Zimplow Holdings’ Barzem (Zimbabwe) to discontinue operations as a Caterpillar dealer

By Published On: June 21st, 2022Categories: Corporate announcement

Zimplow Holdings Limited (“the Company”) hereby advises its Shareholders and the investing public that the negotiations and discussion to dispose its 51% shareholding in Barzem Enterprises (Private) Limited (“Barzem”) has been superseded by the termination of the Caterpillar Distributorship Agreement by Barloworld Equipment. Barzem will discontinue operations as a Caterpillar dealer with effect from 30 September 2022. The Company is actively pursuing distributorships with new Original Equipment Manufacturers (OEMs) in the same market segment, under a new corporate brand, in order to continue supporting the Group’s mining and infrastructure partners with reliable equipment and aftersales services.

As such, the Cautionary Statement first issued to Shareholders on 21 September 2021 is hereby withdrawn. Accordingly, caution is no longer required to be exercised when dealing in the Company’s shares.

By Order of the Board

Group Company Secretary
21 June 2022

Zimplow Holdings Limited (ZIMW.zw)

Share price: 1,625.00 ZWL cents (-275.00 | -14.47% – 11/08/22)

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