Corporate Announcements

Chairman’s Statement Directors responsibility for the Integrated Annual ReportThe Directors of Edgars Stores Limited are responsible for the preparation and fair presentation of the Group’s consolidated financial statements. This press release represents an extract thereof. The audited financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), in the manner required by […]

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 09 January 2022 by the 31st of May 2022 per the ZSE listing rules. The delay has been as a result of several areas of the audit remaining outstanding which have […]

Appointment: Mr Christo Claassen CA (SA) Mr C. Claassen was appointed to the board as an independent non-executive director, effective 1 March 2022. Christo is currently the Founder and CEO of Fortuna Investment Holdings (Cape Town), an investment holding company that focuses on investment in consumer-facing businesses. He is a qualified chartered accountant and also […]

OPERATING ENVIRONMENT The Quarter ended 10 April 2022 was characterised by an increase in inflation levels from 60.7% in December 2021 to 72.7% in March 2022. The rise in inflation has resulted in an increase in operating costs, with occupancy, employment, fuel and the cost of transacting being some of the significant costs that are […]

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 09 January 2022 by the 30th of April 2022 per the ZSE listing rules. The delay has been as a result of IAS 29, IFRS 16 and IAS 21 work finalisation […]

The company presents its business update for fourth quarter ended 10 January 2021. Trading Environment The company recorded revenue growth across all business units during the quarter, particularly in December. The availability of merchandise, improved civil servants salaries, year-end bonuses and an enhanced credit offering to customers contributed positively to this growth. Notwithstanding this growth, […]

The Edgars Stores Limited Board of Directors wishes to announce the following changes to its composition: NON EXECUTIVE DIRECTORS Retirement: Dr Leonard Ladislas Tsumba – (PhD)Dr Tsumba has retired from the Board effective 3 December 2020. He was appointed to the Board in 2006 and was a member of the team that navigated the business […]

The company presents the business update for third quarter ended 4 October 2020. Trading Environment The macroeconomic operating environment improved this quarter as characterised by exchange rate stability and slowing ination. As a result the company cautiously extended more credit to customers thereby increasing the number of feet in our stores. Access to funding remained […]

Group Chairman’s Statement The statement is prepared on the basis of inflation adjusted numbers. Business Overview Material disruptions stemming from COVID-19 had a significant impact on the group’s performance, most significantly in April and May due to enforced lockdowns.Since then sales have been steadily recovering. Units sold to end of June trading declined from 1.6 […]

The Board wishes to advise its stakeholders that 5 493 162 new ordinary shares, being 2% of the 274,658,112 Rights Offer Shares, will be issued from the 95 752 219 ordinary shares of the balance of the authorised but unissued ordinary shares of the Company placed under the control of the Directors, to Annunaki Investments […]

The following are the results of the Edgars Stores Limited Rights Offer which closed on 21 August 2020. Number of Rights Offer shares 274 658 112 Ordinary Rights Offer Shares subscribed 144 291 331 Percentage Subscription 53% Percentage taken by the Underwriter 47% Ordinary Shares issued to the Underwriter 130 366 781 The shares were […]

The company presents the business update for second quarter ended 5 July 2020. Trading Environment The conditions carried over from the first quarter remain largely unchanged as impacted by an unstable macro-economic environment exacerbated by the effects of Covid-19. Sales were trending upwards since lockdown relaxation but have been hampered by shortened trading hours enacted […]

The Board wishes to advise its stakeholders that following the unanticipated delays in the reopening of the Zimbabwean Stock Exchange (“ZSE”), Edgars Stores Limited “Edgars” has decided to further extend the Rights Offer Period. The following new deadline dates and time will apply: Dealing and splitting of letters of allocation 14 August 2020 at 12:00 […]

The Board wishes to advise its stakeholders that following the unanticipated delays in the reopening of the Zimbabwean Stock Exchange (“ZSE”), Edgars Stores Limited “Edgars” has decided to further extend the Rights Offer Period by an additional one (1) week. Resultantly the Rights Offer closure date has been extended to Friday the 14th of August […]

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 […]