Corporate Announcements

The Board wishes to advise its stakeholders that following the closure of the Zimbabwean Stock Exchange (“ZSE”), Edgars Stores Limited “Edgars” has decided to extend the Rights Offer Period by an additional three (3) weeks and resultantly the Rights Offer closure date has been revised from the original date of Friday the 17th of July […]

The Board of Directors of Edgars Stores Limited is pleased to announce the appointment of Tjeludo is a career woman who holds among others, the Chartered Accountant (Zimbabwe) qualification. She joined the Edgars Group 8 years ago, coming from the profession where she had risen to the position of Audit Manager. She joined the Group […]

Announcement of the results of voting at the Extraordinary General Meeting of shareholders of Edgars Stores Limited held at 12:00 AM on 16 June 2020 regarding the proposed Renounceable Rights Offer of 274,745,630 ordinary shares of a nominal value of ZWL$0.01 each, at a Rights Offer price of ZWL$0.2548 per share, on the basis of […]

NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting (“EGM”) of the Members of Edgars Stores Limited (“Edgars ” or “the Company”) will be held at LAPF 1st Floor, Corner 8th Avenue and Jason Moyo Street in Bulawayo on Tuesday, 16 June at 1200 hours for the purpose of transacting the following business and consider […]

THE PROPOSED TRANSACTION The Board is proposing a Renounceable Rights Offer to recapitalize Edgars by way of a rights offer of 274,745,630 (Two hundred and seventy- four million, seven hundred and forty five thousand, six hundred and thirty) ordinary shares of a nominal value of ZWL$0.01 (1 ZWL Cent) each, at a Rights Offer price […]

Financial Reporting in Hyper Inflationary Economies – IAS 29 We are operating in a hyper inflationary environment and the entity will continue reporting in compliance with IAS 29. However, for this trading update, the Group reported based on historical cost. Group Performance The Group has not been spared from the impact of diminishing consumer purchasing […]

The Board of Directors of Edgars Stores Limited releases its 2019 audited financial results presentation, below are excerpts from the presentation. EXECUTIVE SUMMARY Functional currency: ZWL$. FY2020-LOOKING AHEAD

INTRODUCTION I am pleased to present the Edgars Stores Limited Group financial results for the 52 weeks ended 5 January 2020. The commentary on the financials is based on the inflation adjusted numbers. The historical numbers are shown as supplementary information as they have not been prepared in compliance with International Accounting Standard 29 – […]

Edgars Stores Limited would like to advise shareholders that the Group will not be able to publish its year end results for the 52 weeks ended 05 January 2020 by the 30th of April 2020 as previously announced. The delay has been a result of the restrictions brought about by the “Covid-19 pandemic”, induced lock […]

Edgars Stores Limited would like to advise shareholders that the company will not be able to publish year end results for the 52 weeks ended 05 January 2020 by the 30th of March 2020 per the ZSE listing rules. The delay has been a result of IAS 29 work that will take longer than anticipated. […]

The Directors of Edgars Stores Limited (“Edgars” or “the Company”) wish to advise all shareholders and the investing public that the company is engaged in discussions that involve a potential transaction that may have a material impact on the value of the Company’s shares. The transaction involves raising capital for the Company’s expansion initiatives through […]

The Group’s YTD turnover to September 2019 increased by 154% on last year while units sold were down 23%. The Group has not been spared from the impact of diminishing consumer purchasing power. EBITDA at $52.5 million was 604% up from last year. Inventory: The business is adequately stocked to meet the festive season demand. […]

The Company has received notice from SSCG Africa Holdings Limited that it has recently concluded a transaction in which it has acquired from Edcon Limited 127,138,510 shares (through Bellfield Limited) representing approximately 41,07% of the issued share capital of the Company. By Order of the Board B MpofuCompany SecretaryEdgars Stores Limited

CHAIRMAN’S STATEMENT FINANCIAL OVERVIEW Consumer spending was supressed, and continues to slow down, due to depressed salaries purchasing power. The business recorded negative unit growth, with only April and May performing positively in unit terms. In June, positive performance was again negatively affected by the introduction of mono currency. Cumulatively, units for the first half […]

Edgars Stores Limited would like to advise shareholders that it will not be able to publish its half year results to 30 June 2019 within the stipulated time frame which is ending on 30 September 2019. The delay has been caused by an internal system consolidation and we would like to assure our stakeholders that […]

The Group’s YTD PAT to May 2019 grew to Z$ 8.7million from $1.3 million last year while EBITDA increased by 524% to $16.3 million. Turnover was up 90% on last year but unit sales decreased by 16% with recent improvement for the Jet chain with positive unit growth for April of 6% and May, 10% […]