings per share (0.068) thebe.
- Total assets up by 33% to BWP 334.6 million.
- Total shareholders equity up by 1% to BWP 135.4 million.
To download the full interim results for the half-year ended 31 October 2011, click on the link below.
TNM wishes to advise its shareholders that:
Following receipt of an expression of interest, TNM had entered into discussions with a potential strategic equity partner.
The interested party has proposed substantive amendments to the indicative offer terms outlined in its original expression of interest.
TNM considers these amendments to be unacceptable and has, therefore, terminated discussions with the party concerned.
Accordingly, the cautionary statements previously issued with regard to these discussions are now withdrawn.
CHAIRMAN OF THE BOARD
Why invest in TNM
"Through continued improvement of service, growth in subscribers and expansion of its existing mobile network capacity TNM offers investors potential for both capital and dividend growth."
Source: NewsDay (13-Dec-11)
Source: Nairobi Stock Exchange
The Directors of National Tyre Services Limited are pleased to announce the release of the Group's unaudited financial results for the half year ended 30 September 2011.
Financial Highlights:
- Revenue: US$ 7.23 million
- Profit before tax: US$ 459 thousand
- Total assets: US$ 7.28 million
Source: The Herald Zimbabwe (08-Dec-11)
Financial Highlights:
- Revenue: US$ 29.748 million
- Loss for the period from continuing operations: US$ 1.68 million
- Total assets: US$ 61 million
Source: Nairobi Stock Exchange
Fund Manager's Report
Review of the Year
The Malawi equity market remained stubbornly bearish throughout the period under review. As anticipated, foreign investment sentiment remains negative, largely on the basis of perceived macroeconomic risk. It was, however, more disappointing that the enactment of compulsory pension legislation did not see any appreciable demand for equities from the growing pool of domestic investment capital, particularly when viewed against the background of a sharp decline in money market yields...With interest income, despite declining yields, remaining at the same level as prior years and the overall increase in expenditure of 3.7% being contained well below the national inflation rate, the 19% increase in dividend income translated into a 22% increase in NITL’s distributable profit for the year. This is reflected in a significant increase from 45 tambala to 65 tambala in the proposed final dividend recommended by the directors.
Outlook
The future direction of the equity market will depend to a great degree on government policy responses to the country’s current macroeconomic difficulties. Acute pressure on the value of the local currency coupled with prevailing increasingly negative real interest rates should see a shift in investor focus to real assets including equities, particularly equities of companies with an inbuilt currency/inflation hedge....Directors’ Report
Nature of Business
The Company is a closed end collective investment scheme established with the objective of providing investors with the opportunity to invest in a diversified portfolio of equity investments in Malawi. The Company is licenced by the Registrar in accordance with the Securities Act. The Company’s investment policy, which has been fully complied with during the year, appears on page 2...Share capital
Details of the current authorised and issued share capital are set out in note 8. An analysis of shareholders by type and holding is set out on page 33.Dividends
An interim dividend of 27 tambala per share (2010: 25 tambala) was paid on 24 June 2011 to shareholders registered in the Company’s share register on 17 June 2011. The directors recommend a final dividend of 68 tambala per share (2010: 45 tambala) for declaration at the forthcoming annual general meeting.Source: Stock Exchange of Mauritius
Source: Botswana Stock Exchange
Source: Zimbabwe Independent (2-Dec-11)
Group review
IndigenisationAfter meeting the various requirements set by the Ministry of Youth Development, Indigenisation and Empowerment, the Company was accorded its indigenous status and is now in compliance with the Empowerment Act...
Pick n Pay investment into TM Supermarkets
Save for the Competition and Tariff Commission, the regulatory authorities have now approved the Pick n Pay investment into TM Supermarkets...
Disposal of the Cape Grace
The disposal of the Cape Grace Group is expected to be completed in the second half of our financial year.
Employee Share Trust (“Trust”)
As stakeholders will remember, on 18 August 2011 the shareholders approved the allocation of 24 million Meikles shares into the Meikles Limited Employee Share Trust...
Executive share scheme
The Group executives together with an indigenous consortium have set up a special purpose vehicle to acquire shares in the Company through the Zimbabwe Stock Exchange...
Ex-Cotton Printers equipment
Following the conclusion of the liquidation of Cotton Printers, the spinning and weaving equipment remained unsold. The Company subsequently entered into an agreement to dispose of this equipment to the former workers of Cotton Printers..
Funds held at the Reserve Bank of Zimbabwe
Negotiations with the RBZ for the repayment of our deposit of US$37 million are still continuing. We remain confident that the deposit, that is accruing interest, will be repaid. Shareholders are advised that there are no further outstanding issues with the RBZ.
Group results
The Group has continued to make progress under very difficult conditions, with high borrowing costs and inadequate capitalisation. Revenues from continuing operations increased by 39% compared to the same period in 2010...
TM Supermarkets (“TM”)
Revenues increased by 36.4% to $136.6 million (2010: $100.2 million). The EBIDTA for the 6 months ended 30 September 2011 was $3.5 million (2010: $2.1 million)...
Thomas Meikle Stores
The revenues increased by 114.9% to $12.2 million (2010: $5.7 million). The gross margin was 32% (2010: 33%). The EBIDTA for the 6 months ended 30 September 2011 was $234,000 (2010: loss of $579,000)...
Tanganda Tea Company
The peak season for tea remains November to March in any given year and is heavily influenced by the rainy season. Therefore, in the 6 months ended 30 September 2011, the company's main focus was plantation development and diversification into other crops...
Meikles Hospitality
The tourism sector in Zimbabwe continues to recover due to the relative political and economic stability. The tourist arrivals have increased by around 16% this year according to the Zimbabwe Tourism Authority...
Directorships
The Company announced the resignation of the then Group CEO Mr. B Beaumont with effect from 30 September 2011. The Group has reorganised its management structures to cover the gap left by Mr. Beaumont who will not be replaced in the short to medium term. The Meikles Limited board which is made up of 4 indigenous and 2 non indigenous members is in compliance with the empowerment laws of the country.
Outlook
The success achieved in obtaining most of the requisite approvals for the PnP investment into TM Supermarkets and of the company being accorded its indigenous recognition all augur well for the future. These recently acquired approvals have had no impact on the results for the first half of the financial year...
For and on behalf of the Board
J R T Moxon
Executive Chairman
24 November 2011
To download the full 2011 interim results please click on the link below:
Highlights
- Revenue was up by 22% to US$48.8 million.
- Occupancy grew by 11% to 51%
- RevPAR went up by 21% to US$40
- ADR increased by 8% to US$80
- EBITDA (excluding restructuring costs) was up by 432% to US$2.71 million
- EBITDA (after restructuring costs) dropped by 112% to US$0.57 million
- Capital expenditure increased by 59% to US$3.84 miilion
- Loss for the year was US$10.2 million
"Through a clearly defined strategy for expansion into high growth African markets, African Sun intends to grow its current 2,926 rooms under management to 5,500 rooms by 2012. This will be achieved through acquisition of long-term lease arrangements, management contracts and partnerships with property developers in a manner that maximises efficiencies and minimises operational risk."
The important dates pertaining to this dividend for shareholders trading on the ZSE are as follows:
| Record date | 16 December 2011 |
| Register closes | 17 December 2011 |
| Register re-opens | 19 December 2011 |
| Payment date | 10 January 2012 |
By Order of the Board
A E Siyavora
Finance Director
Financial Highlights:
- Revenue: US$ 23.773 million
- Operating profit: US$ 1.238 million
- Basic earnings per share: USc 0.65
Notice is hereby given that the 17th Annual General Meeting of Zambeef Products PLC will take place at the Taj Pamodzi Hotel, along Addis Ababa Drive, Lusaka, on Thursday, December 22, 2011 at 10:00 hours.
Note:
A Member is entitled to appoint one or more proxies to attend, speak and vote in his or her stead. A proxy need to be a member of the Company. Proxies must be lodged at the registered office of the Company at least 48 hours before the time fixed for the meeting.
AGENDA
- To read the Notice of the Meeting and confirm that a quorum is present.
- To read and confirm the minutes of the 16th Annual General Meeting held on January 25, 2011.
- Consider any matters arising from the minutes.
- To receive the report of the Directors, the Auditors report and the Financial Statements for the year ended September 30, 2011. (Resolution 1)
- To re-appoint Grant Thornton (Zambia) as Auditors for 2011/12 and to authorise the Directors to fix their Remuneration. (Resolution 2)
- In terms of the articles Stanley Phiri, Irene Muyenga and John Rabb retire but are eligible to offer themselves for re-election. (Resolution 3)
- To approve the allocation of 2,000,000 (two million) new ordinary shares for senior management share option plan iv. (Resolution 4)
- To approve the recommendation of the Board to pay a final dividend for the year ended September 30, 2011 of ZMK21.40 (USD 0.0045) per share. (Resolution 5)
- To consider any competent business of which due notice has been given.
Note:
A Member is entitled to appoint one or more proxies to attend, speak and vote in his or her stead. A proxy need to be a member of the Company. Proxies must be lodged at the registered office of the Company at least 48 hours before the time fixed for the meeting.
Source: Nairobi Stock Exchange
The Board of Directors of Zambeef Products PLC is pleased to announce the release of the Group's 2011 annual report.
Below is a brief extract from the 2011 full year results:-
“Strong performance aided by the growth of the Zambian economy”
Zambeef (AIM: ZAM), the fully integrated agri-business with operations in Zambia, Nigeria and Ghana, is pleased to announce its results for the year ended 30 September 2011.
In June of this year, the Group raised approximately US$54.97 million by way of both a rights issue of new ordinary shares to existing investors via the Lusaka Stock Exchange (“LuSE”) (the “Rights Issue”), at K2,975 per share and a placing of new ordinary shares to institutional investors on admission to AIM (the “Placing”) at 38.06p per share.
Financial Highlights
- Revenue up by 28% to US$ 206.8 million
- Operating Profit up by 108% to US$ 14.8 million
- Profit Before Tax up by 225% to US$ 10.6 million
- Earnings Per Share up by 95% to USc 5.10
- Proposed Dividend (to be approved by shareholders at AGM) of USc 0.45
Operational Highlights
- Growth in revenue of 28 per cent. across the business
- Gross margins improved from 31.4% (2010) to 34.1% (2011)
- Profit after tax up 125% to US$9.4 million
- Acquisition of Mpongwe farms in Zambia for US$4 6million consisting of 46,876 Ha (of which 2,994 Ha is irrigated and 7,667 Ha is rainfed land))
- Increases capacity to produce soya beans in a soya bean deficient region for throughput to the growing and high margin edible oils division, Zamanita Ltd.
- Zambeef now owns total hectarage of 8,000 Ha of irrigated and 9,000 Ha of rainfed arable, developed land
- Dramatic turnaround in performance of Zamanita Ltd. with gross profit increasing 73 per cent. to US$13.1million
- Expansion and upgrade of Zambian retail network; seven new retail outlets opened, eight existing retail outlets refurbished and first two wholesale stores established
- Continued expansion in West Africa in partnership with Shoprite with gross profits of West African operations increasing by 54 per cent. to US$2.4million
- Further development of our leased land in Nigeria to supply Shoprite’s increasing footprint in the area
- Currently 4 Zambeef own stores in Nigeria
- Currently 3 outlets in Shoprite stores in Nigeria; 2 in Ghana
- Commencement of stock feed exports to Zimbabwe which, during the year, totaled over 3,000 MT
Commenting on the results, Chairman Dr. Jacob Mwanza, said:
“We are delighted to report a strong performance of our business, aided by continued growth of the Zambian economy, a higher level of disposable income among our customers, stability of the Zambian Kwacha and single digit inflation. We have a strong infrastructure in place and we believe that, combined with our vertically integrated business model, this will enable us to realise our objective of becoming the leading food provider in both Zambia and the surrounding region.”
To download the full 2011 annual report please click on the link below.
Source: The Herald (28-Nov-11)
Source: Nairobi Stock Exchange
Source: Nairobi Stock Exchange
Source: Malawi Stock Exchange
Source: NewsDay (24-Nov-11)
Source: Nairobi Stock Exchange
Source: Lusaka Stock Exchange
