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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><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 style='line-height:105%'><a href="http://www.cloverleaf.co.zw/"><span lang=EN-US style='color:windowtext;text-decoration:none'><img border=0 width=624 height=240 style='width:6.5in;height:2.5in' id="Picture_x0020_11" src="cid:image011.jpg@01D97122.E9EE8510" alt="cid:image001.jpg@01D97122.DF2C7600"></span></a><span lang=EN-US><o:p></o:p></span></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:120%'><a name="_Hlk95685055"><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></b></a></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>On a Date with </span></b></span><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;background:white'>AFDIS <span style='color:#0F1419'>Limited<o:p></o:p></span></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;background:white'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Why not buy my shares as you buy Hunters, Savanna, Gold Blend? You can buy a piece of me for 285 ZWL.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;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 style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>THREAD: On a Date with African Distillers Limited (AFDS)<b><span style='color:#0F1419;background:white'><o:p></o:p></span></b></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img border=0 width=624 height=353 style='width:6.5in;height:3.675in' id="Picture_x0020_10" src="cid:image012.jpg@01D97122.E9EE8510" alt="cid:image002.jpg@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#1. History<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1944, A company is established in Bulawayo using the name relatable to a former vice president of South Africa during the rein of Paul Kruger, P J Joubert Limited.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1946, P J Joubert Limited changes name to African Distillers (AFDS).<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The initial business of AFDS was the sale and distribution of imported spirits, liqueurs and wines.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>HOWEVER the purchase of a distillery in Mutare during the year brought the start of manufacturing of a range of spirits locally.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1951, listed on the @ZSE_ZW<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>1974, AFDS moves its headquarters to Stapleford which houses its production, warehousing and distribution facilities<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>2022, Distell a key supplier and shareholder of AFDS gets lured by Heineken for USD 2.24 billion.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'></span><a href="http://www.cloverleaf.co.zw/"><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:windowtext;text-decoration:none'><img border=0 width=490 height=678 style='width:5.1in;height:7.0583in' id="Picture_x0020_9" src="cid:image013.jpg@01D97122.E9EE8510" alt="A picture containing website
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#2. Operations,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>AFDIS<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>is a manufacturer, distributor and marketer of branded WINES, CIDERS & SPIRITS mainly licenced from @distellgroup in Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Apart from its headquarters it has 6 depots in Bulawayo, Harare, Kwekwe, Masvingo, Mutare and Victoria Falls.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img border=0 width=624 height=403 style='width:6.5in;height:4.2in' id="Picture_x0020_8" src="cid:image014.jpg@01D97122.E9EE8510" alt="cid:image004.jpg@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#3. Competitors,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'></span><a href="mailto:ibc@zitf.co.zw"><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:windowtext;text-decoration:none'><img border=0 width=419 height=628 style='width:4.3666in;height:6.5416in' id="Picture_x0020_7" src="cid:image015.jpg@01D97122.E9EE8510" alt="cid:image005.jpg@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>WGA Liquor<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Known for Breakers Pure Cane Spirit, Special Dudley's Dry Gin & Black Bull XO Brandy<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Nyangani Industries<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Lower end market producer of spirits, Sixer, Challenger, Kitoko, Bouncer & Rivella<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Mambo Beverage, producer of Ranger<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Jeksa<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>A licenced beverage alcohol importer and distributor of wine and spirits in Zimbabwe. Associated with Friends Club Whiskey, Golden Touch,<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Edward Snell & Co<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>A South African based producer and distributor of international brands in Zimbabwe<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img border=0 width=624 height=624 style='width:6.5in;height:6.5in' id="Picture_x0020_6" src="cid:image016.jpg@01D97122.E9EE8510" alt="A picture containing chart
Description automatically generated"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#4. Challenges,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>The influx of illegal and smuggled alcoholic drinks which undercut its revenue as customers shift their money to the cheaper products<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Access to cheaper foreign currency is limited in Zimbabwe. AFDS relies on it to import from its SA supplier.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Purchase of Distell by @Heineken which is a strong competitor to @abinbev the parent of Delta Corporation.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>HOWEVER this could be mitigated by the Competition and Tariff Commission which approves such deals to ensure fair play in the marketplace.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#5. Share price,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>323.18 ZWL per share (USc29.38) as at April 14, 2023<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>263.40 ZWL per share on the 3rd of January 2023<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>32<sup>nd</sup> on ranking in terms of year-to-date performance on the ZSE<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>118,389,792 issued shares<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>38.6bn ZWL market cap (US$35.11m)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#6. Shareholding,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Afdis Holdings (AH) an investment vehicle owned by DLTA and Distell of SA controls 70.45%.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>DLTA holds 41.22% and Distell controls 29.23% of 70.45%.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>AFDS is a subsidiary of Delta Corporation (DLTA) which controls a total stake of 50.44%.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img border=0 width=624 height=342 style='width:6.5in;height:3.5666in' id="Picture_x0020_5" src="cid:image017.jpg@01D97122.E9EE8510" alt="cid:image007.jpg@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#8. Management,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><img border=0 width=396 height=444 style='width:4.125in;height:4.625in' id="Picture_x0020_4" src="cid:image008.jpg@01D97122.DF2C7600" alt="cid:image008.jpg@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Stanley Muchenje - Managing Director, (1 April 2021)<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Holds a Business Studies degree from UZ and a M. Phil Marketing from IMM<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;font-weight:normal'>Exposed to senior management programs including the acclaimed Accelerated Leadership Development Programme at GIBS.<o:p></o:p></span></span></h1><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1111;font-weight:normal'><o:p> </o:p></span></span></h1><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:13.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white;font-weight:normal'>A distinguished marketer who proved his abilities at Delta Corporation and formerly SABMiller now part of its former rival Anheuser Busch InBev. Championing the localisation of production away from importation. Commissioned a cider plant for its Hunters brand<o:p></o:p></span></span></h1><h1 style='margin:0cm;margin-bottom:.0001pt;line-height:120%;background:white'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1111;font-weight:normal'><o:p> </o:p></span></span></h1><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><b><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>#9. Pitch,<o:p></o:p></span></b></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Investing in capital projects to localise production of some imported products. Recently completed the construction of a cider fermentation plant earmarked for Hunters Dry and Gold.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif'>Key supplier is a major shareholder who supports the business.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><img border=0 width=624 height=328 style='width:6.5in;height:3.4166in' id="Picture_x0020_3" src="cid:image018.jpg@01D97122.E9EE8510" alt="cid:image009.jpg@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Well positioned brands that appeal to the tastes of the younger consumer and cheaper smaller packaged alcohol beverages.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Ability to leverage on the parent company Delta Corporation's resources such as depots, dealer network to access a wide market.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Did you know that from your phone whilst buying your favorite AFDS product you can buy its shares.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Download the @CTRADEmobile or @ZSE_ZW app and start investing on your usual companies.<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:14.0pt;line-height:120%;font-family:"Segoe UI",sans-serif;color:#0F1419;background:white'>Whilst on it take note of the invitation to join aspiring investors<o:p></o:p></span></span></p><p class=MsoNormal style='line-height:120%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='background:white'><o:p> </o:p></span></span></p><p class=MsoNormal style='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><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 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><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'><i><span lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Telephone: </span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US><o:p></o:p></span></span></p><p class=MsoNormal style='line-height:115%;background:white'><span style='mso-bookmark:_Hlk95685055'></span><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>+263 7</span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>1 9</span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>44 167</span></span><span style='mso-bookmark:_Hlk95685055'></span></a><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Website: </span></span><a href="https://protect-za.mimecast.com/s/7GnGC66yRlUrQL73spqcHd/"><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>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 lang=EN-US 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 lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Blog: </span></span><a href="https://protect-za.mimecast.com/s/UeLgC8qA6nT6nNWJs2i06_/"><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style='font-size:9.0pt;line-height:115%;font-family:"Georgia",serif;color:black;mso-fareast-language:EN-ZW'>Facebook: </span></span><a href="https://protect-za.mimecast.com/s/v_m9C98BQoHko4AZHOINd8" target="_blank"><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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_2" src="cid:image010.png@01D97122.DF2C7600" alt="cid:image010.png@01D97122.DF2C7600"></span></span><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US style='font-size:12.0pt;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 lang=EN-US 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 style='line-height:105%'><span style='mso-bookmark:_Hlk95685055'><span lang=EN-US><o:p> </o:p></span></span></p></td><span style='mso-bookmark:_Hlk95685055'></span></tr></table></div><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p></div></body></html>