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Powerspeed Electrical 2020 Annual Report

In the Chairman's Statement, Dr. S.H. Makoni discusses the significant impact of the COVID-19 pandemic on Zimbabwe's economy, highlighting challenges like hyperinflation and legislative changes. Despite these hurdles, Electrosales experienced strong growth, capturing market share from competitors. The operational outlook remains positive with the opening of a new branch and the launch of a 24-hour call center. The company announced a dividend for shareholders and remains committed to a robust growth strategy and value creation, even after delisting from the Zimbabwe Stock Exchange.

By |2025-03-05T15:07:18+02:00February 10, 2021|Corporate Announcement|0 Comments

Powerspeed Electrical – Disclosure Guidelines for Over The Counter Trading

Powerspeed Electrical Limited's Disclosure Guidelines outline critical definitions related to authorized communication, material information, and fair trading practices. The company emphasizes timely and transparent dissemination of material, non-public information to prevent selective disclosure. It details prohibited communication during closed periods surrounding earnings announcements and outlines how earnings guidance and forecast information should be managed. Employees and board members must adhere to these guidelines to ensure compliance with insider trading regulations and support informed investment decisions. For more information, visit Powerspeed's investor relations website.

By |2021-01-11T14:47:50+02:00January 11, 2021|Uncategorized|0 Comments

Powerspeed Electrical – Insider Trading Guidelines for Over The Counter Trading

Powerspeed Electrical Limited has established Insider Trading Guidelines effective January 11, 2021, to prevent insider trading violations among its Directors, Managers, Employees, and related individuals. All Insiders are prohibited from trading shares based on Material Non-public Information until its public disclosure. Strict pre-clearance processes for trading are required, and trading is limited to specific windows. Violations can result in disciplinary actions, including dismissal. For inquiries, contact the Chief Executive Officer.

By |2021-01-11T14:05:27+02:00January 11, 2021|Uncategorized|0 Comments

Powerspeed Electrical – Guide to the Company Share Buyback

On December 14, 2020, Powerspeed Electrical Limited's Board authorized an over-the-counter (OTC) trading framework effective January 11, 2021, enabling shareholders to buy and sell shares outside the Zimbabwe Stock Exchange after its delisting. The initial offer price was set at ZWL 6.70 per share, with weekly updates on trading prices, bid-offer volumes, and market data available on the company website. Shareholders trading under 1,000 shares will have trading commissions covered. For inquiries, Imara Securities Limited serves as the sponsoring broker.

By |2021-01-11T13:43:17+02:00January 11, 2021|Uncategorized|0 Comments

Powerspeed Electrical – Guide to Over The Counter Trading

Powerspeed Electrical Limited provides a framework for over-the-counter (OTC) trading of its shares following its delisting from the Zimbabwe Stock Exchange. Key elements include the appointment of Imara Securities as the sponsoring broker and First Transfer Secretaries as the settlement and transfer agent. The company's website is the primary source for share trading data and corporate information. Shareholders are informed about trading procedures, costs, and dividend announcements, and are encouraged to ensure their banking details are up-to-date for efficient dividend processing.

By |2021-01-11T13:10:18+02:00January 11, 2021|Uncategorized|0 Comments

Powerspeed Electrical – Commencement of Over the Counter (“OTC”) share trading at ZWL 6.70 per share

Powerspeed Electrical has initiated a Weekly Buyback Offer starting January 11, 2021, aiming to purchase up to 20,000 ordinary shares daily at ZWL $6.70 per share. Weekly prices and trading data will be updated on the company’s investor relations website every Monday. Shareholders can trade shares above this buyback price via the Sponsoring Broker. Additional resources, including guides on OTC trading and buyback procedures, are available online. For inquiries, shareholders should contact the Transfer Secretaries or register for corporate action alerts on the website.

By |2021-01-11T10:39:37+02:00January 11, 2021|Uncategorized|0 Comments

Powerspeed Electrical Audited Abridged Consolidated Financial Statements for the year ended 30 September 2020

In the Chairman's Statement, Dr. S. H. Makoni reflects on the significant impact of the COVID-19 pandemic and related economic challenges faced in Zimbabwe. Despite these difficulties, the company saw a strong recovery post-lockdown, growing market share and throughput. The introduction of the USD helped stabilize operations. Powerspeed Electrical opened a new branch and maintained a commitment to staff training and customer service. As a public company, it has delisted from the Zimbabwe Stock Exchange but remains dedicated to shareholder value, announcing a dividend of ZWL 4.75 cents per share.

By |2020-12-30T15:50:16+02:00December 30, 2020|Uncategorized|0 Comments

Powerspeed Electrical Notice to Shareholders: Cash Dividend Offer

Notice is given of a final dividend of 4.75 cents per share, declared by the board for the year ended September 30, 2020. This dividend is payable to shareholders registered by January 8, 2021. Election forms detailing payment options in Zimbabwe or United States Dollars will be mailed on January 15, 2021. Shareholders must submit their choices by February 5, 2021, with default payments in Zimbabwe Dollars if no election form is received. Key dates include dividend announcement on December 30, 2020, and payment on February 8, 2021.

By |2020-12-30T08:48:52+02:00December 30, 2020|Uncategorized|0 Comments

Powerspeed Electrical – Over the Counter Share Trading and Share Buyback

On December 18, 2020, Powerspeed's ordinary shares were officially delisted from the Zimbabwe Stock Exchange following resolutions passed at the Extraordinary General Meeting (EGM) on December 14, 2020. The company has been authorized to buy back up to 384,438,929 ordinary shares at or below their net book value. The share buyback offer, previously set at ZWL 190 cents, concluded alongside the delisting. An Over the Counter Trading mechanism is being implemented and expected to start on January 11, 2021. Shareholders can register for updates on the company’s investor relations website.

By |2020-12-21T10:38:32+02:00December 21, 2020|Uncategorized|0 Comments

Powerspeed Electrical | Extraordinary General Meeting Results

On December 14, 2020, Powerspeed Electrical Limited held an Extraordinary General Meeting where all proposed resolutions were unanimously approved by shareholders, each receiving 100% support. Key decisions included conducting meetings virtually due to the Covid-19 pandemic, voluntarily terminating the company's listing on the Zimbabwe Stock Exchange, and authorizing share buybacks. The termination of the listing is set for December 18, 2020. The Board thanked shareholders for their support. By order of the Board, Martin Gurira, Company Secretary.

By |2020-12-16T10:25:52+02:00December 16, 2020|Uncategorized|0 Comments
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