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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><div align=center><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><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='line-height:115%'><a name="_Hlk95685055"><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>On A Date with On a Date with African Sun <o:p></o:p></span></b></a></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#1. History <o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=400 height=179 style='width:4.1666in;height:1.8666in' id="Picture_x0020_29" src="cid:image001.png@01D8DCEC.33462FE0"></span></b></span><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1904, Cecil John Rhodes is hard at work to bring his ambitious plan to reality<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The plan is to build a railway line from Cape, SA to Cairo, Egypt<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Part of the enabling infrastructure is constructing Victoria Falls Hotel to accommodate workers.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=437 style='width:6.275in;height:4.55in' id="Picture_x0020_28" src="cid:image025.jpg@01D8DD43.FC2A7D60"></span></b></span><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1951, an expert trout fisherman Herbert Macllwaine opens Troutbeck Resort in Nyanga<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>South African Breweries (SAB) sell its Rhodesia and Nyasaland business to Rhodesia Breweries (RB) <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>RB purchase included SAB hotels resulting in formation of a hotel unit<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1968, Stable Hotels is set up to operate RB hotels in Southern Rhodesia<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1970, Emerged Railway Properties a company owned by NRZ and Zambia Railways leases Vic Falls Hotel<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1974, Monomotapa, Hwange Safari Lodge, Caribbean Bay and Elephant Hills are opened.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=500 height=746 style='width:5.2083in;height:7.775in' id="Picture_x0020_27" src="cid:image004.jpg@01D8DCEC.33462FE0"></span></b></span><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Meikles Hotel is demolished and 2 years later a new hotel is opened, operated by Southern Sun Hotel (SSH).<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1979, Meikles Southern Sun Hotels (MSSH) is born out of SSH becoming the largest hotel chain operator in Rhodesia.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1980, MSSH becomes Zimsun.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1990, Zimsun which is owned by RB now Delta Beverages Corporation is listed on the ZSE. <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1991, Holiday Inn a brand of InterContinental Hotel Group (IHG) is introduced in Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>IHG is a British based multinational hospitality company. 2000, Eversharp formerly owned by Randall Holdings is acquired by Trans Zambezi Industries (TZI).<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2001, Beachmont Trading changes its name to ART and is de-merged from TZI.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=304 style='width:6.275in;height:3.1666in' id="Picture_x0020_26" src="cid:image026.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2002, Delta seeks to concentrate on core businesses thereby offloads Zimsun a non-core business.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2003, Dawn Properties (DP) is unbundled from Zimsun. Zimsun becomes a major tenant of DP.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2008, Zimsun rebrands to African Sun as it moves in Africa markets.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=401 style='width:6.275in;height:4.175in' id="Picture_x0020_25" src="cid:image027.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2015, African Sun moves out of foreign markets to focus on Zimbabwe.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2021, DP shareholders are issued African Sun shares to facilitate buyout.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>2022, African Sun loses The Kingdom at Victoria Falls as the owner First Capital Bank wants a shorter lease.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=320 style='width:6.2666in;height:3.3333in' id="Picture_x0020_24" src="cid:image028.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#2. Operations,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A hotel asset management company headquartered in Harare, Zimbabwe.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Operates company owned properties and third party properties.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>3 distinct subsidiaries for,<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Hotel operations<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Central Reservation <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Property management<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=334 style='width:6.2666in;height:3.4833in' id="Picture_x0020_23" src="cid:image029.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Hotel Operations,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• 11 hotels <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• 1803 rooms<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• 7482 conference capacity<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• 21 restaurants<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The subsidiary divides the hotels into 4 divisions,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>City & Country Hotels<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Holiday Inn<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Monomotapa<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Troutbeck Resort <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Partnerships<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Victoria Falls Hotel<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=601 height=250 style='width:6.2583in;height:2.6083in' id="Picture_x0020_22" src="cid:image030.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Resort Hotels<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Elephant Hills Resort<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• The Kingdom at Victoria Falls<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Hwange Safari Lodge<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Caribbea Bay<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Great Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Sun Leisure, complementary unit which focuses on gaming and ground handling activities <o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Tours<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Casinos<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=600 height=340 style='width:6.25in;height:3.5416in' id="Picture_x0020_21" src="cid:image015.jpg@01D8DCEC.33462FE0"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Central Reservations<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>According to the group structure there is African Sun Limited Branch<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The subsidiary's primary purpose is servicing foreign guests into the group's hotels.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Property<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>DP owns the group's real estate and manage the properties<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#3. Competitors,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Tourism and hospitality industry highly competitive. African Sun is significant player<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Key competitors <o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• ASB Hospitality based in Dubai owner of the Meikles Hotel<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Rainbow Tourism Group owner of Rainbow Towers, New Ambassador Hotel, A’Zambezi River Lodge <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=362 style='width:6.275in;height:3.775in' id="Picture_x0020_20" src="cid:image031.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Masawara owned Cresta Hotels owner of Cresta Jameson, Sprayview, Oasis. <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Nesbitt Hospitality Group which owns N1 hotels in Harare, Bulawayo and Vic Falls.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Briolette Services owner of Montclair Hotel and Casino.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Palm River Hotel<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>• Dzimbahwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=498 height=262 style='width:5.1916in;height:2.7333in' id="Picture_x0020_19" src="cid:image032.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#4. Shareholding,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>62.72% of African Sun is controlled by Brainworks Hotels. <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>According to the 2021 annual report there was a significant issuing of new African Sun shares.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The share issue was to facilitate the purchase of Dawn Properties.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=602 height=256 style='width:6.2666in;height:2.6666in' id="Picture_x0020_18" src="cid:image033.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#5. Management,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Peter Saungweme - CEO<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Appointed on the 3rd of January 2022. A former CEO of Arden Capital (formerly Brainworks Capital).<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>This makes him to be familiar with the business since he could see it from an investor point view.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>A chartered accountant.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Spent time as a Financial Controller at Ecobank Zimbabwe.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Chief Financial Officer at Cell Holdings a short term insurer and medical insurance.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>His task will be to transform African Sun into a resilient business after COVID-19.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img width=421 height=458 style='width:4.3833in;height:4.775in' id="Picture_x0020_17" src="cid:image034.jpg@01D8DD43.FC2A7D60"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#6. Pitch<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Benefiting from synergies created by bundling with Dawn Properties. <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Relaxation of covid-19 restrictions thereby facilitating movement of tourists from source markets namely UK, USA, Europe and China.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>The conference business has also ramped up and occupancies are rising significantly.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Foreign currency retention rates improved.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>#7. ZSE Trading Statistics<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZWL18.12 (USc2.92 @Interbank Rate) per share as at 10/10/2022.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>6.4 ZWL per share on the 4th of January 2022.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>182.1% YTD Gain vs ZSE ALSI @22.33% YTD<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>6<sup>th</sup> on the @ZSE_ZW ranking in terms of year to date movements.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>21<sup>st</sup> most traded stock over the past 3 months to Sept 30<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>1,423,517,220 issued shares.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>ZWL26.8bn market cap (US$43.19m @ZWL620/interbank rate) as at 10/10/ 2022<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><div style='mso-element:para-border-div;border:solid windowtext 1.0pt;padding:1.0pt 4.0pt 1.0pt 4.0pt'><p class=MsoNormal style='line-height:115%;border:none;padding:0cm'><span style='mso-bookmark:_Hlk95685055'><b><i><span style='line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Anecdotes: African Sun once had a dream for being a US$1bn market cap company premised on having 10,000 rooms under management. That bit included forays into Africa, a strategy which has taken a back seat…but who knows…dreams tend to be re-lived once in a while<o:p></o:p></span></i></b></span></p></div><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;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 an Investment Democrat. <b>Twitter</b> @MartinMataga. <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;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. Bulls n Bears has made reasonable effort to validate and update the information before circulation but the onus is on the investor consult their financial advisor.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Disclaimer</span></b></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;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></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>For comments and questions reply to <b><span style='background:aqua;mso-highlight:aqua'>bulls@bullszimbabwe.com</span></b><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><i><span style='mso-fareast-language:EN-ZW'><o:p> </o:p></span></i></p><p class=MsoNormal style='line-height:115%;background:white'><i><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Invest Wisely!</span></i><i><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></i></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><b><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'> </span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Telephone: <a href="tel:%2B263%204%202927658" target="_blank"><span style='color:black;text-decoration:none'>+2</span><span style='color:windowtext;text-decoration:none'>7</span></a></span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'> 71 544 4769<o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Cellphone: <a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='color:black;text-decoration:none'>+263 77 344 1674</span></a></span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Alt. Email: <a href="mailto:bulls@bullszimbabwe.com"><span style='color:#0563C1'>bulls@bullszimbabwe.com</span></a> </span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Website: <a href="http://www.bullszimbabwe.com/"><span style='color:#0563C1;text-decoration:none'>www.bullszimbabwe.com</span></a> </span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Blog: <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='color:black;text-decoration:none'>www.bulls.co.zw/blog</span></a></span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Twitter: @bullsbears2010</span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe</span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Facebook: <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='color:black'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Skype: Bulls.Bears <o:p></o:p></span></p><p class=MsoNormal style='line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><img border=0 width=246 height=120 style='width:2.5666in;height:1.25in' id="Picture_x0020_1" src="cid:image024.png@01D8DCEC.33462FE0" alt="cid:image007.png@01D8D251.2F5DF3E0"><o:p></o:p></span></p><p class=MsoNormal style='line-height:115%'><span style='font-size:12.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal><o:p> </o:p></p></td></tr></table></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>