Shareholders are advised that at the Company’s Extraordinary General Meeting (“EGM”) held on 17 August 2022, all resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders, representing 368,072,508 votes, equal to 79.44% of the total issued shares, which were present in person or by proxy. Details of the voting results at the EGM are as follows:
|ORDINARY RESOLUTION: RATIFICATION OF THE COMPANY’S CHANGE OF STRATEGIC FOCUS
a. the disposal of the Company’s Rolling Stock Assets for an amount of USD4,500,000 or Zimbabwe dollar equivalent (“the Disposal”) upon the terms and conditions of the sale and purchase agreement dated 19 October 2020 (the “SPA 1”) be and is hereby approved, confirmed, and ratified
|b. the purchase of a residential Land, comprising two (2) residential pieces of land measuring 3.6395 hectares with all the developments thereon, situate in the district of Salisbury, called Quinninton Township for total price of USD2,150,000 (“the Acquisition”); upon the terms and conditions of the sale and purchase agreement dated 4 January 2021 (the “SPA 2”) be and is hereby approved, confirmed, and ratified;
|c. the Directors of the Company and each of them be and are hereby authorised and empowered to complete and do all such acts and things (including, without limitation, executing all such documents and approving any amendments, alterations or modifications to any documents as may be required) as they or he may consider necessary, desirable, or expedient to give full effect to this resolution; and
|d. any acts, matters and things done or performed, and/or documents signed, executed, sealed and/or delivered by any Director in connection with the Disposal, the SPA1, the Acquisition, the SPA2 and this resolution be and are hereby approved, confirmed, and ratified.
BY ORDER OF THE BOARD
18 August 2022
7753 Canberra/Greenock Roads
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