OK Zimbabwe Limited advises its shareholders that the company has entered into negotiations, which, if successfully concluded, will have a significant impact on its business, Shareholders are therefore advised to exercise caution and to consult their professional advisors in dealing with their shares in the company.
By order of the Board
L. Murinda
Company Secretary
27 August 2009![]()
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OK Zimbabwe: Cautionary statement
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OK Zimbabwe: Further cautionary statement
OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisors in dealing with their shares in the company.
By order of the Board
L Murinda
Company Secretary
23 September 2009![]()
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OK Zimbabwe: Further cautionary statement
Further to the cautionary notice published on 23 September 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisors in dealing with their shares in the company.
By order of the Board
L. Murinda
Company Secretary
22 October 2009![]()
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OK Zimbabwe: Further Cautionary Notice
Further to the Cautionary notice published on 22
October 2009, OK Zimbabwe Limited advises its shareholders that negotiations are
still in progress. Shareholders are accordingly advised to continue exercising
caution and to consult their professional advisors in dealing with their shares
in the company
L. Murinda
Company Secretary
21 November 2009![]()
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OK Zimbabwe stocks up for festive season
OK Zimbabwe Limited, Zimbabwe's largest retail company by market share, says it has adequately stocked its entire branch network ahead of the festive season.
In its financial statement for the interim period ending 30 September 2009, OK said high stocking levels are underpinned by credit from third party suppliers as well as credit from local banks.
During the period under review, the group said the bulk of the merchandise was imported from South Africa as local manufacturers are still...![]()
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OK Zimbabwe: Dollarisation Boosts Income
OK Zimbabwe Ltd, the country's largest retail consumer group, generated US$76,6 million in revenue, while operating income amounted to US$2,8 million powered by the dollarisation of the economy in January. In their financial results for the interim period ending September 30 2009, OK Zimbabwe chairman Dave Lake said high stocking levels were underpinned by credit from third party suppliers as well as credit from local banks.
During the period under review, the group said the bulk of the...![]()
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OK Zimbabwe: Further cautionary notice
Further to the cautionary notice published on 21 November 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisors in dealing with their shares in the company.
By order of the Board
L. Murinda
Company Secretary
15 December 2009![]()
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OK Zimbabwe: Further cautionary notice
Further to the cautionary notice published on 15 December 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisers in dealing with their shares in the company.
By order of the Board
L. Murinda
Company Secretary
14 January 2010![]()
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OK Zimbabwe on recapitalisation drive
OK Zimbabwe Limited intends to raise US$20 million to recapitalise operations through a rights offer and private placement.
The company said it envisaged to raise US$15 million through a rights offer while US$5 million would be raised through a private placement.
OK has been closing down some branches in recent months due to low business and stiff competition. The retail chain requires working capital to restock most of its outlets, which have remained under-stocked.
The company intends...![]()
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OK Zimbabwe opens rights offer season
OK Zimbabwe is to take its bid for working capital to the vote in a move that signals a growing appetite for rights issues by cash-hunting Zimbabwe Stock Exchange (ZSE)-listed companies this year.
A significant number of listed firms are struggling with working capital constraints as a result of the dollarisation of the economy last year, which brought stability to the markets. But the severe liquidity crunch has almost wiped out working capital for companies battling to turn the corner from...![]()
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OK Zimbabwe: Notice of change of date of EGM
Members of OK Zimbabwe Limited (the "Company") are hereby advised that the date of the Extraordinary General Meeting ("EGM") of the members of the Company originally scheduled to be held on 9 March 2010 will now be held on 25 March 2010, at 1000 hours at OK House, 7 Ramon Road, Graniteside, Harare. Members of the Company are further advised that the proposed resolutions have been amended as follows:
As Special Resolutions:-
Re-denomination of the authorised ordinary share...![]()
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OK ZIMBABWE: Results of the Extraordinary General Meeting
OK Zimbabwe Ltd's Extraordinary General Meeting held on 25 March 2010 at 1000 hours at OK House, 7 Ramon Road, Graniteside, Harare, was successful. All special and ordinary resolutions were unanimously passed without alterations or amendments. The resolutions were as follows:
Resolution
Result
Special Resolutions:-
...![]()
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OK Zim rights offer opens today
OK Zimbabwe rights offer opens today following the approval of the recapitalisation plan by shareholders last week.
The firm is seeking to raise US$20 million through a combination of a US$15 million rights issue and a convertible loan of US$5 million.
An integral part of the transaction is the introduction of South Africa's Investec Asset Management as a value-adding shareholder and equity partner to OK.
All resolutions on the agenda received sufficient votes to go through. OK, with the...![]()
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OK Zimbabwe Rights Offer closes
The OK Zimbabwe Limted Renounceable Rights Offer which opened on Monday, 29 March 2010 following the approval of the recapitalisation plan by shareholders at the EGM on 25 March has closed today.The results of the Rights Offer are expected to be announced on Tuesday, 13 April 2010, with the Rghts Offer shares being issued and listed on the Zimbabwe Stock Exchange the following week.
The recapitalization drive is being carried out through a combination of equity (US$15,000,000.00 Rights Offer)...![]()
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OK ZIM: Invitation to interact with us
Dear Investors,
You will be aware from recent publications that OK Zimbabwe Limited is currently raising US$20m through equity capital and convertible debt. These recapitalisation initiatives will enhance our financial strength as a business and assist our 49 branches countrywide (operating from in excess of 74,000 square metres of retail trading floor space) to compete effectively and strengthen our position as a dominant retailer in Zimbabwe.
We have also embarked on a progressive online...![]()
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OK Grand Challenge 2010
We at OK Zimbabwe Limited are proud this year to run the 22nd OK Grand Challenge Jackpot Promotion along with the usual Horse race, exciting promotional activities as we celebrate 70 years of trading in Zimbabwe. The event this year will be bigger, better and more exciting than ever before as OK Zimbabwe reclaims top-spot in the retail sector in Zimbabwe. The mood and excitement in this year's OK Grand Challenge Jackpot Promotion extends from OK Zimbabwe through to our supplier partners and...![]()
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Results of the Renounceable Rights Offer
Members are advised that a Rights Offer was made to the registered holders of ordinary shares in OK Zimbabwe Limited as at 26 March 2010 to subscribe for 250,375,139 (two hundred and fifty million, three hundred and seventy five thousand, one hundred and thirty nine) new ordinary shares in the share capital of OK Zimbabwe Limited, at a subscription price of US$0.06 (zero comma zero six United States dollars) per ordinary share, on the basis of 3.42 (three comma four two) new ordinary shares for...![]()
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OK rights offer raises US$15m
OK ZIMBABWE has shown its attractiveness after raising US$15 million through a renounceable rights offer in a rather dry market.
A successful rights offer concluded this week paves the way for a US$5 million convertible loan, which leaves the retail chain US$20 million richer.
At US$20 million, OK Zimbabwe, spurned by South Africa's Shoprite last year, is now able to recapitalise its operations which have been affected by high inflation, price controls and a general economic decline.
The...![]()
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SA equity fund acquires 7pc stake in OK Zim
South Africa's Investec Africa Frontier Private Equity Fund has acquired a 7 percent equity in OK Zimbabwe.
The Fund, an arm of Investec Asset Management, snatched up 29,6 percent of OK's US$15 million rights offer, which received a 70,4 percent shareholder support, to make it one of the most successful rights offers this year.
The latest development puts the Investec Asset Management arm on course to acquire at least 15 percent of the Zimbabwe Stock Exchange-listed retail group after the...![]()
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OKZIM: Notice of launch of OK Zimbabwe investor relations website and invitation to register
The Board and Management of OK Zimbabwe Limited (OK Zim) are pleased to announce the launch of the OK Zim investor relations website on OKZiminvestor.com. The website is content-rich, interactive and encourages feedback from you at every opportunity.
The management would like to hear from you, and invites you to register on this new interactive website to keep up to date with all developments in OK Zim and access all the information you need to monitor management's efforts to create...![]()
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