Last year we learnt that two of Zimbabwe’s biggest players in the dairy industry were in the process of exploring if they could merge with one another. This was revealed in July last year when Dairibord Holdings issued a cautionary statement to its shareholders saying there in such talks with Dendairy Private Limited. Now it seems the merger will not be happening after all.

WITHDRAWAL OF CAUTIONARY STATEMENT

Dairibord Holdings Limited and Dendairy (Private) Limited have been exploring opportunities for creating sustainable shareholder value for mutual benefit. Shareholders are referred to the cautionary announcement first published on 1 July 2020 and are advised that the conclusion of the discussions indicates that it is in the interest of both parties to discontinue the process and remain as separate entities.

The contents of the cautionary have ceased to have any effect on the company. Accordingly, caution is no longer required to be exercised when dealing in company shares.

The parties express best wishes and success for the future.

By Order of the Board

Samson Punzisani

Company Secretary

27 August 2021

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