Results of an extraordinary General Meeting of members of the Infrastructure Development Bank of Zimbabwe (IDBZ)

13 Oct 2021
Notices
Shareholders are advised that at the Extraordinary General Meeting of Members of the Infrastructure Development Bank of Zimbabwe (IDBZ) held on Tuesday 12 October 2021 at 1430hours, the following resolutions were unanimously passed; namely –
 
1. Approval of a Rights Offer 
IT WAS RESOLVED that the Directors of IDBZ be and are hereby authorized to raise approximately ZWL1,750,032,954 (One Billion Seven Hundred and Fifty Million Thirty Two Thousand Nine Hundred and Fifty Four Zimbabwean Dollars Only) by offering 11,270,902 (Eleven Million Two Hundred and Seventy Thousand Nine Hundred and Two) ordinary shares at a subscription price of ZWL155.27 per share in IDBZ’s authorized and unissued ordinary share capital to existing holders of IDBZ’s ordinary shares, and to issue and allot such shares as may be subscribed to pursuant to the Rights Offer to shareholders who would have followed their rights.
 
2. Directors’ Authority
IT WAS RESOLVED that the Directors of IDBZ be and are hereby authorized to do all such things as may generally be necessary to give effect to the Rights Offer.
 
Bank Secretariat 
By Order of the Board
 
Registered Office
IDBZ House, 99 Gamal Abdel Nasser Rd
P.O. Box 1720, 
Harare