This circular contains a renounceable and fully underwritten Rights Offer by EcoCash Holdings Zimbabwe Limited to the registered holders of ordinary shares in EcoCash Holdings Zimbabwe Limited as at 18 August 2023 to subscribe for 1,604,220,688 ordinary shares at a subscription price of US$0.0189 per each share, on the basis of 61.925 ordinary shares for every 100 shares already held. Each rights offer share shall be payable in full in United States Dollars with an option to pay in Econet Wireless Zimbabwe debentures at a price of US$0.06252 per each debenture.
Enclosed in this Circular are the following Documents:
- NOTICE OF EXTRAORDINARY GENERAL MEETING
Notice is hereby given that an Extra-Ordinary General Meeting of the members of EcoCash Holdings Zimbabwe Limited will be held on 7 August 2023 at 10:00hrs for the purpose of transacting the business indicated in the detailed Notice enclosed at the end of this circular. Attendance at the meeting may be electronic as detailed in the attached Notice. - PRELISTING STATEMENT
The pre-listing statement has been prepared on the assumption that resolutions to give effect to the rights offer proposed in the notice of the general meeting of shareholders will be passed at the Extra-ordinary General Meeting of shareholders to be held on 7 August 2023. - FORM OF INSTRUCTION IN RESPECT OF A LETTER OF ALLOCATION
- Rights Offer opens at the commencement of trade on 21 August 2023.
- Rights Offer closes at 14:30hrs on 8 September 2023.
Shareholders are referred to Part G of this Circular, which outlines the Directors’ responsibility in regard to this Circular.
Each of the Company’s advisers, whose names are set out in the Corporate Information page of this Circular, have consented in writing to act in the capacity stated and to their names being stated and, where applicable, their reports being included, in the form and context in which they appear in this Circular and have not withdrawn such consent prior to the publication hereof.
A copy of this Circular, together with the Prelisting statement, EGM notice, and Form of Instruction, were lodged and approved by the ZSE.
Date of issue: 24 July 2023
