Note: Considering health and safety considerations in light of the COVID-19 pandemic, Members will attend the meeting virtually. The meeting link is https://escrowagm.com/eagmZim/login.aspx
1. To receive and consider the financial statements for the year ended 30 June 2021 together with the report of the Directors and Auditors thereon.
2. To re-elect retiring Director, Mr. Themba Sibanda who retires by rotation and being eligible offers himself for re-election.
Themba is a Chartered Accountant who has worked in compliance, audit and advisory for the past 40 years. He is the principal at Schmulian & Sibanda Chartered Accountants (Zimbabwe) and sits on various boards of Stock Exchange listed entities such as Innscor Africa Limited, Padenga Holdings and PPC Zimbabwe Limited. He is also the Chairman of the Board of Directors for Edgars Stores Limited.
3. To re-elect retiring Director, Mr. Ray Rambanapasi who retires by rotation and being eligible offers himself for re-election.
Ray is a Chartered Accountant and has been the Group Finance Director of Axia Corporation Limited (Axia) since its inception in 2016. Prior to joining Axia, he had been Innscor Africa Limited as Group Finance Manager. He completed his articles with PricewaterhouseCoopers (PwC) and is also a holder of a Masters in Business Administration qualification from the University of Cape Town Business School.
4. To approve Director’s fees for the year ended 30 June 2021. Note: (The full report on Director’s Remuneration shall be available for inspection at the registered address of the Company.)
5. To approve the remuneration of the Auditors Messrs Deloitte & Touche for the year ended 30 June 2021. Deloitte & Touche have acted as the Company’s independent auditors for 4 years and resigned effective 1 November 2021. The Company is in the process of appointing a new external auditor for ratification by members.
6. Approval of Share Buy-Back
To approve as a special resolution, with or without amendments: “That the members authorize in advance, in terms of section 128 of the Companies and Other Business Entities Act (Chapter 24:31) and the Zimbabwe Stock Exchange (ZSE) Listing Requirements, the purchase by the Company of its own shares upon such terms and conditions and such amounts as the Directors of the Company may from time to time determine and such authority hereby specifies that: –
i) The authority in terms of this resolution shall expire on the date of the Company’s next Annual General Meeting; and
ii) Acquisitions shall be of ordinary shares which, in aggregate in any one financial year, shall not exceed 10% (ten per centum) of the Company’s issued ordinary share capital; and
iii) The maximum and minimum prices, respectively, at which such ordinary shares may be acquired will not be more than 5% (five per centum) above and 5% (five per centum) below the weighted average of the market price at which such ordinary shares are traded on the ZSE, as determined over th