FMHL makes move at subsidiary level

FMHL makes move at subsidiary level

Staff Reporter

HARARE, Insurance group, First Mutual Holdings Limited has advised of a potential transaction through one of its subsidiary which may have an impact on the group’s share price.

In a statement, FMHL, said caution should be excised when dealing with the company’s share until a full announcement is made.

“Shareholders are advised that First Mutual Holdings Limited has entered into negotiations that involve a potential transaction at subsidiary level which, if successfully concluded, may have a material impact on the price of the Company’s securities.

“The Directors therefore advise the shareholders of First Mutual Holdings Limited and the public to exercise caution and to consult their professional advisors when dealing in the shares of the Company until a full announcement is made,” read part of the statement.

In 2018, FMHL acquired short term insurer NicozDiamond for about $18 million which consequently, saw  the listing of NDIL on the Zimbabwe Stock Exchange (ZSE) terminated. NDIL was also merged with TristarInsurance.

As at week ending Friday 31, January 2020,  FMHL market capitalisation was at $298,14 million, with a total shares issued of 690,143,060. The weeks high was at 43,20 cents while the weeks low was 31,20 cents. A total 61,500 shares were traded during the week, bring a total value of $22,346.

 

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