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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><o:p> </o:p></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr><td width=638 valign=top style='width:478.8pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal><o:p> </o:p></p></td></tr><tr><td width=638 valign=top style='width:478.8pt;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 Lafarge ZWE <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><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>1 in 5 builders in Zimbabwe are smart, they use differentiated cement brands from me. Be smarter own me </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI Emoji",sans-serif'>👇</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Welcome to On a Date with a listed company on the Zimbabwe Stock Exchange (ZSE)<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>THREAD: On a Date with Lafarge Cement Zimbabwe Limited (LACZ)<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=519 height=294 style='width:5.4083in;height:3.0666in' id="Picture_x0020_12" src="cid:image001.jpg@01D8F44E.B83DBD70"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#1. History<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Joseph Aspdin a driven bricklayer and plasterer is experimenting in his kitchen<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>He wants a better cement to lessen building time. One day in his kitchen lab he finds out, <o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Heating clay and limestone at high temperatures can make strong cement<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=383 height=312 style='width:3.9916in;height:3.25in' id="Picture_x0020_11" src="cid:image004.jpg@01D8F44E.B83DBD70"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>1824 "Portland Cement" is created and patented by Joseph Aspdin in Britain.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>The innovation forms the bedrock of Britain's cement industry giving it comparative advantage in production of cement.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Many small cement plants are opened across Britain.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>1900, Henry Osborne O'Hagan a financier seeks to consolidate the cement industry by creating an enterprise which operates all cement plants in Britain<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>The British market was under threat from Europe and US based competitors who were increasing their capacity<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=467 height=386 style='width:4.8666in;height:4.025in' id="Picture_x0020_10" src="cid:image015.jpg@01D8F44E.B83DBD70" alt="Text
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Associated Portland Cement Manufacturers Limited (APCM) is born out of 24 cement companies. <o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>APCM sets up a sales arm Cement Marketing Company (CMC) with its leading brand being Blue Circle.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Cement production is directly related to economic activity<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Exposed to the uncertainties of the British market APCM expanded its operations across the world including Zimbabwe.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>1954, Salisbury Portland Cement (SPC) is incorporated as a unit of APCM coinciding with an infrastructure project boom of the Federation<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=359 height=359 style='width:3.7416in;height:3.7416in' id="Picture_x0020_9" src="cid:image018.png@01D8F44E.B83DBD70" alt="Map
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>1978, Blue Circle Industries (BCI) is the new name for APCM taking it from its popular brand.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>1980, SPC is listed on the @ZSE_ZW 3 years later renamed to Circle Cement.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>2001, Lafarge SA of France takes over BCI becoming world's largest producer of cement.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>2007, Circle Cement is renamed Lafarge Cement Zimbabwe (LACZ).<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>2015, Lafarge SA and Holcim a Switzerland based cement company merge to form Holcim Group. <o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>2022, Holcim Group is in the process of selling off its 76% stake in LACZ to Fossil Mines.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#2. Operations,<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>LACZ is producer and supplier of <o:p></o:p></span></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraphCxSpFirst style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l1 level1 lfo3'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>Cement<o:p></o:p></span></span></li><li class=MsoListParagraphCxSpMiddle style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l1 level1 lfo3'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>Dry Mortar<o:p></o:p></span></span></li><li class=MsoListParagraphCxSpMiddle style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l1 level1 lfo3'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>Aggregates<o:p></o:p></span></span></li><li class=MsoListParagraphCxSpLast style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l1 level1 lfo3'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>Soil Strengtheners <o:p></o:p></span></span></li></ul><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>It has two limestone extracting mines at Sternblick Quarry in Harare and Mbudu in Mashonaland East.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Cement <o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Its plant was reported to produce 450,000 tonnes of cement per annum. <o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>However, it was working on increasing its capacity to 800,000 tonnes per annum through installation of the vertical cement mill.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>The cement produced by LACZ is tailor made,<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=624 height=322 style='width:6.5in;height:3.3583in' id="Picture_x0020_8" src="cid:image019.jpg@01D8F44E.B83DBD70"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Dry Mortar<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Dry Mortar is term given to readily mixed raw materials in dry form.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>It is made of cement, sand, mineral and functional additives.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>100,000 tonnes of dry mortar products can be produced by LACZ annually.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=624 height=499 style='width:6.5in;height:5.2in' id="Picture_x0020_7" src="cid:image020.jpg@01D8F44E.B83DBD70" alt="Text
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Aggregates<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Aggregates are raw materials that are produced from natural sources and extracted from pits and quarries.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>These are produced from Sternblick Quarry and Mbudu Quarry.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=624 height=465 style='width:6.5in;height:4.8416in' id="Picture_x0020_6" src="cid:image021.jpg@01D8F44E.B83DBD70" alt="Qr code
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Soil Strengthening Compounds<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>LACZ produces agricultural lime which is a calcitic grade soil additive.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>It is made from pulverized limestone. Enhance crop yields as it increases the pH of acidic soils.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>This helps uptake of nutrients by plants.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=376 height=394 style='width:3.9166in;height:4.1083in' id="Picture_x0020_5" src="cid:image022.jpg@01D8F44E.B83DBD70" alt="Map
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#3. Competitors,<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>LACZ controls 20% of the cement market in Zimbabwe, the 80% is shared by,<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>° Pretoria Portland Cement <o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=602 height=374 style='width:6.2666in;height:3.8916in' id="Picture_x0020_4" src="cid:image023.jpg@01D8F44E.B83DBD70" alt="A picture containing text, sky, outdoor, sign
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraph style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l3 level1 lfo4'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>50% market share of the cement market. <o:p></o:p></span></span></li></ul><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>° Livetouch Cement<o:p></o:p></span></b></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraph style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l3 level1 lfo4'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>Chinese owned company based in Redcliff, Kwekwe. Producer of Diamond Cement<o:p></o:p></span></span></li></ul><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>° Sino-Zimbabwe Cement Company (SZCC)<o:p></o:p></span></b></span></p><ul style='margin-top:0cm' type=disc><li class=MsoListParagraph style='margin-left:0cm;mso-add-space:auto;line-height:106%;mso-list:l3 level1 lfo4'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;line-height:106%;font-family:"Segoe UI",sans-serif'>A JV between China Building Material Corporation (CBMC) and the Industrial Development Corporation of Zimbabwe (IDC)<o:p></o:p></span></span></li></ul><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>° Pacstar Cement & Concrete<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>° Imports<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Zimbabwe can produce +2,6 million tonnes of cement annually.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#4. Share Price<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>120 ZWL per share as at 09 November, 2022<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>80 ZWL per share as at January 3, 2022<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>22<sup>nd</sup> on ZSE ranking in terms of year to date performance as of 8 November, 2022<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>40th most traded stock over the past 3 months to Nov 4.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>31st most valuable stock on the ZSE as of 8 November.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>ZWL9.6bn market cap (US$13.1m @RBZ Interbank)<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#5. Shareholding,<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>76.45% of LACZ is controlled by Holcim Group through Associated International Cement.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Fossil Mine's bid to acquire 76.45% owned by Holcim won ahead of Huaxin Cement of China.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>The deal is backed by local banks and asset managers.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><img width=532 height=506 style='width:5.5416in;height:5.275in' id="Picture_x0020_3" src="cid:image024.png@01D8F44E.B83DBD70"></span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#6. Management,<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Geoffrey Ngugwa - CEO<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Appointed in December 2021. He is an experienced executive who has had a successful career at Lafarge.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Joining LACZ at a challenging time due to the roof collapse at the plant in Harare. The incident halted production<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><b><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>#7. Pitch,<o:p></o:p></span></b></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>LACZ is about to transition to a wholly owned Zimbabwean cement company. <o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Innovative product portfolio which speaks to the specific needs of builders - Roadcem<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>The country's largest producer of dry mortar products in Zimbabwe.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Positioned to benefit from the government led infrastructure projects due to its increased capacity. <o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Binastore, the e-commerce platform which supports multi currency transactions and opens to diaspora customers.<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'>Pursing 3D printing to housing<o:p></o:p></span></span></p><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><span style='font-size:14.0pt;font-family:"Segoe UI",sans-serif'><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'><o:p> </o:p></span></span></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr><td width=623 valign=top style='width:467.5pt;border:solid windowtext 1.0pt;background:#D9E2F3;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-align:justify;line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'>Each week will be on a DATE with a company listed on the ZSE with Martin Mataga an Investment Democrat. <b>Twitter @MartinMataga.</b> 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='text-align:justify;line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'>Disclaimer</span></b></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif'>: Do not misconstrue this thread as investment advice. DATE companies before you buy their shares. <span style='color:#0F1419;background:white'>For comments and questions reply to </span></span></span><a href="mailto:bulls@bullszimbabwe.com"><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:115%;font-family:"Segoe UI",sans-serif;background:aqua;mso-highlight:aqua'>bulls@bullszimbabwe.com</span></b></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US 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></td><span style='mso-bookmark:_Hlk95685055'></span></tr></table><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%;background:white'><span style='mso-bookmark:_Hlk95685055'><i><span style='mso-fareast-language:EN-ZW'><o:p> </o:p></span></i></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><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></span><span style='mso-bookmark:_Hlk95685055'><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></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><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><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'> </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Telephone: </span></span><a href="tel:%2B263%204%202927658" target="_blank"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW;text-decoration:none'>+2</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'>7</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><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></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Cellphone: </span></span><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW;text-decoration:none'>+263 7</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'>1 9</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW;text-decoration:none'>44 167</span></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>5<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Alt. Email: </span></span><a href="mailto:bulls@bullszimbabwe.com"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>bulls@bullszimbabwe.com</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'> </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Website: </span></span><a href="http://www.bullszimbabwe.com/"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW;text-decoration:none'>www.bullszimbabwe.com</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'> </span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Blog: </span></span><span style='mso-bookmark:_Hlk95685055'></span><a href="https://bullszimbabwe.com/category/blogs/"><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>https://bullszimbabwe.com/category/blogs/</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'> <o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Twitter: @bullsbears2010</span></span><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><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><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Facebook: </span></span><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='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>www.facebook.com/BullsBearsZimbabwe</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><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></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><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:2.5583in;height:1.25in' id="Picture_x0020_1" src="cid:image025.png@01D8F44E.B83DBD70" alt="cid:image007.png@01D8D251.2F5DF3E0"><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span style='mso-bookmark:_Hlk95685055'><span style='font-size:12.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></span></p><span style='mso-bookmark:_Hlk95685055'></span><p class=MsoNormal><span style='mso-bookmark:_Hlk95685055'><o:p> </o:p></span></p></td><span style='mso-bookmark:_Hlk95685055'></span></tr></table></div><span style='mso-bookmark:_Hlk95685055'></span><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>