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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse;border:none'><tr><td width=623 valign=top style='width:467.5pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal><a href="mailto:bulls@bullszimbabwe.com"><b><span style='font-size:12.0pt;line-height:105%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white;text-decoration:none'><img border=0 width=606 height=202 style='width:6.3125in;height:2.1041in' id="Picture_x0020_14" src="cid:image002.jpg@01D83913.1D654E90"></span></b></a><o:p></o:p></p></td></tr><tr><td width=623 valign=top style='width:467.5pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>On A Date with </span></b><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>ZHL <span style='color:#0F1419'><o:p></o:p></span></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Dating is a critical stage to any investor considering to take a position on any asset class even shares.<b><o:p></o:p></b></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#1. History,<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=333 height=259 style='width:3.4652in;height:2.7013in' id="Picture_x0020_13" src="cid:image003.png@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1983, an Act of Parliament enacts the Zimbabwe Reinsurance Corporation Act (24:17)<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The purpose of the act was to, <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Locatization of insurance through ownership<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Reduce foreign currency outflows by reinsuring.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Wealth creation.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=353 height=212 style='width:3.6805in;height:2.2083in' id="Picture_x0020_12" src="cid:image004.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1984, the Act leds to the formation of ZimRe with seed capital from Government of Zimbabwe (GOZ).<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1985, ZimRe establish the Zimbabwe Insurance Brokers (ZIB), 3 years later acquires Legal & General now Fidelity.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1988, ZimRe introduce non life business.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=288 height=202 style='width:3.0in;height:2.1041in' id="Picture_x0020_11" src="cid:image005.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The non life business is brought about by the acquisition of National Employment Mutual which is now National Insurance Company of Zimbabwe (NICOZ).<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1996, Diamond Insurance is acquired which is later merged to form NicozDiamond now owned by First Mutual.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=545 height=712 style='width:5.6805in;height:7.4166in' id="Picture_x0020_10" src="cid:image006.png@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1999, ZimRe established in Zambia and 3 years prior in Malawi. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Listing on the Zimbabwe Stock Exchange (ZSE) and the ZimRe Act is repealed.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2002, ZimRe restructure its business into a holding company Zimre Holdings (ZHL).<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2003, ZHL establish Zimre Property Investments to enhance liquidity and list it on the ZSE 3 years later.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Prior a subsidiary Fidelity Life Assurance (FLA) had been listed on the ZSE. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2009, Emeritus International Reinsurance is formed domiciled in Botswana.<br><br>A significant stake is acquired in an agro-industrial business, CFI Holdings.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2017, NicozDiamond sold off and a controlling interest in Credsure is bought.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2018, Rebranding of all the reinsurance operations under the Emeritus Reinsurance brand.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=441 height=245 style='width:4.5972in;height:2.5555in' id="Picture_x0020_9" src="cid:image007.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#2. Operations,<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZHL is a diversified holding company with core competencies in,<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Reinsurance<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Insurance<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Property <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The company has operations in 5 countries in the SADC region namely,<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraphCxSpFirst style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l1 level1 lfo1'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Zimbabwe<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l1 level1 lfo1'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Mozambique<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l1 level1 lfo1'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Malawi<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l1 level1 lfo1'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Botswana<o:p></o:p></span></li><li class=MsoListParagraphCxSpLast style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l1 level1 lfo1'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Zambia<o:p></o:p></span></li></ul><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=428 height=209 style='width:4.4583in;height:2.1805in' id="Picture_x0020_8" src="cid:image014.png@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#3. Business Units<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A total of 5 units are operated by ZHL which are,<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraphCxSpFirst style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l0 level1 lfo2'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Emeritus Reinsurance<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l0 level1 lfo2'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Fidelity Life Assurance<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l0 level1 lfo2'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Zimre Property Investments<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l0 level1 lfo2'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Credsure<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l0 level1 lfo2'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Zimre Capital <o:p></o:p></span></li></ul><p class=MsoListParagraphCxSpMiddle style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpLast style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:18.0pt;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=521 height=735 style='width:5.4305in;height:7.6597in' id="Picture_x0020_7" src="cid:image020.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Credsure<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A credit and short term insurance products provider.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Zimre Property Investments (ZPI)<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Offers property management services from design<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Operates a number of properties which include,<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><i><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Nicoz House<o:p></o:p></span></i></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A 194 unit building in Bulawayo for student accommodation. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><i><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Zimre Lodge<o:p></o:p></span></i></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Ideal for self catering whilst in Kariba.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=429 height=201 style='width:4.4652in;height:2.0902in' id="Picture_x0020_6" src="cid:image021.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><i><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Sawanga Mall, Victoria Falls<o:p></o:p></span></i></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>5000+ sqm single storey property with 23 units and a service station.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The units house retail shops, banks, speciality shops and offices. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=602 height=401 style='width:6.2708in;height:4.1805in' id="Picture_x0020_5" src="cid:image022.png@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><i><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Baobab MV Houseboat<o:p></o:p></span></i></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A luxury cruiser with 4 ensuite cabins and a fully equipped kitchen.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Emeritus Reinsurance<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A business that strives to be a leader in reinsurance and risk management.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Present in Zimbabwe, Zambia, Botswana, Mozambique and Malawi.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Reinsurance is insurance that an insurance company purchases from another insurance company.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Fidelity Life Assurance (FLA)<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A listed entity which is majority owned by ZHL. It is in the business of, <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraphCxSpFirst style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l2 level1 lfo3'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Life assurance<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l2 level1 lfo3'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Medical insurance<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l2 level1 lfo3'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Property development<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l2 level1 lfo3'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Actuarial services<o:p></o:p></span></li><li class=MsoListParagraphCxSpLast style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l2 level1 lfo3'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Microfinance<o:p></o:p></span></li></ul><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Zimre Capital <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>It is positioned to create wealth via Investment<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#4. Customers,<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Tenants, those renting its buildings such as PicknPay<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>NUST students<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Policyholders, develops insurance policies for individuals and institutions.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Tourists, with exposure to tourism through properties in Kariba.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Farmers, interests in CFI<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=602 height=339 style='width:6.2708in;height:3.5277in' id="Picture_x0020_4" src="cid:image023.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#5. Competitors,<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZHL markets are highly competitive though it had support from GOZ at its onset.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The competitors are local, regional and international which include,<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraphCxSpFirst style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l3 level1 lfo4'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>CBZ Holdings<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l3 level1 lfo4'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>First Mutual Holdings <o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l3 level1 lfo4'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Old Mutual<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l3 level1 lfo4'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Mashonaland Holdings<o:p></o:p></span></li><li class=MsoListParagraphCxSpMiddle style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l3 level1 lfo4'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>FBC Holdings<o:p></o:p></span></li><li class=MsoListParagraphCxSpLast style='color:#0F1419;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;mso-add-space:auto;line-height:115%;mso-list:l3 level1 lfo4'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:white'>Masawara Holdings<o:p></o:p></span></li></ul><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=602 height=401 style='width:6.2708in;height:4.1805in' id="Picture_x0020_3" src="cid:image024.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#6. Management<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Stanley Kudenga - Group CEO and Executive Director<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=447 height=407 style='width:4.6597in;height:4.243in' id="Picture_x0020_2" src="cid:image025.jpg@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>An astute Investment banker with 15+ years of delivering tangible results<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2006, FBC Reinsurance had negative equity but 6 years later it had the highest ROC<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2013, Worked at Maisha Capital.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#7. Share Price<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZWL3.69 / share as at March 15.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZWL 3.76 /share at the beginning of 2022.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1.9% loss YTD.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZWL6.7bn (US$28.56) market capitalisation <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>3rd most traded stock on the ZSE over the past 3 months to March 11.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1,818,218,786 issued shares.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#8. Shareholding,<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>33,81% of ZHL shares is owned by Day River Corporation an investment vehicle linked to the Rudland family.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The Rudland is a wealth Zimbabwean family which made their fortunes in logistics, agriculture and financials.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=348 height=345 style='width:3.625in;height:3.5902in' id="_x0000_i1094" src="cid:image026.png@01D83913.1D654E90"></span><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:16.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#9. Investor Pitch,<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Restructuring<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Businesses that are reconfiguring tend to create value. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• ZHL bought back ZPI from the market.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Rebranded their reinsurance business across the region.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Positioning Credsure to increase capacity to underwrite.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Majority shareholder<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Rudlands are known for their prowess in business consolidations with aim to create value. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZHL is a business ripe for consolidations after being removed from the targeted US sanctions.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Geographical Diversity<o:p></o:p></span></b></p><p class=MsoNormal style='line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><o:p> </o:p></p></td></tr><tr><td width=623 valign=top style='width:467.5pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Each week will be on a DATE with a company listed on the ZSE with Martin Mataga <b>Twitter</b> @MartinMataga. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The purpose of this thread is to assist investors to have a minimum appreciation of listed firms. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:115%'><b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Disclaimer</span></b><span style='font-size:12.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>: Do not misconstrue this thread as investment advice. DATE companies before you buy their shares.<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></td></tr><tr><td width=623 valign=top style='width:467.5pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><i><span style='font-size:12.0pt;font-family:"Segoe UI",sans-serif'>Invest Wisely!<o:p></o:p></span></i></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:12.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><b><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Bulls n Bears </span></b><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>WhatsApp: +27 71 544 4769<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Mobile/Voice: </span><span style='font-size:10.0pt'><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='font-family:"Segoe UI",sans-serif;color:windowtext;text-decoration:none'>+263 77 344 1674</span></a></span><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Alt. Email: </span><span style='font-size:10.0pt'><a href="mailto:info@bulls.co.zw"><span style='font-family:"Segoe UI",sans-serif;color:windowtext'>info@bulls.co.zw</span></a></span><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Website: </span><span style='font-size:10.0pt'><a href="http://www.bullszimbabwe.com"><span style='font-family:"Segoe UI",sans-serif'>www.bullszimbabwe.com</span></a></span><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Blog: </span><span style='font-size:10.0pt'><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw" target="_blank"><span style='font-family:"Segoe UI",sans-serif;color:windowtext'>www.bulls.co.zw/blog</span></a></span><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Twitter: @bullsbears2010<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>LinkedIn: Bulls n Bears Zimbabwe<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal;background:white'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Facebook: </span><span style='font-size:10.0pt'><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='font-family:"Segoe UI",sans-serif;color:windowtext'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height:normal'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'>Skype: Bulls.Bears <o:p></o:p></span></p><p class=MsoNormal style='line-height:normal'><span style='font-size:10.0pt;font-family:"Segoe UI",sans-serif'><img border=0 width=246 height=120 style='width:2.5625in;height:1.25in' id="Picture_x0020_1" src="cid:image027.png@01D83913.1D654E90"><o:p></o:p></span></p></td></tr></table><p class=MsoNormal><o:p> </o:p></p></div></body></html>