ZB Financial Holdings: Delay in publication of Q3 2019 Interim Report

By Published On: November 15th, 2019Categories: Corporate announcement, Earnings

In terms of section 35 (5) of the Securities and Exchange (Zimbabwe Stock Exchange Listings Requirements) Rules 2019, listed companies are required to publish a third-quarter interim report on their websites and on the Zimbabwe Stock Exchange (ZSE) Data Portal within 45 days of the end of that quarter. Therefore, ZB Financial Holdings Limited (the Group) is required to publish its interim report for the third quarter ended 30 September 2019 on or before 15 November 2019.

However, the Group will be unable to publish the interim report by 15 November 2019 following the announcement by the Public Accountants and Auditors Board (PAAB) that the preparation and presentation of financial statements of entities operating in Zimbabwe for the financial periods ended on or after 1 July 2019 shall be in terms of the Financial Reporting in Hyperinflationary Economies Standard (IAS 29).

Due to the extensive technical work that is required to comply with IAS 29, the Group sought and obtained the approval of the ZSE to defer the publication of the interim report. Shareholders are advised that the Group will publish the interim report for the third quarter ended 30 September 2019 on or before 15 December 2019.

14 November 2019

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