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OKZ.zw | Dividend announcement

Wed, 12 Jun 2013 17:00:00 PDT

NOTICE is hereby given that on 7 June 2013 the Board of Directors declared a final dividend (number 16) of 0.40 cents per share payable out of the profits of the company for the year ended 31 March 2013. The dividend will be payable in United States Dollars to shareholders registered in the books of the Group at the close of business on 28 June 2013. Dividend warrants will be posted or direct payments made on or about 2 July 2013. The share register of the Group will be closed from 29 June to...

OK Zimbabwe releases FY2013 abridged results and analyst presentation

Wed, 12 Jun 2013 05:00:00 PDT

OK Zimbabwe is pleased to announce the release of its 2013 audited results and analyst presentation for the full year ended 31 March 2013. Below are the financial highlights and an extract from the Chairman's Statement: Mr V. W. Zireva - Chief Executive Officer (left), Mr A. E. Siyavora - Finance Director (center) and Mr A. R. Katsande - Chief Operating Officer (right) , at the FY2013 results analyst briefing. Highlights Revenue up 16.3% to $479.6 million Profit for the...

ECOCASH now in OK Zimbabwe Limited stores

Tue, 11 Dec 2012 16:00:00 PST

Zimbabwe’s largest supermarket chain, OK Zimbabwe Limited, has become the first major retailer to be connected to EcoCash, Econet Wireless’ mobile money service. OK has assumed an EcoCash “Super-Agent” status, and will be performing agent services for EcoCash throughout its branches across the country. Under this partnership, every OK outlet will now register customers for EcoCash and also perform cashing in and cashing out functions for EcoCash. In a joint statement...

OKZ.zw | Dividend announcement

Tue, 20 Nov 2012 17:00:00 PST

Notice is hereby given that on 15 November 2012 the Board of Directors declared an interim dividend (number 14) of 0.20 cents per share payable out of the profits of the Group for the half year ended 30 September 2012. The dividend will be payable on or about 14 January 2013 in United States Dollars to shareholders registered in the books of the Group at the close of business on 21 December 2012. The share register of the Group will be closed from 22 December 2012 to 28 December 2012, both...

OKZ.zw | HY2013 unaudited results released

Tue, 20 Nov 2012 17:00:00 PST

OK Zimbabwe announces the release of its unaudited results and analyst presentation for the six months ended 30 September 2012. Below are the financial highlights: Financial Highlights Revenue up 24.6% to $231.2 million Profit for the period up 25.8% to $4.9 million Earnings per share up 21.1% to 0.46 cents Interim dividend of 0.20 cents per share Related downloads: OKZ.zw | HY2013 financial results OKZ.zw | HY2013 financial results presentation

OKZ.zw | Release of 2012 annual report

Sun, 08 Jul 2012 17:00:00 PDT

The Directors of OK Zimbabwe Limited are pleased to announce the release of the Group's 2012 annual report for the year ended 31 March 2012. Below is an extract of the Chairman's Statement and a few financial highlights. Chairman's Statement Overview: Consolidating growth The Zimbabwean economy has continued to respond favourably to the multi- currency regime during the year under review. However, re-capitalisation constraints, liquidity challenges and low capacity...

OK Zimbabwe: Notice of Annual General Meeting

Mon, 02 Jul 2012 05:00:00 PDT

NOTICE IS HEREBY GIVEN THAT the Eleventh Annual General Meeting of Members of OK Zimbabwe Limited will be held in the OKmart Functions Room, First Floor, OKmart, 30 Chiremba Road, Hillside, Harare on Friday 27 July 2012 at 10:OO hours for the following purposes: Ordinary Business To receive and adopt the Financial Statements for the year ended 31 March 2012, together with the Report of the Directors and Auditors thereon. To appoint Directors: In terms of the Company's Articles of...

OK Zimbabwe releases FY2012 abridged results and analyst presentation

Tue, 05 Jun 2012 05:00:00 PDT

OK Zimbabwe is pleased to announce the release of its 2012 audited results and analyst presentation for the full year ended 31 March 2012. Listed below are the financial highlights and an extract from the Chairman's Statement: Highlights Revenue up 60% to $412.6 million Profit for the year increased by 140% to $10.3 million Attributable earnings per share up by 133% to 1 cent Final dividend of 0.35 cents per share Chairman's Statement Overview:...

OK Zimbabwe: Notice of final dividend

Tue, 05 Jun 2012 05:00:00 PDT

NOTICE is hereby given that on 1 June 2012 the Board of Directors declared a final dividend (number 13) of 0.35 cents per share payable out of the profits of the company for the year ended 31 March 2012. The dividend will be payable in United States Dollars to shareholders registered in the books of the Group at the close of business on 22 June 2012. Dividend warrants will be posted or direct payments made on or about 28 June 2012. The share register of the Group will be closed from 23 to 25...

OK Grand Challenge launched

Thu, 12 Apr 2012 17:00:00 PDT

The 24th edition of the OK Grand Challenge Jackpot Promotion was successfully launched at all the retailer’s outlets across the country yesterday. Customers will be given seven coupons for every $5 they spend in any OK store. The coupons are for a car draw, residential stand, cash draw, shop easy raffles, lucky dip, horse forecaster and tote bet. The promotion, which is being run under the theme “Shop, Gallop and Win”, will run for seven weeks and the final draw will be...

OK Zimbabwe: Notice of interim dividend

Tue, 29 Nov 2011 04:00:00 PST

Notice is hereby given that the Company has declared an interim dividend No. 13 of 0.15 United States cents for six months ended 30 September 2011. The important dates pertaining to this dividend for shareholders trading on the ZSE are as follows: Record date 16 December 2011 Register closes 17 December 2011 Register re-opens 19 December 2011 ...

OK Zimbabwe releases 2012 interim results and presentation

Wed, 23 Nov 2011 04:00:00 PST

OK Zimbabwe is pleased to announce the release of its unaudited results and analyst presentation for the six months ended 30 September 2011. Below are the financial highlights: Revenue up 61% to $185.6 million Profit for the year up 1,099% to $3.9 million Earnings per share up 1,167% to 0.38 cents Dividend of 0.15 cents per share The 2012 interim report and presentation are available for download in the 'Downloads' section of the OK Zimbabwe website or by...

OK Zimbabwe: Interim results briefing to 30 September 2011

Tue, 15 Nov 2011 04:00:00 PST

The OK Zimbabwe Limited analyst briefing and results presentation in respect of the half year ended 30 September 2011 will be held at the Main Lounge, Royal Harare Golf Club, at 1500 hours on Wednesday 23 November, 2011.

OK Zimbabwe: a grand campaign

Mon, 07 Nov 2011 04:00:00 PST

We at OK Zimbabwe were proud, this year, to run the 23rd OK Grand Challenge Horse race, along with the usual promotional activities that have helped change the retail promotional landscape over the past 23 years. The event this year is the second since dollarisation. The excitement about this year's OK Grand Challenge Jackpot promotion extended from OK Zimbabwe through to our partners and customers, who have supported this event in more numbers than previous years. The promotion started...

Bon Marche Westgate branch opens

Thu, 25 Aug 2011 05:00:00 PDT

Join in the excitement as we open a new Bon Marche branch at Westgate. We've planned activities for the children too, so bring them along. See details below. See you there!

OK Zimbabwe trading update: 28 July 2011

Thu, 28 Jul 2011 05:00:00 PDT

The company achieved revenue of $89.0 million against a budget of $82.5 million in the first quarter of F12, representing growth of 59.8% over prior year. OK Mart contributed 8.3% to this revenue. Like for like growth in sales was 46.5% while overheads are up 51% including OKMart and 40.3% excluding OKMart. Gross profit margin has been maintained at 17.9% for the supermarkets (17.7% inc. OKMart) against 17.8% achieved last financial year. Efforts continue to improve the profit margins through...

OK Zimbabwe: Annual General Meeting results

Thu, 28 Jul 2011 05:00:00 PDT

Members are hereby advised that the following Resolutions were unanimously passed without alterations or amendments at the Annual General Meeting of members of OK Zimbabwe Limited held on 28 July 2011. ResolutionsResults 1. Adoption of Financial Statements for the year ended 31 March 2011 Passed 2. Re-appointment of Directors (D. B. Lake and F. T. Kembo) ...

OK Zimbabwe releases 2011 annual report

Wed, 20 Jul 2011 05:00:00 PDT

The Directors of OK Zimbabwe Limited are pleased to announce the release of the Group's 2011 annual report for the year ended 31 March 2011. Below is an extract of the Chairman's Statement and a few financial highlights. Chairman's Statement Overview: Growth in a challenging environment The macro-economic environment was stable throughout the period under review. The Gross Domestic Product is estimated to have grown by more than 8% whilst average annual inflation was about...

OK ZIMBABWE: Notice of Annual General Meeting

Wed, 06 Jul 2011 05:00:00 PDT

NOTICE IS HEREBY GIVEN THAT the Tenth Annual General Meeting of Members of OK Zimbabwe Limited will be held at OK House, 7 Ramon Road, Graniteside, Harare on Thursday, 28 July, 2011 at 10:00 hours for the following purposes: Ordinary Business To receive and adopt the Financial Statements for the year ended 31 March 2011, together with the Report of the Directors and Auditors thereon. To appoint Directors: In terms of the Company's Articles of Association...

OK Zimbabwe releases 2011 abridged results

Tue, 07 Jun 2011 05:00:00 PDT

OK Zimbabwe is pleased to announce the release of its 2011 audited results for the year ended 31 March 2011. Listed below are the financial highlights: Revenue up 37% to $257,4 million Profit for the year up 250% to $4,3 million Earnings per share (cents) up 153% to 0.43 Dividend of 0.21 cents per share The 2011 abridged report is available for download in the 'Downloads' section of the OK Zimbabwe website or by clicking on the link below. 2011 abridged...

OK Zimbabwe: Notice of dividend declaration

Tue, 07 Jun 2011 05:00:00 PDT

Notice is hereby given that on 3 June 2011, the Board of Directors of OK Zimbabwe Limited declared a final dividend (number 12) of 0.21 cents per share payable out of the profits of the company for the year ended 31 March 2011. The dividend will be payable in United States Dollars to Shareholders registered in the books of the company at the close of business on 24 June 2011. Dividend warrants will be posted or direct payments made on or about 29 June 2011. The share register of the company...

OK ZIMBABWE: Notice of FY2011 analyst briefing

Mon, 16 May 2011 17:00:00 PDT

Shareholders are advised that we have an analysts briefing for the financial results for the year ended 31 March 2011. The FY2011 financial results in respect to the financial period are expected to be released on the same date. Below are the details pertaining to the analyst briefing. Date: Tuesday, 7 June 2011 Time: 1100 hours Venue: OK House, 7 Ramon Road, Graniteside, Harare

OK Zimbabwe assumes management control and re-brands Makro

Thu, 31 Mar 2011 05:00:00 PDT

OK Zimbabwe Limited ,("OK") recently concluded a transaction to acquire the two Makro operations in Zimbabwe comprising of 8000m2 of retail space in Harare and 5000m2 in Bulawayo. Ownership of Makro's operations was assumed at the end of February 2011 and a new brand store opens following a re-branding campaign. Commenting on the transaction, Mr Willard Zireva CEO, OK Zimbabwe, said "We have also assumed the employment of over two hundred employees which enables us to retain key skills in...

OK ZIMBABWE releases 2011 interim results

Fri, 19 Nov 2010 04:00:00 PST

The Directors of OK Zimbabwe Limited are pleased to announce the release of the Group's unaudited financial results for the six months ended 30 September 2010. Below is an extract from the Chairman's Statement: CHAIRMAN'S STATEMENT OVERVIEW The macro-economic stability and recovery ushered in by the introduction of multi-currency trade has endured. However, in the period under review limited liquidity in the market restricted local manufacturing of products while low...

OK ZIMBABWE: Trading update - 4 months to 31st July 2010

Sun, 22 Aug 2010 17:00:00 PDT

The Company achieved revenue of US$73.9 million against a budget of US$75.3 million, representing a growth of 68% over the prior year. Sales volumes have been negatively impacted by the Government ban on imports of mainly chickens, milk and other meat products with local production not able to meet demand. Profit margins for the period came off to around 18% against 19% achieved in the last financial year mainly due to sales mix being weighted towards low margin basic food products as well as...

OKZIMBABWE: Results of the 2010 Annual General Meeting

Wed, 18 Aug 2010 17:00:00 PDT

Members are hereby advised that the following Resolutions were unanimously passed without alterations or amendments at the Annual General Meeting of members of OK Zimbabwe Limited held on 4 August 2010:Ordinary resolutions passed Adoption of Financial Statements for the year ended 31 March 2010 Re-appointment of Directors (M. Tapera and M. T Rukuni) Approval of Auditors' fees for the past financial year and re-appointment of Auditors of the...

OK ZIMBABWE: Results of the Annual General Meeting

Wed, 18 Aug 2010 17:00:00 PDT

OK Masvingo part of the fabric of the town

Tue, 03 Aug 2010 17:00:00 PDT

OK Masvingo is part of OK Zimbabwe, a Stock Exchange listed company which boasts of 49 branches nationwide under its four brands. OK Zimbabwe was founded in 1940, with the first store being opened on First Street in Harare that year. Masvingo Branch was opened 31 years later in 1971. OK Zimbabwe currently has 19 OK stores in Harare, another 19 across the country, six stores under the Pax Cash&Carry brand and five stores under the Bon Marche brand. With 38 years in Masvingo,...

OK Zimbabwe releases 2010 annual report

Sun, 25 Jul 2010 17:00:00 PDT

The Directors of OK Zimbabwe Limited are pleased to announce the release of the Company's 2010 annual report. Chairman's StatementOverview - Introduction The year 2009 saw the end of a decade of persistent economic decline, with the economy starting to show signs of recovery. The advent of the multi-currency environment in February 2009 brought about macroeconomic stability and resulted in the economy beginning to register positive growth...Company performanceRevenue generated during the...

OK Zimbabwe re-opens Masvingo branch

Tue, 20 Jul 2010 17:00:00 PDT

OK Masvingo is now open for your convenience, visit us at 222/5 Josiah Tongogara Avenue and enjoy shopping with our friendly staff, in a wide range of Products at OK prices. Wezhira is now OK in Masvingo. Click here for the full advert

OK ZIMBABWE: Notice of ninth Annual General Meeting

Mon, 12 Jul 2010 17:00:00 PDT

NOTICE IS HEREBY GIVEN THAT the Ninth Annual General Meeting of Members of OK Zimbabwe Limited will be held at OK House, 7 Ramon Road, Graniteside, Harare on Wednesday, 4 August, 2010 at 09:00 hours for the following purposes: Ordinary Business To receive and adopt the Financial Statements for the year ended 31 March 2010, together with the Report of the Directors and Auditors thereon. To appoint Directors: In terms of the Company's Articles of Association...

OK ZIMBABWE releases 2010 abridged results

Wed, 02 Jun 2010 17:00:00 PDT

OK Zimbabwe Limited is pleased to announce the release of the 2010 abridged report for the year ended 31 March 2010. Financial Highlights: US$ Revenue : 187,522,642 Operating profit : 2,538,616 Profit for the year ...

OKZIM: Notice of launch of OK Zimbabwe investor relations website and invitation to register

Sun, 25 Apr 2010 17:00:00 PDT

The Board and Management of OK Zimbabwe Limited (OK Zim) are pleased to announce the launch of the OK Zim investor relations website on OKZiminvestor.com. The website is content-rich, interactive and encourages feedback from you at every opportunity. The management would like to hear from you, and invites you to register on this new interactive website to keep up to date with all developments in OK Zim and access all the information you need to monitor management's efforts to create...

SA equity fund acquires 7pc stake in OK Zim

Wed, 14 Apr 2010 17:00:00 PDT

South Africa's Investec Africa Frontier Private Equity Fund has acquired a 7 percent equity in OK Zimbabwe. The Fund, an arm of Investec Asset Management, snatched up 29,6 percent of OK's US$15 million rights offer, which received a 70,4 percent shareholder support, to make it one of the most successful rights offers this year. The latest development puts the Investec Asset Management arm on course to acquire at least 15 percent of the Zimbabwe Stock Exchange-listed retail group after the...

OK rights offer raises US$15m

Wed, 14 Apr 2010 17:00:00 PDT

OK ZIMBABWE has shown its attractiveness after raising US$15 million through a renounceable rights offer in a rather dry market. A successful rights offer concluded this week paves the way for a US$5 million convertible loan, which leaves the retail chain US$20 million richer. At US$20 million, OK Zimbabwe, spurned by South Africa's Shoprite last year, is now able to recapitalise its operations which have been affected by high inflation, price controls and a general economic decline. The...

Results of the Renounceable Rights Offer

Tue, 13 Apr 2010 17:00:00 PDT

Members are advised that a Rights Offer was made to the registered holders of ordinary shares in OK Zimbabwe Limited as at 26 March 2010 to subscribe for 250,375,139 (two hundred and fifty million, three hundred and seventy five thousand, one hundred and thirty nine) new ordinary shares in the share capital of OK Zimbabwe Limited, at a subscription price of US$0.06 (zero comma zero six United States dollars) per ordinary share, on the basis of 3.42 (three comma four two) new ordinary shares for...

OK Grand Challenge 2010

Mon, 12 Apr 2010 17:00:00 PDT

We at OK Zimbabwe Limited are proud this year to run the 22nd OK Grand Challenge Jackpot Promotion along with the usual Horse race, exciting promotional activities as we celebrate 70 years of trading in Zimbabwe. The event this year will be bigger, better and more exciting than ever before as OK Zimbabwe reclaims top-spot in the retail sector in Zimbabwe. The mood and excitement in this year's OK Grand Challenge Jackpot Promotion extends from OK Zimbabwe through to our supplier partners and...

OK ZIM: Invitation to interact with us

Sun, 11 Apr 2010 17:00:00 PDT

Dear Investors, You will be aware from recent publications that OK Zimbabwe Limited is currently raising US$20m through equity capital and convertible debt. These recapitalisation initiatives will enhance our financial strength as a business and assist our 49 branches countrywide (operating from in excess of 74,000 square metres of retail trading floor space) to compete effectively and strengthen our position as a dominant retailer in Zimbabwe. We have also embarked on a progressive online...

OK Zimbabwe Rights Offer closes

Thu, 08 Apr 2010 17:00:00 PDT

The OK Zimbabwe Limted Renounceable Rights Offer which opened on Monday, 29 March 2010 following the approval of the recapitalisation plan by shareholders at the EGM on 25 March has closed today.The results of the Rights Offer are expected to be announced on Tuesday, 13 April 2010, with the Rghts Offer shares being issued and listed on the Zimbabwe Stock Exchange the following week. The recapitalization drive is being carried out through a combination of equity (US$15,000,000.00 Rights Offer)...

OK Zim rights offer opens today

Sun, 28 Mar 2010 17:00:00 PDT

OK Zimbabwe rights offer opens today following the approval of the recapitalisation plan by shareholders last week. The firm is seeking to raise US$20 million through a combination of a US$15 million rights issue and a convertible loan of US$5 million. An integral part of the transaction is the introduction of South Africa's Investec Asset Management as a value-adding shareholder and equity partner to OK. All resolutions on the agenda received sufficient votes to go through. OK, with the...

OK ZIMBABWE: Results of the Extraordinary General Meeting

Thu, 25 Mar 2010 17:00:00 PDT

OK Zimbabwe Ltd's Extraordinary General Meeting held on 25 March 2010 at 1000 hours at OK House, 7 Ramon Road, Graniteside, Harare, was successful. All special and ordinary resolutions were unanimously passed without alterations or amendments. The resolutions were as follows: Resolution Result Special Resolutions:- ...

OK Zimbabwe: Notice of change of date of EGM

Sun, 21 Mar 2010 17:00:00 PDT

Members of OK Zimbabwe Limited (the "Company") are hereby advised that the date of the Extraordinary General Meeting ("EGM") of the members of the Company originally scheduled to be held on 9 March 2010 will now be held on 25 March 2010, at 1000 hours at OK House, 7 Ramon Road, Graniteside, Harare. Members of the Company are further advised that the proposed resolutions have been amended as follows: As Special Resolutions:- Re-denomination of the authorised ordinary share...

OK Zimbabwe opens rights offer season

Wed, 10 Mar 2010 16:00:00 PST

OK Zimbabwe is to take its bid for working capital to the vote in a move that signals a growing appetite for rights issues by cash-hunting Zimbabwe Stock Exchange (ZSE)-listed companies this year. A significant number of listed firms are struggling with working capital constraints as a result of the dollarisation of the economy last year, which brought stability to the markets. But the severe liquidity crunch has almost wiped out working capital for companies battling to turn the corner from...

OK Zimbabwe on recapitalisation drive

Thu, 18 Feb 2010 16:00:00 PST

OK Zimbabwe Limited intends to raise US$20 million to recapitalise operations through a rights offer and private placement. The company said it envisaged to raise US$15 million through a rights offer while US$5 million would be raised through a private placement. OK has been closing down some branches in recent months due to low business and stiff competition. The retail chain requires working capital to restock most of its outlets, which have remained under-stocked. The company intends...

OK Zimbabwe: Further cautionary notice

Thu, 14 Jan 2010 16:00:00 PST

Further to the cautionary notice published on 15 December 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisers in dealing with their shares in the company. By order of the Board L. Murinda Company Secretary 14 January 2010

OK Zimbabwe: Further cautionary notice

Tue, 15 Dec 2009 16:00:00 PST

Further to the cautionary notice published on 21 November 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisors in dealing with their shares in the company. By order of the Board L. Murinda Company Secretary 15 December 2009

OK Zimbabwe: Dollarisation Boosts Income

Thu, 10 Dec 2009 16:00:00 PST

OK Zimbabwe Ltd, the country's largest retail consumer group, generated US$76,6 million in revenue, while operating income amounted to US$2,8 million powered by the dollarisation of the economy in January. In their financial results for the interim period ending September 30 2009, OK Zimbabwe chairman Dave Lake said high stocking levels were underpinned by credit from third party suppliers as well as credit from local banks. During the period under review, the group said the bulk of the...

OK Zimbabwe stocks up for festive season

Tue, 01 Dec 2009 16:00:00 PST

OK Zimbabwe Limited, Zimbabwe's largest retail company by market share, says it has adequately stocked its entire branch network ahead of the festive season. In its financial statement for the interim period ending 30 September 2009, OK said high stocking levels are underpinned by credit from third party suppliers as well as credit from local banks. During the period under review, the group said the bulk of the merchandise was imported from South Africa as local manufacturers are still...

OK Zimbabwe: Further Cautionary Notice

Sun, 22 Nov 2009 16:00:00 PST

Further to the Cautionary notice published on 22 October 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisors in dealing with their shares in the company L. Murinda Company Secretary 21 November 2009

OK Zimbabwe: Further cautionary statement

Thu, 22 Oct 2009 17:00:00 PDT

Further to the cautionary notice published on 23 September 2009, OK Zimbabwe Limited advises its shareholders that negotiations are still in progress. Shareholders are accordingly advised to continue exercising caution and to consult their professional advisors in dealing with their shares in the company. By order of the Board L. Murinda Company Secretary 22 October 2009