Edgars HY2023 Financial Results

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February 24, 2021

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 through Zimbabwe’s first hyperinflation period which peaked in 2008. At the time of retirement he was the Chairman of the Remuneration Committee and a member of the Audit and Risk Committee.

He was key in mobilising resources for re-launching the business in 2009. As a career banker of note and former Reserve Bank Governor, the company benefited immensely from his contributions over the years. The Board, management and staff wish Dr Tsumba well in his future endeavours.

Appointment: Happiness Vundla – CA (Z)
Ms Vundla was appointed to the Board effective 3 December 2020. Happiness is currently the Finance Director at Sub-Sahara Capital Group Zimbabwe and a member of the Accounting Practices Committee of the Institute of Chartered Accountants of Zimbabwe (ICAZ).

She has extensive experience in public audit practice in listed companies after 14 years at Ernst & Young Zimbabwe where she was an Associate Director. Ms Vundla is a Chartered Accountant (Zimbabwe) and is pursuing the Chartered Financial Analyst (CFA) qualification.

The Board congratulates her on her appointment and looks forward to her contribution.

BY ORDER OF THE BOARD

V. K. Nxumalo
Company Secretary