First Mutual Holdings Cautionary Announcement

November 12, 2021|

On 21 January 2021, shareholders were advised that the National Social Security Authority (“NSSA”) had announced its intention to reduce its stake in First Mutual Holdings Limited (“FMHL”) from 66.22% to 35% through offloading up to 31.22% to a strategic partner.

On 11 November 2021, CBZ Holdings Limited (“CBZ Holdings”) issued a Cautionary Statement in which it announced that, following the conclusion of negotiations, it has executed an agreement for the acquisition of 31.22% shareholding in FMHL from NSSA. CBZ Holdings have indicated that the agreement is subject to several conditions precedent. If these conditions are fulfilled and the transaction is successfully concluded, NSSA will remain as FMHL’s single largest shareholder.

These new developments may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.

BY ORDER OF THE BOARD

S F Lorimer
Group Company Secretary
12 November 2021

FIRST MUTUAL HOLDINGS LIMITED, First Mutual Park, 100 Borrowdale Road, Borrowdale, Harare, Zimbabwe | P O Box BW 178, Borrowdale, Harare.
Tel: +263 (242) 886000 – 17 | E-mail: [email protected] | Website: www.firstmutual.co.zw

Latest news and corporate announcements from First Mutual Holdings Limited (FMHL.zw).

The Group has more than a hundred years of serving Zimbabwe by provision of economic dignity though its strategic business units. We have diverse interests in life assurance, health insurance, short term insurance; short term re-insurance; long term re-insurance; wealth management, property sector, funeral services and microfinance housed under the following subsidiaries; First Mutual Life, First Mutual Health, NicozDiamond Insurance, First Mutual Reinsurance, FMRE Property & Casualty (Botswana), First Mutual Wealth Management, First Mutual Properties, First Mutual Funeral Services and First Mutual Microfinance. First Mutual Holdings Limited is listed on the Zimbabwe Stock Exchange.

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