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Tuesday, January 31, 2023
HomeBusinessMedtech Completes Name-change To BridgeFort Capital Limited

Medtech Completes Name-change To BridgeFort Capital Limited

Listed manufacturing, retail, and distribution company Medtech Holdings Limited has completed the process of changing its trading name to BridgeFort Capital Limited in line with its restructuring exercise set to transform it into an investment holding company.

According to the group the name was chosen as it “described the vision and purpose of the new investment company to become a strong bridge between the investment community and the business community.”

As a result the shares currently trading on the Zimbabwe Stock Exchange (ZSE) shall have the following abbreviations: BFCA (BridgeFort Capital Limited Class A – Consumer Goods) and BFCB (BridgeFort Capital Limited Class B).

In a circular published on the ZSE this morning, the old name shall be shown for a period of not less than one year on the documents of title in brackets under the new name of the company.

Meanwhile the ZSE will give effect to the change of name from Monday the 13th of June 2022.

“Pursuant to the Extraordinary General Meeting held last year on the 15th of November 2021, converting MedTech Holdings Limited to BridgeFort Capital Limited, the circular for such conversion having been issued to shareholders on the 22nd of October 2021, the Board wishes to advise shareholders that change of name from MedTech Holdings Limited to BridgeFort Capital Limited has been duly approved and effected,” the group said.

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The company operates in three market segments: fast-moving consumer goods, medical supplies, and manufacturing of light industrial products.

It operates retail outlets in Harare and Bulawayo, and a manufacturing plant that produces petroleum jelly and glycerin, health, beauty, and personal hygiene products, and over-the-counter pharmaceutical products for the local Zimbabwe market as well as for export.

The resolutions, mostly relating to the changes in the capital structure of the company, have been approved and processed by the Registrar of Companies and Other Business Entities.

The group has found the going tough in recent months and is saddled with legacy debts amounting to millions of US dollars in foreign creditors.

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