Mashonaland Holdings Limited will convene its 59th Annual General Meeting on Thursday, 18 June 2026 at 11:00 hours, to be held both virtually and in the company’s boardroom on the 19th Floor of ZB Life Towers, 77 Jason Moyo Avenue, Harare.
According to the notice issued by Company Secretary E. Madhaka on 28 May 2026, shareholders will be asked to receive and adopt the audited financial statements together with the directors’ and auditors’ reports for the 12 months ended 31 December 2025. On directorate matters, the meeting will note the retirement by rotation of Mrs. Patronella Musarurwa, who will not seek re-election in accordance with Article 99 of the company’s Substituted Articles of Ass
ociation. Eng. Grace Bema and Ms. Tandiwe Masunda also retire by rotation under the same provision and, being eligible, have offered themselves for re-appointment. Shareholders will vote on each director through separate resolutions. The AGM will also consider and approve non-executive directors’ remuneration for the past financial year.
Regarding external auditors, shareholders will be asked to approve audit fees for the 2025 financial year and to re-appoint Axcentium as auditors for the ensuing year. Axcentium has served as the company’s auditors for the past two years.
The board has recommended a final dividend of US$266,000, representing 0.01576 US cents per share, in respect of the financial year ended 31 December 2025. The dividend will be payable on 1,687,584,009 ordinary shares in issue.
As special business, shareholders will consider a special resolution to introduce a share buy-back scheme, subject to the Companies and Other Business Entities Act, ZSE Listing Rules, and Article 51 of the company’s Substituted Articles of Association. Under the proposed mandate, acquisitions would be limited to ordinary shares not exceeding 10% of the company’s issued share capital in any one financial year. Buy-backs may not be executed at a price greater than 5% above or 5% below the weighted average market price for the five business days preceding the transaction.
The maximum funds allocated will not exceed retained earnings as per the latest available financial statements. Shares repurchased may be held as treasury shares. The mandate would run from the passing of the resolution until the next AGM, but will lapse if the company is unable to declare and pay a dividend during that period.
Members entitled to attend and vote may appoint one or more proxies to attend, speak, and vote on their behalf. Proxies must be lodged with the Company Secretary at the registered office at least 48 hours before the meeting. A proxy need not be a member of the company.
The meeting will also transact any other business permissible at an Annual General Meeting.
