Engineering concern, Zimplows has issued a cautionary statement to its shareholders and the investing public with the company currently in negotiations for a deal that may affect its Zimbabwe Stock Exchange share price.
The group did not however reveal the nature of the transaction.
“Shareholders are advised that Zimplows Holdings Limited is in discussions regarding a potential transaction, which if successfully concluded may have an impact on the price of the company shares,”
Shareholders will be provided with further details concerning the transaction in due course. Accordingly, shareholders are advised to exercise caution and should consult their professional advisors before dealing in the company shares,” said the company.
Zimplows shareholders recently upheld diversification of the business into the transport and logistics industry in a bid to expand operations.
The Group recorded a 17 percent growth in revenue in its FY2020 ahead of prior year driven by growth in volumes across the major product ranges at Farmec, Barzem, CT Bolts and Mealiebrand.
Its new chairperson, Godfrey Manhambara said the group will double its current performance by 2024 utilizing the group’s diversified structure, premium brands and technical expertise.