Econet Wireless Zimbabwe – Cautionary Announcement

By Published On: February 6th, 2024Categories: Corporate announcement

Further to the Cautionary Announcement dated 16 January 2024, shareholders are advised that Econet Wireless Zimbabwe Limited (“Econet” or “the Company”) and EcoCash Holdings Zimbabwe Limited (“EcoCash Holdings”), being companies under the same control, are engaged in negotiations that may result in the transfer to Econet of the following Financial Technology Businesses: EcoCash (Private) Limited, VAYA Technologies Zimbabwe (Private) Limited, Econet Insurance (Private) Limited, Econet Life (Private) Limited, MARS Zimbabwe (Private) Limited, and Maisha Health Fund (Private) Limited in exchange for Econet shares that may be distributed to the EcoCash Holdings Limited Shareholders on pro rata basis. The envisaged Scheme of Reconstruction will not result in the delisting of EcoCash Holdings Zimbabwe Limited or Econet Wireless Zimbabwe Limited.

Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s securities until a full announcement is made.

By order of the Board

T.A. Ngowe
Group Company Secretary

6 February 2024

Econet Cautionary Announcement – 6 February 2024.pdf

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.