Simbisa Brands Sets AGM Date, Eyes Strategic Growth
Simbisa Brands Limited, a leading player in the fast-food and casual dining sector in Zimbabwe, is gearing up for its highly anticipated Annual General Meeting (AGM) on November 22, 2024. This important event will take place at 08:15 hours at the Standards Association of Zimbabwe, nestled in the picturesque Borrowdale area of Harare. For those unable to attend in person, the company has thoughtfully arranged for a virtual attendance option, emphasizing their commitment to inclusivity and shareholder engagement.
The AGM will serve as a pivotal moment for shareholders to gather and review the company’s financial performance over the past fiscal year, which ended on June 30, 2024. One of the key items on the agenda is the adoption of the company’s audited financial statements, a crucial step in ensuring transparency and accountability within the organization.
In addition to financial reviews, shareholders will have the opportunity to participate in important decisions, including the election of directors. Notably, Mr. Nabil Mankarious’s appointment as an Independent Non-Executive Director will be ratified, while the re-election of directors Addington Chinake and Jacqueline Hussein will also be considered. Moreover, shareholders will weigh in on directors’ fees and essential resolutions related to financial borrowings and auditor remuneration.
A highlight of this year’s AGM will be the proposal to authorize Simbisa Brands to repurchase up to 10% of its issued ordinary shares in any financial year, an action that could significantly bolster shareholder value. The share buyback is designed to utilize excess capital, reflecting the company’s robust growth strategy and confidence in its market position.
To foster a collaborative environment, Simbisa Brands encourages all shareholders to actively participate, whether in person or virtually. This collective approach underscores the importance of shareholder input in steering the company’s future trajectory.
With its commitment to strategic growth and financial stability, Simbisa Brands is poised for a bright future in Zimbabwe’s vibrant economy.
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