BNC postpones AGM


David Murangari

Bindura Nickel Corporation (BNC) on Thursday postponed its scheduled annual general meeting (AGM) to next week  after breaching the Zimbabwe Stock Exchange (ZSE) rules and the Companies Act.
Acting Chairman, David Murangari, said the company had failed to distribute annual reports and audited financial statements prior to 14 days of holding the AGM in line with the ZSE rules.

The AGM is now scheduled for September 3, then the company expect to have complied with all ZSE rules.
“As a consequence there were breaches of ZSE rules and the Companies Act. It is not proper to hold an AGM where the financial statements are distributed to members less than 14 days before the event,” he said.
“We are supposed to have distributed them by not later than August 14 and this was clearly outside the 14-day period required by ZSE rules and Companies Act chapter 24 of 2014,”Murangari said.